Med-tech start-ups accelerated towards commercial success
From a world-first wearable device that monitors brain activity and blood flow after a stroke to a synthetically engineered virus that can promote wound healing, six health innovations will be showcased at the exclusive 2021 Health 10x Demo Night event on 29 September 2021, positioning them for greater commercial success.
25 med-tech start-ups were selected in 2021 to participate in Health10x, a unique annual national accelerator program delivered by The George Institute for Global Health and UNSW Founders to guide emerging entrepreneurs to commercialise pioneering healthcare solutions that address unmet needs. The Health 10x Demo Night is the culmination of the rigorous and intensive three-month bespoke program, says Dr Parisa Glass, Director of Innovation and Enterprise at The George Institute for Global Health.
“The six start-ups whose work was showcased at the Health 10x Demo Night have been carefully selected by The George Institute and UNSW Founders because of their potential for enormous impact on health outcomes in Australia and beyond,” said Dr Glass. “Start-ups face many roadblocks to commercialisation success with the majority failing due to a lack of capital,” she said. “Through Health10x we work to de-risk start-ups to attract necessary investment to get them to the market and ensure they succeed.”
Health 10x Demo Night, hosted virtually, is an opportunity for the start-ups to present their health solutions and technologies to a select audience of industry experts and investors.
The six start-ups showcased at the Health 10x Demo Night were:
Allasso Bio: A specially engineered synthetic bacteriophages (a virus often used in genetic research) disrupt the complex environment of chronic wounds that prevent wound healing.
Automi: An intelligent platform that automates the creation of regulatory branded packaging assets for pharma and medical devices.
Humane: An online platform helping families of people with disability self-manage their finances and understand services available, starting with the National Disability Insurance Scheme (NDIS).
Nuroflux: A wearable device to monitor stroke patients and provide real-time insights to limit brain injury and death.
Panteya: A Patient Results Outcome tool to increase communications between specialists and patients to reduce recovery-related re-admissions.
SynBioTe: A novel bioprocess system allowing for on-demand production and supply of customised pharmaceutical products.
Since Health 10x was established in 2019, more than 80 start-ups have participated in the program, with 15 receiving funding or investment.
Health 10x is focused on the development of affordable health solutions addressing non-communicable diseases and other unmet needs. Health 10x is delivered by The George Institute for Global Health in partnership with UNSW Founders and supported by MTP Connect’s REDI initiative, and the Department of Industry, Science, Energy and Resources.
Applications for the fourth cohort of Health 10x will be open to med-tech start-ups nationwide early 2022.
A HEALTH 10x SUCCESS STORY: 23Strands
23Strands is providing trustworthy, evidence-based recommendations to patients and their clinical care teams, to enable truly personalised healthcare. This innovative early-stage business is using Artificial Intelligence to unlock patients’ Whole Human Genome Sequencing (WHGS) to improve individual outcomes while delivering a reduction in health costs through efficient and effective services via clinician colleagues. 23Strands’ mission is to make the latest advancements in WHGS affordable and accessible in underserved populations.
23Strands was showcased at the 2020 Health 10x Demo Night. As a result of the Health 10x program, 23Strands has rapidly established research agreements with Monash University, UNSW and global collaborations and attracted its first investors early 2021. It has commercially launched the Datar Cancer Genetics solutions in Australia and is currently working in partnership on a variety of projects in areas such as heart attack and fertility.