The House of MedTech, an initiative by the cross border impact investor, R3i Ventures, has launched in Luxembourg. A digital fabric aligned to the region's research institutions, forged from a collaboration with UCSF Health Hub and guidance from the Ministry of Economy, has been designed by serial health entrepreneurs and investors to connect global healthcare visionaries with the talent, know-how, and access to capital to scale breakthrough innovation for impact.
R3i's House of MedTech is a digital foundry of founders, doctors, research scientists, investors, navigators, mentors and advisors, purpose-built to nurture and accelerate breakthrough healthcare ventures.
The House of MedTech has been launched as a single door and soft landing via Luxembourg to access the European Health ecosystems for accelerated market access and reimbursement. It is one door that swings both ways for Clinical innovation projects to access the European and Asia Pacific digital health community and one door for CVC’s and the Venture Capital community to deal source for M&A and open innovation.
As of 2020, the Asia Pacific is a $USD133B MedTech market. The need for healthcare in the Asia-Pacific region is rising quickly. The region is home to more than half of the world’s population, and faces a rapidly growing disease burden from aging and lifestyle changes. Expanding incomes and broader awareness of health issues are also contributing to this picture, and healthcare demand will continue to outstrip supply for the foreseeable future.
Although medical technology companies have been active in the region for many years, helping to raise healthcare standards, they face numerous obstacles as they seek to serve a bigger pool of patients. Along with a low risk appetite to the region, MedTech companies have been hindered by specific obstacles: limited financial resources and a frugal attitude toward spending on healthcare; multiple customer segments that are difficult to serve efficiently; underdeveloped medical infrastructure and workforce, which inhibits the adoption and use of new technology; a fragmented and inconsistent set of regulatory and reimbursement regimes that serve as a deterrent to introducing new technology; intense competition from regional start-ups, as well as increasingly from global leaders in adjacent industries, such as high tech and consumer electronics. With the complexities of COVID19, these obstacles are unlikely to fade anytime soon. As a result, 80% of the region's MedTech innovation is imported.
Our region's founders need better connections, access to capital and access to patient populations for clinical validation and accelerated regulatory pathway. Researchers and Doctors want accelerated business expertise and consumer access to test the validity of their inventions. Mentors and Advisors want to provide maximum value for their experience and expertise. Our Community members are looking for employment. Corporates want to curate for open innovation, investors want access to quality deal flow and investments and Countries want access to healthcare to ensure national security.
“The House of MedTech includes a networking mechanism, called Compass, through which healthcare entrepreneurs, clinicians, and students can connect with business resources and expertise, while also linking mentors, advisors, and potential partners and investors in all forms of digital health and medtech with our Luxembourg and European healthcare ecosystem,” said Leesa Soulodre, General Partner of R3i Ventures.
It can take up to 17 years to take healthcare inventions from R&D to clinical practice. Through R3i's collaboration with the Research Institutes of Luxembourg and the Ministry of Economy and LuxInnovation, the House of MedTech aims to leverage the strength and research of its global Compass network of Advisors to accelerate the translation of its communities' scientific ideas and advances in healthcare. It is purpose built to deliver breakthroughs that will promote the health of the European community and the advancement of science generally, as well as to provide access to a single market entry soft landing pad, strategically positioned in the European Union.
Through the House of MedTech Compass platform, entrepreneurs can sell their solution, find technical resources, clinical advisors & luminaries, secure access to CE mark design studies, run validation pilots, secure commercial agreements with Corporates and Investors, and access referrals to other research agencies and system hospitals that can help them to scale their research collaborations and market access.
The House of MedTech is proud to host a roster of experienced tech entrepreneurs, investors and advisors that Research faculty, researchers and students can access directly. Compass has been designed to prioritise global teams for admittance and participation in its programs, however, it will also accommodate European teams, based upon a rigorous selection process.
R3i's network of Navigators include seasoned experts in venture capital, healthcare and diagnostics innovation, IP, brand protection and anti counterfeit, big data, cybersecurity and artificial intelligence.
The House of MedTech will provide a monthly schedule of digital educational activities, including webinars, presentations, workshops, and gatherings to support education and scientific research in connection with healthcare innovation and entrepreneurship.
"The House of MedTech - transforming healthcare outcomes and saving lives, one startup at a time."
“The House of MedTech will support the brightest founding teams who adhere to the highest standards of ethical behaviour and whose integrity will complement the work of our Corporate and Research Collaborators,” said Leesa Soulodre, General Partner of R3i Ventures. “Companies, mentors, investors, clinical researchers and qualified healthcare practitioners are all welcome to sign up with Compass now, so they can "connect, engage and collaborate! Together we can inspire possible, and transform healthcare for our societies, one startup at a time."
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