The HealthTech Activator provides healthtech innovators and early-stage businesses access to programmes and services targeted to their needs. The Activator’s aim is to provide a wraparound service, no matter where you are on your innovation journey.
From Fisher & Paykel Healthcare’s famed ‘preserving-jar’ humidifier prototype, to Colin Murdoch’s invention of the disposable syringe, NZ has an impressive heritage when it comes to healthtech innovation.
Today, healthtech firms rank among some of NZ's most globally successful businesses and NZ's healthtech sector shows impressive growth potential.
Healthtech firms accounted for 11% of our top 200 technology businesses in 2019. In the 2020-21 financial year, healthtech firms generated an estimated $2.85 billion in revenue, demonstrating a seven-year compound annual growth rate of 13%.
Healthtech innovators, however, face some unique challenges on the path to commercialisation. These include stringent regulatory and clinical trial requirements, higher capital needs and longer commercialisation pathways.
And importantly, these needs haven’t typically been well catered for by existing, generalised business interventions and advice.
To meet these challenges, Callaghan Innovation and the Consortium for Medical Device Technologies (CMDT), with support from the Ministry of Business, Innovation and Employment (MBIE), have developed the HealthTech Activator.
The Activator aims to deliver improved connectivity, and more seamless funding and capability-building programmes and services, for New Zealand healthtech businesses.
The HealthTech Activator also supports the implementation of the Ministry of Health’s New Zealand Health Research Strategy 2017–2027, by supporting transformative and innovative ideas in the health sector.
Commercialisation opportunities in healthtech spring from many sources: from scientists undertaking research in our universities and Crown Research Institutes, to clinicians working in our hospitals, to entrepreneurs who recognise an unmet need but who may have a limited healthcare background.
Opportunities can also present themselves at all development stages in our healthtech ecosystem: from a clinician with the kernel of an idea for a business, to an established company with products or services already in-market.
Could your business benefit from the HealthTech Activator?
Callaghan Innovation will also encourage the co-location of emerging healthtech businesses to aid their development.
So, you’re an entrepreneur, clinician or scientist with a smart healthtech idea. What next?
How do you find out if there’s a market for that idea or what funding and capability support is available, or find funders who might back your idea?
The Healthtech Activator can help.
We can provide access to the advice, education, services and support you need, including:
Callaghan Innovation is leading the HealthTech Activator, working closely with the Consortium for Medical Device Technologies.
The Consortium for Medical Device Technologies (CMDT) was established to help grow the medical device industry in NZ. The CMDT is a national resource linking research activities at NZ Universities and Crown Research Institutes and agencies with companies, healthcare providers, regulatory and industry bodies, the Health Innovation Hub, and the Commercialisation Partner Networks.
To strengthen connection and collaborations within the MedTech innovation ecosystem, the CMDT have developed the following strategic initiatives: Te Tītoki Mataora, the BioBridge, and Women in HealthTech.