Some of Australia’s brightest entrepreneurial minds were on show in Melbourne last night as they faced off for the chance to win a $20,000 mentorship and a host of other prizes at the Medtech’s Got Talent competition.
The 12 semi-finalists had three minutes each to pitch their business concept to the judging panel who then selected five finalists against criteria including innovation, market, pathway, sustainability and soft skills.
The five successful teams were Bellum, PELT, HorusAI, SWADE and Hemideina, who pitched ideas for medical technologies aimed at tackling a wide range of ailments including malaria, jaundice, back pain and Parkinsons.
The people’s choice award for the night was taken out by Resthera who thought up a medical device that can diagnose bacterial or viral infections in the common cold to help slow antibacterial resistance.
The five finalists will now pitch to investors in a boardroom event in February 2017 for the final stage of the competition. The winning team will be announced following the pitch and will receive an additional $40,000.
Medical technologies and pharmaceuticals have been identified as a key sector to provide strong growth for Victoria’s economy and jobs of the future.
Victoria is already home to more than a third of all ASX-listed medical technology companies in the country and targeted events such as MedTech's Got Talent give Victorian startups and entrepreneurs the platform they need to attract more investment.
The Andrews Labor Government is a major sponsor of Medtech’s Got Talent and is supporting Victoria’s best and brightest entrepreneurs through the $60 million LaunchVic fund – as part of its push to position the state as the number one tech destination in the Asia Pacific.
Quotes attributable to Minister for Small Business, Innovation and Trade Philip Dalidakis
“Congratulations to all the teams that took part in this year’s pitch night – I’m proud to be supporting the next generation of medical technology entrepreneurs generating the ideas that will make Victorians lives better.”
“Victoria is fast becoming the tech capital of the Asia Pacific region and the talent on show last night is yet another example of why we continue to go from strength to strength.”
Quotes attributable to Small Technologies Cluster CEO Buzz Palmer
“We understand that it’s one thing to have a great idea, but another to actually get that idea out into the world and Medtech’s Got Talent is about helping young entrepreneurs getting their brilliant ideas into the market.”
“We’ve been nurturing innovation and entrepreneurship in Victoria for more than ten years and every year we are seeing the talent get stronger and the ideas get more innovative.”
Reviewed 19 August 2020