An Australian medical manufacturer has been among a host of medical companies that have taken their place in a start-up acceleration program at the California Life Sciences Institute (CLSI).
Funded and coordinated by Trade and Investment Queensland (TIQ) and Life Sciences Queensland (LSQ), Field Orthopaedics has been selected to travel to San Fransisco to begin training at CLSI.
Field Orthopaedics manufactures medical devices, such as micro screw, power tools, micro anchor, and micro coating Tri Fix. The company was developed by orthopaedists to confront gaps in surgical practice. Travelling to the San Fransisco area will allow Field Orthopaedics and the other selected companies a chance to experience the most mature life-science cluster in the world, according to Queensland Premier, Annastacia Palszczuk.
“These five companies will receive coaching in market analysis, legal requirements, pitching to investors and finance, and gain access to their own in-market mentor network, accelerating their successful entry into the North American market,” she said.
“As well as being home to groundbreaking innovation in synthetic biology, therapeutics, diagnostics, medical devices and biotech, Silicon Valley’s technological know-how makes the region a leader in the convergence of biological and digital health technologies.”
The program hopes to expand the networks of the companies to develop export opportunities.
“I’m confident it will prove fertile ground for these Queensland innovators to progress their export and investment plans with North American partners,” said Palaszczuk.
The program is currently underway, with participants attending CLSI’s FAST program until October 18, with a return visit in January 2020, followed by attendance at the BIO International Convention in San Diego in June 2020. The ideal outcome is greater commercial success for the companies, as executive director of Innovation Services at CLSI, Steve Karp, said.
“Our FAST program provides entrepreneurs with coaching to perfect their business model and product-development plans and build a compelling commercialisation strategy.”
Other successful companies are De Motu Cordis, Ellume Health, Microba and Zucero Therapeutics.