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MedTech Actuator to help medtech startups to bring discoveries to market in Victoria

MedTech Actuator to help medtech startups to bring discoveries to market in Victoria

Victorian medical technology startups will have access to
unprecedented financial support with the Andrews Labor Government securing the
national headquarters of the MedTech
Actuator
program.

The program will offer innovative startups up to AU$2.7
million in funding over 15 months. This, combined with Commonwealth R&D tax
incentives, means startups could access nearly AU$4 million to help them bring
their discoveries to market.

The MedTech Actuator will help more local entrepreneurs and
startups take their great ideas from the lab to the marketplace – driving more
jobs and investment in this fast-growing sector, according to the media
release
.

Backed by venture capital firm Artesian, the Medtech
Actuator will run intensive 15 month programs to help up to 40 startups each
year commercialise their discoveries.

The Actuator aims to: expedite technology transfer and
research translation; create a dynamic workspace environment; provide a
mentorship program; drive agile product development; de-risk early stage ideas;
stimulate the startup ecosystem; and bring together industry and stakeholder
groups to pool efforts and increase impact.

Supporting Victorian innovators will help to secure advanced
manufacturing jobs and a bigger share of the global medical technology market
that is expected to be worth over AU$500 billion by 2022.

Basing the national startup headquarters in Victoria will
help grow the concentration of medtech companies here, attract international
investors and up-skill local talent.

The Labor Government has already identified medtech and
pharma as a key growth industry of the future. It is helping the sector grow
with a dedicated sector strategy and targeted investment through the Future
Industry Fund.

The Labor Government also supports Victoria’s best and
brightest entrepreneurs through the AU$60 million LaunchVic fund as part of its
push to position the state as the number one tech destination in the Asia
Pacific.

The Medtech Actuator announcement comes on the same day as
Melbourne hosts Medtech’s Got Talent (MTGT) –
Australia’s largest medtech startup competition. The Labor Government has
supported MTGT for a number of years and this year’s winners will be announced
this evening.

Minister for Innovation and the Digital Economy Philip
Dalidakis said, “Melbourne is the natural home for the Medtech Actuator’s
national headquarters – we have one of the world’s largest life science
clusters, with world leading research and advanced manufacturing capability.”

“Our potential to create innovative healthcare solutions is
among the world’s best and our local startups are leading the way.”

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.