The Medical Technology* (MedTech) Ventures Initiative has been set up by the Entrepreneurship Centre at Cambridge Judge Business School to provide dedicated and relevant support to those working in this sector.
The MedTech Venture Competition is designed to help individuals or startups who are working on a novel medical technology or exciting idea in the early stages of development that has commercial potential. The aim is to provide innovators and aspiring entrepreneurs with a route to specialist support and a platform to translate ideas into real world applications and businesses. It may also act as a route to Accelerate Cambridge for those businesses who meet the selection criteria.
*Medical technology is defined as any device, procedure or system that solves a health problem (diagnosing, monitoring or treating).
Congenita, a company which has designed software to create personalised 3D models for surgeons to correct congenital heart defects in newborn babies, was awarded the first prize of £10,000 by the panel of judges.
Second place in the MedTech Venture Competition and a cash prize of £5,000 was awarded to DeepSkin, a venture that is developing novel imaging tools to diagnose skin disease. Third place was awarded jointly to Early Access Oncology and Sura. Both ventures receive £3,000. Early Access Oncology provides a pharmacogenomic test for cancer treatment. Sura is a personal medicine platform that tailors and monitors oral contraceptive use based on a woman’s unique biological profile, medical history, mental health, genetics and hormone levels.
Applications for the competition have now closed.
The benefits gained vary depending on what stage you reach in the competition. These include:
- tailored mentoring and business advice relevant to the sector
- access to a high value network of peers, academics, industry experts and investors
- the opportunity to learn how to improve your pitch deck and your pitch
- specific advice and feedback on your application and idea
- the chance to participate in our Accelerate Cambridge programme
- cash prizes to invest in your business
Who can apply?
The competition is open to those who meet the following entry criteria:
- Scientists, researchers, students, technologists, founders working on a novel medical technology or early stage idea that has commercialisation potential.
- Registered company which is less than two years old with a novel medical technology or early stage idea that has commercialisation potential.
Those interested in participating should complete the online application form and submit by the advertised deadline. Applicants may opt to provide additional supporting documents such as a pitch deck, business canvas model and/or a video.
What could you win?
Finalists will receive:
- Cash prizes of £10,000, £5,000 and £3,000 (subject to the judges’ final decision)
- Places on Accelerate Cambridge to be awarded to finalists (subject to additional conditions)