MedTech Innovator Asia Pacific Selects 20 Startups for Annual Accelerator Program
MedTech Innovator, the largest accelerator of medical device companies in the world, in partnership with Asia Pacific Medical Technology Association (APACMed), the first and only regional association to provide a unified voice for the medical technology industry, today announced the 20 companies selected to participate in the organization’s Asia Pacific Accelerator program. Each of the chosen companies will receive high-profile visibility to health care investors, stakeholders, decision-makers, and customized mentorship through one-on-one matching with corporate partners to help with commercialization throughout the Asia Pacific.
MedTech Innovator History
Change has long been a constant in healthcare, but it has dramatically accelerated in recent years. With much of health care moving onto digital platforms, there has been remarkable growth in the amount of patient-generated health data. Digital health tools that facilitate innovative methods and modalities to improve care, enable lifestyle change, and create efficiencies are progressing quickly. A changing healthcare industry brings new roles and responsibilities to healthcare organizations.
Since 2013, MedTech Innovator has reviewed more than 5,000 startups and graduated 340 companies that have raised more than $2.7 billion in follow-on funding and have brought over 80 products to market. Silicon Valley Bank’s CipherBio Q3 2020 Accelerator Insights report revealed for the first time that MedTech Innovator is the largest accelerator of Life Science companies in the world. 86% of its MedTech startups have raised equity financing, with a portfolio raising more funding rounds in 2020 than any other accelerator.
MedTech Innovator Asia Pacific Program
MedTech Innovator is the medical technology industry’s global showcase and accelerator for innovative medical device, digital health, and diagnostic companies. The showcase and accelerator is the largest platform of its kind, providing participants with broad exposure to the leading players in the medtech industry. To accelerate innovation in Asia, MedTech Innovator partnered with the Asia Pacific Medical Technology Association (APACMed 亚太医疗技术协会). APACMed is the first and only regional association to provide a unified voice for the medical technology industry in Asia.
Over 500 companies applied for the Asia Pacific program, but only five startups from the 2021 Asia Pacific cohort will advance to compete in the Grand Finals to be held at APACMed’s MedTech Forum 2021 in Singapore from October 19-20. Attended by health care industry leaders, health care providers, and investors from across the region, the MedTech Forum will also showcase solutions from the 20 Accelerator companies. The winning company, which will be determined by audience vote, stands to win a non-dilutive cash prize and the 2021 MedTech Innovator Asia Pacific Winner title. In total, up to US$ 300,000 in cash prizes and awards will be given out to Accelerator companies.
MedTech Innovator Pitch
- The highest-scoring companies from the online application review are invited to participate in regional pitch events, awarding the opportunity to present to a variety of industry-leading judges and key opinion leaders.
- In-person pitch event judges include members of the MedTech Innovator leadership team, investors, providers, and senior executives from world-class multinationals and medtech companies. Historically, participation has resulted in financial investment, recruitment of board advisors, and establishment of research partnerships for startups.
- All companies invited to pitch will be provided with review feedback summaries based on their online application and in-person pitch.
MedTech Innovator Cohort
- 20 companies will be selected to participate in the MedTech Innovator Cohort.
- These companies will receive one complimentary registration to APACMed’s Asia Pacific MedTech Forum in September 2021. At this gathering of industry leaders from across the Asia Pacific, companies will participate in the MedTech Innovator Showcase, an on-stage interactive program.
- The showcase highlights the most innovative companies in sector-based sessions, moderated by leading corporate executives and investors.
- Opportunities will also include networking and pitching to investors, manufacturers, providers. All 20 companies of the cohort will receive customized mentorship and the eligibility to compete for the Grand Prize.
2021 Evaluation Standards
MedTech Innovator seeks early to mid-stage start-ups in the medical device, diagnostic, or digital health/health IT spaces. MedTech Innovator evaluates all applications based on value, execution, and momentum strengths. The company strength for each category is evaluated using multiple metrics. Below are the metrics pulled from the MedTech Innovator FAQ.
MedTech Innovator’s 2021 top 20 Asia Pacific Accelerator companies include:
- Active Needle – Abingdon, United Kingdom
- Adiuvo Diagnostics – Chennai, India
- Biorithm – Singapore
- BrainSightAI – Bangalore, India
- Huinno – Seoul, South Korea
- MedCorp Technologies – Hawthorn, Australia
- Miraqules – Bhubaneswar, India
- Navi Medical Technologies – Melbourne, Australia
- Nayam Innovations – Mumbai, India
- Nitium Technology – Selangor, Malaysia
- Oncophenomics – Hyderabad, India
- Opharmic Technology – Hong Kong
- PB & B – Lausanne, Switzerland
- PLIMES – Tsukuba, Japan
- Pluss Advanced Technologies – Gurugram, India
- Sonic Incytes Medical – Vancouver, Canada
- SpineGuide Technologies – Shoreview, Minn. U.S.
- UpperMed – Singapore
- VPIX Medical – Daejeon, South Korea
- ZuoYuan Medical – Hangzhou, China
MedTech Innovator’s 2021 Asia Pacific program sponsors include Johnson & Johnson Medical Devices Companies, Align Technology, Nipro Medical Corporation, Oliver Healthcare Packaging, Olympus Medical Systems Group, Siemens Healthineers, Cambridge Consultants, and Enterprise Singapore. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
Last week MedTech Innovator announced 50 companies selected to participate in the organization’s 2021 flagship four-month Showcase and Accelerator program. The MedTech startups chosen are striving to be the industry’s most transformative device, diagnostic, and digital health technologies. These 50 startups will receive unparalleled visibility and access to leading manufacturers, providers, investors, and other industry stakeholders. To see a complete list of the 50 organizations announced last week.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the largest accelerator of medical device companies in the world and the premier nonprofit startup accelerator in the medical technology industry.i Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the health care system. MedTech Innovator matches health care industry leaders with innovative early stage and emerging-growth medtech companies for mentorship and support.
About Asia Pacific Medical Technology Association (APACMed)
Founded in 2014 and headquartered in Singapore, APACMed represents manufacturers and suppliers of medical equipment, devices and in vitro diagnostics, industry associations and other key stakeholders associated with the medical technology industry in Asia Pacific. Providing a unified voice for the medical devices and in-vitro diagnostics industry in Asia Pacific, APACMed works proactively with bilateral, regional and local government bodies to shape policies, demonstrate the value of medical technology and promote regulatory harmonization. We strive to promote digital health innovation and impact policy that advances healthcare access for patients by engaging with medical device associations and companies in Asia Pacific.