The ‘MedTech Actuator’ is an accelerator program which supports innovators who are keen to transform medical industry thorough innovative technology or healthcare ideas. The organization hosts different events and programs all over Australia to bring forth the ideas which will help the medical industry. On Monday,24th June 2019, they ran an event called Sydney Startup Bootcamp, which I, Muhammad Salman, was fortunate enough to attend. It was organized by them to introduce one of its programs named ‘MedTech’s Got Talent’. It is one of Australia’s largest medical device ore-accelerator programs. The event provided insight into how MedTech actuator helps different startups to convert their ideas into reality by providing necessary training and assistance in commercializing the product or the idea.
The event briefly discussed the commercialization journey and pitfalls. It also highlighted the importance of fully-owned IP (Intellectual Property). As our product, the Smart Inclining Bed is patented and fully owned by us, the chances of winning for our company in ‘MedTech Got Talent’ increases dramatically. But more importantly, in a field where intellectual property protects years of investments into research and development, it’s a necessity to ensure your IP protects your innovations!
Ensure your IP is protected or you might find it a pain in the neck – something our device may help fix!
One of the main highlights of the event was a panel of entrepreneurs who shared their journey and answered many questions as well as provided tips for startup companies. Though hospital beds are already in the market, a cheap alternative not only for the medical industry, but also for ordinary consumers is what our team at ‘Get to Sleep Easy’ is working on. Ours are not only cheaper, but will also be smarter, utilising AI and our unique sensors to provide never-before-seen insights into sleep. We’re very close to bringing the idea to reality, in fact! We’ve got working minimal viable products (MVPs) that we’re testing with beta testers and, soon after, clinically trialing with nursing home partners too!
The MedTech’s Got Talent competition will help us in bringing one more step closer to our goal. The winner of this challenge will not only get a cash prize but necessary industrial training and on-going support from the MedTech Actuator accelerator in different stages of product development and commercialization. It was a great experience for all who attended!