Introducing Australia’s Medtech Actuator

Shot of the Actuator prospectus

What is a Medtech Actuator?
Literally speaking, it’s a mechanical component that moves part of a machine – ‘a mover’. And getting things going is what the Medtech Actuator does for medical technology inventors; it helps get their business moving and get their product market-ready.

But it’s also more than that. According to Actuator CEO Dr Buzz Palmer, it’s a way to grow the next generation of entrepreneurs and help position Victoria as the healthcare capital of the world.

Entry to Actuator programs is by a competitive process, and most successful applicants are first-time entrepreneurs whose inventions have potential to improve patient care and wellbeing.

Melbourne’s Docklands is home to the national headquarters of the Medtech Actuator, which is in the Victorian Innovation Hub.

The Hub is a new centre for tech organisations including data innovation group Data61, Australia’s first agriculture technology accelerator SproutX, and Stone & Chalk, a not-for-profit financial technology hub.

Watch the video to hear from some of the current participants and the exciting products they’re working on:

Video transcript –  Introducing the Actuator – Australia’s Medtech Accelerator

[Dr Buzz Palmer – CEO of The Actuator]

Hi, my name’s Dr. Buzz Palmer. I’m the CEO of The Actuator, Australia’s National Medtech Catalyst.

So we see a lot of opportunity in Australia in Medtech, but we don’t see a pathway for those new entrepreneurs to take their ideas further. So what we’ve decided to do is enable a pathway, a pipeline of opportunity to focus on three major areas: the first is capital, second thing is capability, and of course the third thing, the reason that we sort of did the Actuator, was because a lot of the entrepreneurs in Medtech are first time entrepreneurs, which is a huge risk.

[Neil Svensartech –  Tunicare]

My name is Neil Svensartech from Tunicare and we are developing a clamp style, blood pressure monitor that easily clips on to the upper arm.

[Shing Yue Sheung. – NAVI Medical Technologies]

My name is Shing Yue Sheung. I’m co-founder of NAVI Medical Technologies. We’re creating a medical device to improve the lives of critically ill newborns.

It’s an overlooked problem in newborns. There are similar medical devices in the adult medicine market but they rely on slightly different technologies and rely on slightly different methods to be able to provide this similar real time feedback.

The Actuator has given us the right resources, the right connections, so that we can really execute on the structure and planning framework that they have and that we can really meet the right milestones to get our product into the market.

[Neil Svensartech –  Tunicare]

The guidance and the mentoring are two big aspects for me but most of all, I enjoy the network that the Actuator brings along.

[Dr Buzz Palmer – CEO of The Actuator]

The Goods Shed’s great. The thing about the Good Shed is that we’re surrounded by an organic group of people. We’ve got the stone and chalk of Fintech group, we’ve got Launch Big, we’ve got Sproutext, the national agriculture accelerator and of course the Actuator here.

We need to grow the next generation of entrepreneurs, the next generation of leaders, we need to grow the next generation of start ups, and really start positioning ourselves globally as a health care capital of the world.

[Narrator] Authorised by the Victorian Government, 1 Treasury Place, Melbourne.