MedTech’s Got Talent – Australia’s premiere early-stage MedTech challenge – has opened its 2017 application round, seeking Australia’s aspiring next generation of entrepreneurs and innovators in the field of medical technology. Top teams win a share in over $160,000 in cash prizes and intense specialised training and mentorship.

STC Australia, the competition’s organisers, announced the opening of applications for the 2017 National MedTech’s Got Talent Program on 24 July. Now in its fourth year, the program focuses on identifying and refining high-potential MedTech concepts from aspiring early-stage entrepreneurs and innovators associated with Australia’s world-class universities, hospitals and research institutes.

After three successful years in Victoria, the program has this year gone national. Entrepreneurs will receive support to develop an investible start-up pitch, developing a go-to-market strategy, and initiating commercial activities. Participants will vie for over $160,000 in cash prizes plus critical support, such as mentoring from Australia’s leading commercialisation and technology experts.

“We are incredibly excited to be taking MedTech’s Got Talent national this year,” said Dr Buzz Palmer, CEO of STC Australia. “Our mission is to support our homegrown talent within their local innovation ecosystems, and with the incredible successes achieved by our alumni, we are eager to see the game-changing ideas sure to emerge this year.”

Victoria’s Minister for Small Business, Innovation and Trade, Philip Dalidakis said he is proud that a home-grown Victorian innovation program is going national, having set the standard for nurturing Australian MedTech entrepreneurship.

“Victoria’s medtech and pharmaceutical sector is booming, generating $12.7bn in revenue annually and employing 23,000 people in more than 650 companies from small startups to large Victorian exporters and global manufacturers,” said Dalidakis.

“We believe that in MedTech’s Got Talent, we have built an excellent proving ground for emerging biomedical innovations,” said Laura Faulconer, COO of STC Australia. “Victoria has proven to be fertile grounds for promising talent – I am confident that the national program will create an even stronger pipeline of successes.”

Applications for the 2017 National round are now open and will close on the 25 August. Applications submitted before the 17 August will receive in-depth feedback to greatly increase the chances of advancing to the Rapid Fire Round.

Selection process:

  • The top applicants are invited to pitch at the Rapid Fire Round in Melbourne and Sydney (21 September) where up to 20 teams plus two national wildcards advance to the next round.
  • At MedTech Bootcamp (28 September) teams will undergo one week of intensive training and mentoring led by industry experts
  • Teams pitch their progress at The Eliminator (25 October), where the top teams receive up to $1,000 and advance to The Finals.
  • The Finals (30 November) at held at a gala pitch dinner in Melbourne where five finalists receive $20,000 each and a place in the Accelerated Technology Roadmapping phase
  • The Accelerated Technology Roadmapping (December 2017 – February 2018) program is an intense six-week training program to get startups prepared to pitch for equity investment
  • The entire program culminates in the invite-only Investor Deal Pitch (20 March 2018) where the five finalists pitch to seed-stage MedTech investors, with the most investible team receiving an additional $40,000