Melbourne, Australia, April 12, 2017 --(PR.com
)-- The $40,000 top prize in STC’s MedTech’s Got Talent competition has been awarded to Elizabeth Williams and Kate Lomas from Hemideina, who are out to change the world with the first major innovation to the cochlear implant in decades, achieving internalisation that dramatically improves patient quality of life.
From over 100 applications, Hemideina emerged as the overall most investible team after a series of elimination rounds, including $20,000 (non-dilutive) funding and a place in our intensive 6-week accelerator program. The program culminated in an Investor Deal Pitch, where a panel of seasoned seed-stage investors selected Hemideina to receive an additional $40,000 (non-dilutive) in prize money to drive their project towards commercialisation.
Spun out of research at the University of Auckland, Hemideina is disrupting the $1.8bn cochlear implant market with their fully internalised, 2-component cochlear implant. By internalising the hearing device, Hemideina will remove existing lifestyle restrictions, and aim to produce a lower cost cochlear implant. Making waves in sound, this startup is set to enter clinical testing soon.
Minister Dalidakis said, "Medtech's Got Talent is an innovative event showcasing the very best of Victoria's growing medtech sector. Congratulations to all the companies that took part and Hemideina on their victory."
MedTech’s Got Talent was primarily supported by the Victorian Government through the Department of Economic Development, Jobs, Transport and Resources. Further sponsors of the initiative were the Australian Government (Department of Industry, Innovation, and Science), MTP Connect, Medtronic, MiniFAB, and Johnson & Johnson.
STC promotes commercialisation and entrepreneurship around next-generation innovations with programs that grow new businesses. Many sectors, like biotechnology, medical devices, life science and information technology, are converging around this rapidly growing core of cutting edge innovation. STC seeds and catalyses new industry opportunities through the development and uptake of small and emerging technologies. STC provides the infrastructure to accelerate commercialization, links with key stakeholders across industry, government and academia necessary to nurture cross-fertilisation of innovation, and is the clear and consistent voice of those developing, integrating, or supporting emerging enabling technologies. For more information on STC programs, please visit www.STCaustralia.org.