Backing more of our medtech innovators

Published: 14 December 2021

New funding for Victoria’s MedTech entrepreneurs will cement Melbourne’s reputation as a leader in global healthcare innovation.

The life sciences accelerator MedTech Actuator will receive a further $2.4 million funding from LaunchVic to scale up its operations and meet the growing demand for global health solutions.

The three-year investment will double the accelerator program’s intake and expand the team to support at least 30 Victorian startups.

The funding will also enable MedTech Actuator to extend its reach to support and encourage emerging entrepreneurs in Victoria.

With its global headquarters in Melbourne, the MedTech Actuator supports Victorian MedTech, HealthTech and BioTech startups through intensive mentorship, industry collaboration, and capital raising support.

Founded in 2018 by serial MedTech entrepreneurs and health policy experts, the program has already unlocked $62 million in venture funding and upskilled more than 2,500 clinical and research innovators.

Nutromics, a Melbourne-based startup developing a Continuous Molecular Monitoring (CMM) platform – a wearable ‘lab on the skin’ device providing real-time continuous molecular level insights for remote patient monitoring, is just one example of funding recipients. Since being founded in 2017, Nutromics has raised $10 million.

Through LaunchVic, the Victorian Government is delivering a number of programs to support startups and investors to grow such as the $10 million Alice Anderson Fund, which is helping female founders access early-stage funding, and the $60.5 million Victorian Startup Capital Fund, which is injecting more capital into local startups.

Find out more about LaunchVic and its MedTech program.