BioMelbourne Network invites you to join us for a full day BioSymposium to explore the Victorian MedTech ecosystem. This event will examine the key drivers behind successful innovation, translation and commercialisation of medical devices and diagnostics in Victoria and take a deep dive into the environment and the approach being taken to further develop the ecosystem.
Further, the event will investigate origins of demand and the benefits and challenges of research-driven and market-driven technologies.
Are there other aspects of health and wellness we can consider as avenues of demand? Does all demand come from patient clinical needs? Not everyone is a patient, but this does not mean they do not have need of innovative technologies that can improve their wellbeing and quality of life.
Our speakers, coming from all stages of the translational process – design, development, start-ups, large companies, patient advocacy and research – will discuss the merits of fundamental research as well as pure market demand driven models and the requirements that will ensure a valuable, proactive ecosystem. If all research was driven purely by market demand, would we miss out on so many excellent new technologies and opportunities for innovation?
Finally, the event will include the presentation of case studies.
Who should attend?
Business executives (SME & MNC), start-ups, entrepreneurs, investors, product developers, clinicians, researchers, and industry experts across medical technology, ICT, engineering, design, manufacturing and healthtech innovation.
Date: Tuesday 5 April 2022
Time: 8:45am – 5pm (followed by networking)
Venue: Melbourne CBD venue TBA
Speakers: Speakers to be announced soon
Session 1: Journey to Market – The Victorian Ecosystem
The MedTech ecosystem in Victoria is rich and complex, with a strong industry base which has been ranked amongst the best in the world – especially in terms of innovation output. With the global MedTech market growing fast, Victoria can take advantage of this time of growth and cement Victoria’s position as a global leader in MedTech and a hub for innovation and facilitation of market opportunities.
This session will provide an overview of the Victorian ecosystem that supports the journey from research to commercialisation. It will also introduce and describe the report on the Department of Jobs, Precincts and Regions project undertaken to map Victoria’s MedTech product development infrastructure. It will start to raise the questions about how we can improve the ecosystem so that it is one of the best in the world.
Session 2: Innovation And Translation – The Origins Of Demand
All too often we limit the origins of MedTech demand to hospital and clinical settings, where MedTech is designed and translated to provide treatment to patients. But not all demand comes from patients and often MedTech development comes from innovation not research. The wellness and quality of life of all people, can and should also be considered demand for MedTech .
This session will explore different ways of thinking about the origins of MedTech demand outside of the traditional treatment/patient avenue . It will explain the potential funding models available MedTech and how these models work with and affect demand and development. Session 2 will also provide a view on people-centric approaches to design and development as well as designing for market fit and where to find the market need.
Session 3: Research-Push vs. Demand-Pull – A Commercialisation Discussion
Technology innovation and transfer occurs in two directions: research (or supply)-push and demand-pull. With the demand-pull model, the buyer, or user, of technology outlines the characteristics of technology to create demand, whereas with the supply-pull model, it is the supplier, or researcher that determines the attributes of the technology. Both models of technology development present benefits and challenges and it has been suggested that a combined approach will yield the most innovation and technology development.
Session 3 will bring together speakers from both research and industry for a discussion of the values and merits of both research driven and demand driven technology development models and highlight the challenges and opportunities for both. The aim will be to clarify the current trends, myths, and facts as well as challenge people to think differently about the development models they are using. Furthermore, this session will explore how to start open-ended conversations regarding these models and with whom to have these conversations.
This session will be a panel and therefore a great opportunity for attendees to express opinions and put questions to the panel.
Session 4: Translation In Action – Medtech Origin Stories
The final session will include company presentations together with practical examples, insights and experiences. The speakers will discuss the origin of their own start-ups and how they may have shifted between the different technology models either in a planned, expected way or not. How did they manage the shift between these models to strike a balance and how did this impact the process and outcomes. You may believe you have a demand for you technology but until you test it against the market. Equally you may believe you have a market demand but have to return to the research to make it happen. What are the missing pieces, what isn’t working, what needs to change and how can we make this a more vibrant ecosystem.