Medtech Startup NousQ Receives US$175K Grand Prize for Pediatric Ear Tube Insertion Device
LOS ANGELES & SINGAPORE--(BUSINESS WIRE)--#awards--MedTech Innovator, the largest accelerator of medical devices 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 NousQ as the winner of the 2022 Asia Pacific Accelerator program. The winning company was determined by a live audience vote on Sept. 26 during the MedTech Innovator Asia Pacific 2022 Grand Finals hosted by MedTech Innovator in partnership with APACMed.
NousQ is a Singapore-based company that has developed CLiKX, a novel handheld robotic ventilation tube applicator that offers pediatric patients with otitis media a simple and quick alternative to invasive ventilation tube surgery.
“Being part of the MedTech Innovator program has supercharged our acceleration, helped uncover potential blind spots, and extended our networks,” said Lynne Lim, founder of NousQ, and Senior Consultant Ear Nose Throat Surgeon, and Adjunct Associate Professor and Visiting Consultant to the National University Health System Singapore. “The funding and continued support will provide significant value to NousQ as we work to transform the surgery for glue ear in children and adults.”
Selected from a pool of more than 250 applicants, NousQ was awarded the US$175,000 non-dilutive grand prize to advance its business goals and mission to improve future health outcomes of patients in the Asia Pacific region. The company was also awarded a one-year membership to APACMed and was the recipient of the Cambridge Consultants Product Development Award, where they will receive exclusive technical and consultation services from Cambridge Consultants.
Additionally, NousQ was announced winner of Enterprise Singapore’s (EnterpriseSG) Startup SG award, comprising an SGD$30,000 grant prize and access to extensive resources and networks within Singapore’s startup ecosystem. The company will also be fast-tracked to EnterpriseSG’s SLINGSHOT global startup competition happening at the Singapore Week of Innovation & TeCHnology (SWITCH) in October, where the Top 50 will pitch their solutions on a global stage and stand to win additional prizes.
“With otitis media being the leading cause of hearing loss in children, NousQ has the potential to provide a game-changing treatment alternative for millions of pediatric patients around the world,” said Paul Grand, CEO of MedTech Innovator. “We applaud the hard work and tenacity the NousQ team has demonstrated to earn its spot as the winner of our 2022 Asia Pacific Accelerator program, amidst several other awards.”
“My utmost congratulations to NousQ on winning the APAC MedTech Innovator 2022 title,” said Harjit Gill, CEO, APACMed. “The Asia Pacific region continues to be a magnet for medtech innovation and I am thrilled to witness the finalist companies who participated in this year’s competition are developing breakthrough technologies to advance healthcare for patients. APACMed is proud to support the MedTech Innovator APAC program and we look forward to watching NousQ’s journey and advancement as they advance their health solution towards commercialization.”
“Innovation is at the heart of Johnson & Johnson MedTech’s mission. Our strategic partnership with MedTech Innovator enables us to support APAC innovators to realise breakthrough healthcare solutions,” said Ashley Wittorf, Head of Business Development – Asia Pacific, Johnson & Johnson MedTech. “As one of the judges in the competition, I’m inspired by and congratulate all the amazing finalists this year.”
“Congratulations to the winners and finalists of the MedTech Innovator Asia Pacific competition,” said Audrey Lok, director of healthcare and biomedical, Enterprise Singapore. “We are strong supporters of MedTech Innovator’s accelerator model which pairs innovative startups with seasoned corporate mentors. We believe it takes a community to bring an idea to market and we are delighted to partner with MedTech Innovator for yet another successful run of their Asia Pacific accelerator and competition."
MedTech Innovator carefully selected 20 best-in-class startups from across Asia Pacific for its 2022 program, providing the companies with exposure to industry leaders and awarding over US$300,000 in cash prizes and in-kind awards. During its final competition, MedTech Innovator also announced the winners of several additional awards.
SharpArrow, Seattle, WA, was awarded one-year of residency by JLABS, Johnson & Johnson Innovation’s global network of life science incubators.
Medicaretec, Seoul, South Korea, received the Sterile Barrier System Design & Development Award from Oliver Healthcare Packaging, where they will receive exclusive technical and consultation services from Oliver Healthcare Packaging in the development of the sterile barrier system for their device.
ErleaDx, Singapore, was announced the winner of the MedTech Innovator Asia Pacific Best Video Award with a US$5,000 prize.
Judges of the 2022 Asia Pacific final competition included: Ashley Wittorf, head of business development – APAC, Johnson & Johnson MedTech; Sameer Desai, vice president of marketing, Asia Pacific, Align Technology; Purushottam Awasthi, senior vice president and head of strategy and business development, Asia Pacific and Japan, Siemens Healthineers; and Dr. Joseph Smith, chief scientific officer, Becton Dickinson (BD).
MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. MedTech Innovator’s 2022 Asia Pacific program sponsors include Johnson & Johnson MedTech, Nipro Medical Corporation, Align Technology, Oliver Healthcare Packaging, Siemens Healthineers, Cambridge Consultants, Jabil Healthcare and Enterprise Singapore. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the largest accelerator of medical technology companies in the world and the premier nonprofit startup accelerator in the medical technology industry.[i] Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the health care system. MedTech Innovator matches health care industry leaders with innovative early stage and emerging growth medtech companies for mentorship and support.
To date, MedTech Innovator has supported 509 alumni companies that have gone on to raise US$5.3 billion in follow-on funding, brought 130 products to market, and achieved 30 exits.
For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter and on LinkedIn. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to its monthly newsletter.
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.
[i] Gibbs, M., Johnson, B., Silva, B. A., & Berube, K. (2020, July 10). Q2 2020 Life Science Accelerators Insights Cipher Bio. Retrieved September 15, 2020, from https://www.cipherbio.com/blog/life-science-accelerators-insights/
Pazanga Health Communications