Up to $40,000 is available for young entrepreneurs to assist with commercialisation of medical technology innovations.
MedTech’s Got Talent is a unique entrepreneurship challenge supporting emerging entrepreneurs to develop and refine skills in pitching a business concept, developing a technology roadmap and launching commercialisation activities for their medical technology innovations.
The objective of MedTech’s Got Talent is to develop a more entrepreneurial culture driven by promising young entrepreneurs within a growing enabling technology ecosystem.
What is ‘Medtech’?
For the purposes of this challenge, ‘medtech’ is any technology or service related to medical devices, diagnostics, or ehealth/health IT. This can include many applications in related fields like sports tech or veterinary. In general, pharmaceuticals and biopharmaceuticals are ineligible unless in a drug-device combination.
The MedTech’s Got Talent challenge is for business and/or product concepts in the seed, start-up or early growth stages. This includes start-ups or spin-outs from university technologies or established businesses.
Generally excluded are the following: buy-outs, expansions of existing companies, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spin-outs from existing corporations (except when addressing a new idea or significantly expands an existing service or product).
Licensing technologies from universities or research labs is encouraged, assuming they have not been commercialised previously.
Applications must have at least one of the following participants actively participating in their team to qualify:
- Enrolled in good standing in an secondary or tertiary (undergraduate, Masters or PhD program) at a Victorian education institute
- Employed in good standing as a PostDoc at a Victorian university, research institute, hospital or company
- Recently graduated alumnus and currently residing in Victoria (graduated within the last five years: 2010-2014)
Individuals may serve as the qualifying team member (currently registered student, currently employed PostDoc, recent graduate) for exactly one team for the whole contest.
The following people are ineligible:
- Those who were associated directly or indirectly with the Challenge administration in the last 24 months
- Those who were 2013 mentors, judges or sponsors
- Those whoa t the discretion of the Committee are considered to have a possible conflict of interest or an unreasonable advantage over other applicants, or whose participation could be perceived as jeopardising the integrity and good standing of the Challenge
MedTech’s Got Talent Winners will get:
- $20,000 cash prize for five finalists
- $40,000 for Grand Prize winner
- People’s Choice Award crowdfunding
- Thousands of dollars in in-kind services
- Office space in ‘The Tap’ advanced technology coworking space
Applications for MedTech’s Got Talent close 8 April 2015