Callaghan Innovation is co-leading a mission in March to the Texas Medical Center in Houston, where Kiwi med-tech company representatives and academics will take part in a learning and networking opportunity aimed at putting their work in the global spotlight.
The inaugural delegation is made up of a cross section of New Zealand med-tech companies and researchers with symbiotic interests. The group of 20 has been selected for their expertise, international outreach, and unique combination of R&D and business skills.
Prize-winner’s rare opportunity
Uri-Go was named the winner of Callaghan Innovation’s 2017 C-Prize technology competition in December.
Winning C-Prize has already netted the start-up support worth $100,000 to develop and market its innovative sensor, created for people who have difficulties telling if they need to go to the bathroom. This can include those with a spinal cord injury, Parkinson’s disease or numerous other conditions.
The additional backing enabling him to be part of the Houston mission is the icing on the cake, Mike Brown says. It’s a priceless opportunity to learn more about the all-important US med-tech market and make contact with global experts, as Uri-Go gears up to launch its product internationally, he says.
“As we continue the journey to commercialise our sensor, being able to network and learn from world-leading experts at such a major global centre of innovation will be an invaluable experience,” he says.
“I’m sure I’ll come away from the trip with a wealth of new knowledge, contacts and insights about the global med-tech ecosystem that will accelerate our path to market.”
Bigger than Texas
The Texas Medical Center is the largest medical complex in the world and plays a significant role in advancing life sciences globally.
Over 160,000 people visit the centre each day and it employs 106,000 staff across 54 institutions.
Among other impressive credentials, it is home to the world’s largest children’s hospital and the world’s largest cancer hospital.
Patients from across the US and all over the world visit the centre to receive care from some of the best doctors in their field. Incredible breakthroughs in diagnosis and treatment happen at the campus' eight different academic and research institutions, not to mention the 21 different hospitals.
The Callaghan Innovation mission has been organised in partnership with the Consortium for Medical Device Technologies (CMDT) and The MedTech Centre of Research Excellence (MedTech CoRE), and is also being sponsored by the Ministry of Business, Innovation and Employment and Houston-based business strategic partnership specialists Noel Group.
It is the first international delegation to be hosted by Houston Exponential (HX), a new programme set up by the city’s business groups, technology incubators and the mayor’s office to turn Houston into a top 10 start-up ecosystem by 2022. The Kiwi delegation’s key areas of interest have been aligned with those of Houston’s med-tech research and investment communities.
Making vital international connections
A Kiwi med-tech start-up co-founder flying to Houston is Greg Shanahan, Managing Director of Veriphi, the developer of a device which uses laser verification to prevent injury and death from intravenous (IV) medication error in hospitals.
Veriphi has successfully completed proof of concept blind trials of its device – which analyses and verifies the actual drug being administered intravenously – and is now building a commercially specified version.
As Veriphi looks towards eventual international expansion, the Houston mission will provide a deeper understanding of the US clinical and commercial environment for the company’s solution, Greg says.
“The visit to the Texas Medical Center will also enable us to engage with potential research and commercial partners and the insights from the trip will be invaluable in helping us plan the implementation of our US and global market strategies,” he says.
Other companies participating in the delegation include: MoleMap, Tiro Medical, SHI Global, SAFERSleep and Molteno Ophthalmic. Each has specific objectives for the trip, ranging from finding business partners, investors and management experts, through to improving their global market knowledge and building new international connections and relationships.
Also taking part in the mission are nine leading medical technology researchers from four New Zealand Universities and MedTech CoRE.
Tapping New Zealand’s med-tech potential
Kiwi companies in the health technology sector make a substantial contribution to the economy and are “highly motivated and capable of delivering some of the new technologies that will bring … improved outcomes to health systems and patients, both locally and on a global scale,” according to a major 2016 report on the sector.
The New Zealand Health Technology Review found the country’s health information technology (IT) and medical device companies turned over $1.3 billion in the 2015 financial year.
“The pipeline of smaller companies innovating in health technologies should be an important focus for further support in the health innovation ecosystem as these are the future stars that will enhance New Zealand’s health and economic performance,” the report concluded.
Taking kiwi med-tech innovations to the world
As New Zealand’s innovation agency, Callaghan Innovation works with New Zealand med-tech businesses to develop and commercialise their new technology ideas.
Our specialised med-tech team nurtures and challenges our customers. We help navigate innovation, open up channels for co-funding, and connect businesses to R&D expertise.
So if your business is in the med-tech space and is looking for support and assistance to grow, talk to us now about developing products and capabilities with a global view in mind.