MedTech Innovator Asia Pacific Declares Competition Winner

APrevent has been named winner of the 2024 MedTech Innovator Asia Pacific Accelerator program Finals Competition and captured its $175,000 grand prize. Three other finalists—INOPASE (Japan), KA Imaging (Canada) and Qritive (Singapore)—each received $10,000.

“I am truly honored to receive this award and be recognized by such an esteemed program. The guidance and support from the MedTech Innovator accelerator have been invaluable, and this award motivates us to continue our innovations and create impactful solutions. Thank you for this incredible opportunity,” APrevent Co-Founder/Chief Operating Officer/Chief Technology Officer Mark Chang said.

The four finalists competed at the MedTech Innovator Asia Pacific 2024 Grand Finals hosted by MedTech Innovator and the Asia Pacific Medical Technology Association (APACMed) at the APACMed MedTech Forum, which took place Sept. 5-6 in Singapore. Following each finalist’s presentation, a panel of medtech executives engaged in a Q&A session with the finalist. The winner was determined by a live audience vote. The expert panel included Ashley Wittorf, head of Business Development, Johnson & Johnson MedTech Asia Pacific; Vy Tran, president of Asia Pacific and Japan, Siemens Healthineers; and Raphael Ong, APAC director, Strategy, Marketing & Commercial Excellence, Teleflex. Paul Grand, CEO of MedTech Innovator, served as emcee of the finals competition.
 
APrevent is a Taiwan-based company developing solutions for voice and speech disorders and is the first Taiwanese company to win the MedTech Innovator Asia Pacific accelerator program grand prize.
 
“APrevent’s VOIS offers a significant improvement for the lives of patients suffering from glottic insufficiency or vocal fold paralysis, designed to improve voice quality, reduce complications and enhance recovery through a minimally invasive procedure,” Grand stated. “Winning our grand prize is an incredible achievement, especially among this outstanding group of finalists and all our APAC cohort companies in the 2024 MedTech Innovator Asia Pacific Accelerator.”
 
Competition organizers awarded several other prizes besides the top $175,000 award:

• Gyder Surgical received the Johnson & Johnson – JLABS Asia Pacific Award, which includes membership to JLABS in Asia Pacific, access to the Johnson & Johnson Innovation – JLABS Asia Pacific and Investor Hub network, and mentorship for 12 months.
• INOPASE received the Cambridge Consultants Product Design & Development Award, securing $25,000 in-kind for exclusive technical and consultation services. Cambridge Consultants is a global product development and technology consultancy firms and is one of the primary mentors in MedTech Innovator’s Asia Pacific Accelerator.
• The Enterprise Singapore (EnterpriseSG) Startup SG Grant Award, comprising an SGD 20,000 grant prize and access to extensive resources and networks within Singapore’s startup ecosystem, went to Qritive. As part of this award, the company was fast-tracked to EnterpriseSG’s SLINGSHOT Top 50 global startup competition at the Singapore Week of Innovation & TeCHnology (SWITCH) this month.
• The Best Video Competition recognizes cohort companies’ excellence in effectively and creatively communicating their value proposition in a short video format. Alfaleus Technology was industry peers’ favorite and received both a $5,000 cash prize and Best Company Video title. 

The grand prize winner and all finalists were awarded a one-year membership to APACMed.
 
“APACMed is proud to partner with MedTech Innovator Asia Pacific, supporting our shared goals to identify, foster and mentor medtech innovation in the region to advance patient care,” APACMed CEO Harjit Gill commented. “Congratulations to APrevent and all the companies in this year’s cohort who are developing new diagnostics and medical devices.”
 
More than 400 companies applied for the Asia Pacific program this year, and after a rigorous selection process, 60 companies were invited to pitch, of which 20 were selected to complete the four-month accelerator program. Featuring medical device, diagnostic, and digital health companies worldwide, the 2024 Asia Pacific cohort companies received customized resources, mentorship, an unparalleled network of more than 600 global peers, exposure to industry leaders, and awarded over $300,000 in cash prizes and in-kind awards. During the APACMed MedTech Forum, all 20 accelerator companies were showcased to the conference attendees, representing the key leadership of the Asia Pacific medtech industry.

“We are impressed with the range of technologies in this year’s cohort and congratulate all participating companies on completing this year’s MedTech Innovator Asia Pacific Accelerator program,” Wittorf said. “Johnson & Johnson MedTech is proud of our continued support of MedTech Innovator APAC Accelerator in advancing new technologies for patients in our region, which we view as one of the most promising areas for medtech innovation.”
 
MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. MedTech Innovator’s Asia Pacific Accelerator sponsors and partners include Johnson & Johnson MedTech, W.L. Gore, Teleflex, B Braun Medical, Siemens Healthineers, Cambridge Consultants, Enterprise Singapore, and dozens of community partners. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
 
MedTech Innovator is the world’s largest accelerator of medical technology companies. Its mission is to improve human health by accelerating the growth of companies that are transforming care. MedTech Innovator has been a catalyst for groundbreaking healthcare solutions, reviewing nearly 12,000 applicants and fostering the growth of 717 companies that have collectively raised more than $8 billion in follow-on funding and introduced 345 products to the market. MedTech Innovator Asia Pacific unites best-in-class startups with investors, business leaders, and allied service professionals in the medtech industry to help drive commercialization of life-changing technologies in the region.

Founded in 2014 and headquartered in Singapore, APACMed represents manufacturers and suppliers of medical equipment, devices, and in-vitro diagnostics, industry associations, and other key stakeholders associated with the medical technology industry in Asia Pacific. Providing a unified voice for the medical devices and in-vitro diagnostics industry in Asia Pacific, APACMed works proactively with bilateral, regional, and local government bodies to shape policies, demonstrate the value of medical technology, and promote regulatory harmonization. APACMed strives to promote digital health innovation and impact policy that advances healthcare access for patients by engaging with medical device associations and companies in Asia Pacific.