The next generation of biomedical innovators and entrepreneurs from around the globe converged at the University of Melbourne today to explore how they can help the industry enhance the research commercialisation ecosystem.
Hosted in partnership between Biodesign Australia and Taipei Medical University, the 2024 Biomedical Engineering Innovation, Design and Entrepreneurial Alliance Asia-Pacific (BME IDEA APAC) brought together experts from seven Asia-Pacific countries to develop new approaches to educating the next generation of biomedical innovators.
University of Melbourne's Professor David Grayden, who is also Co-Director of Biodesign Australia, explained the significance of the conference to researchers and local entrepreneurs.
"The unique innovation and entrepreneurial focus of the Biodesign program makes it highly effective at generating technologies that are not just fit for purpose, but market-ready," he said.
"Biodesign involves a significant strategy development and business planning component, meaning that projects emerge from Biodesign programs with clear paths to regulatory approval and reimbursement that sets them up for transition into successful businesses."
Biodesign Innovation originated at Stanford University and is taught in institutions across the world, training the next generation of biomedical innovators and entrepreneurs.
Biodesign Innovation alumni have gone on to found multiple spin-out companies to commercialise the technologies they've developed as part of the program, including ophthalmic care company Vysum.
Vysum founder and Biodesign Innovation alum Lorace Zhang credits the program with helping to launch her career.
"The Biodesign Innovation program was the highlight of my master's degree, helping me gain valuable skills in needs finding, market validation, prototyping, and business planning – the fundamental principles of technology innovation," she said.
"I am grateful for the path that Biodesign has opened up for me and for the support of its extended global network, helping to make my entrepreneurial journey both rewarding and fulfilling."
The ninth instalment of the workshop is supported by the Victorian Medtech Skills and Devices Hub – an initiative of the Department of Jobs, Skills, Industry and Regions – reiterating the Victorian Government's commitment to the medtech sector.
As part of this year's event, a one-day Showcase will allow the public to explore the medtech innovation and entrepreneurship in the international Biodesign community and the Australian start-up ecosystem through panel discussions, expert presentations, and technology demonstrations.
BME IDEA APAC 2024 will run on 26th, 27th and 29th of October, with the public showcase to be held at University of Melbourne on 28th October.
