Medical device company developing solutions for voice and speech disorders is awarded Grand Prize of USD 175,000 at the 6th annual grand finals event hosted by MedTech Innovator Asia Pacific in partnership with APACMed

MedTech Innovator, the largest accelerator of medical technology companies in the world, in partnership with Asia Pacific Medical Technology Association (APACMed), the first and only regional association to provide a unified voice for the medical technology industry, today announced that APrevent was named the 2024 MedTech Innovator Asia Pacific Accelerator program Finals Competition Winner and was awarded the USD 175,000 grand prize. The other finalists, INOPASE (Japan), KA Imaging (Canada) and Qritive (Singapore), will each receive USD 10,000.

The four finalists competed at the MedTech Innovator Asia Pacific 2024 Grand Finals hosted by MedTech Innovator in partnership with APACMed at the APACMed MedTech Forum, which took place September 5th and 6th, in Singapore. Following each finalist’s presentation, a panel of distinguished 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 that has developed innovative solutions for voice and speech disorders and is the first Taiwanese company to win the MedTech Innovator Asia Pacific accelerator program Grand Prize.

“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,” said Mark Chang, Co-Founder, COO & CTO of APrevent.

“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,” said Paul Grand, CEO of MedTech Innovator. “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.”

In addition to APrevent’s Grand Prize of USD 175,000 in non-dilutive funding, several additional prizes were awarded:

  • Gyder Surgical took home 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 was awarded the Cambridge Consultants Product Design & Development Award, where they will receive USD 25,000 in-kind for exclusive technical and consultation services. Cambridge Consultants is one of the world’s leading 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) in October.
  • The Best Video Competition, recognizing cohort companies’ excellence in effectively and creatively communicating their value proposition in a short video format, was voted by industry peers. Alfaleus Technology takes home the USD 5,000 cash prize and the title of Best Company Video.

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,” said Harjit Gill, CEO at APACMed. “Congratulations to APrevent and all the companies in this year’s cohort who are developing new diagnostics and medical devices.”

“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,” said Ashley Wittorf, Head of Business Development – Asia Pacific, Johnson & Johnson MedTech. “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.”

Over 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 from around the globe, the 2024 Asia Pacific cohort companies received customized resources, mentorship, an unparalleled network of over 600 global peers, exposure to industry leaders, and awarded over USD 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.

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, and Enterprise Singapore, and dozens of community partners. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.

About MedTech Innovator

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 over USD 8 billion in follow-on funding and introduced 345 products to the market, transforming the lives of millions.

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.

For more information about MedTech Innovator, its annual programs, portfolio of industry-leading startups, and insights on trends, visit MTI’s website, follow them on LinkedIn, and subscribe to its monthly newsletter.

About APACMed

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.

APACMed is also host to the annual Asia Pacific MedTech Forum.

www.apacmed.org

Media Contact: Helen Shik Pazanga Health Communications hshik@pazangahealth.com 617.510.4373