Trajan Scientific and Medical has today launched an accelerator program, aiming to support medtech social enterprises and drive long term growth for startups in the sector. The new program will work off a collaborative model and target early stage enterprises that aim to impact human well-being through innovative and technological applications of science.
The Trajan accelerator model will focus on medtech companies which have technological or market capabilities that can push health-driven applications into society. Unlike other accelerator programs that choose startups based on subscriptions and short to mid-term exit strategies, Trajan will be seeking and identifying startups that are focused around long-term visions. Their criteria is based upon a startup’s sustainability and viability.
Elpis Barons, general manager of Trajan accelerator, said, “We’re looking at startups who have gone somewhere down beyond the proof of principle and have reached that point where they really can’t accelerate beyond this big chasm and the valley of death situations.”
Barons has international medical business experience, running Barons Medical Consulting, which assists international device manufacturers and medical technology organisations in Australia. With Trajan taking a collaborative approach to its accelerator program and has brought on Barons to open up the Trajan accelerator to further partnerships, industry knowledge, and contacts.
Trajan will take a minor equity stake in each startup and will provide both cash and in-current support from a range of mentors from its network of partnerships with the University of South Australia and University of Tasmania, Royal District Nursing Service, and Melbourne Centre for Nanofabrication, among others. These mentors include chief scientific officers and leaders in academia, science, and medicine.
Trajan is the sole commercial partner between the University of Tasmania and University of South Australia in a program called Astech. Barons explained that through Trajan’s collaboration with academia the hemaPEN, the world’s first blood collection and storage pen was created, proving how important it is to work with industry and universities to help assist the personalisation of medicine, from the laboratory through to the actual patient.
In terms of non-cash support, Trajan will provide each startup with a wide range of infrastructure and support not only in Australia but around the world: Trajan has a global footprint with 340 staff in Europe, Asia and the Americas. As part of the program, Barons said Trajan is not tied down to just Australian startups, and is in the current stages of finalising investment with a European business.
Barons believes the Trajan accelerator is an alternative route to traditional VC investment, and as such is not after founders who seek fast exit routes.
“We treat the companies as a seamless part of the Trajan group and importantly the startup retains its identity,” said Barons. “We want to build sustainable, revenue raising entities that can continue to grow, build sustainable businesses and have a positive impact on human well-being.”
Recently accelerators involving health, medicine and technology have been on the rise, with disability-focused accelerator Remarkable launching last week and One10 announcing Health Delivered as the first participant in its social enterprise program.
Considering Trajan’s vast network of support the accelerator program is not limited to technologies or service providers and looks at startups focused on analytical approaches right through to traditional medical devices.
Barons explained, “Through financial and in-kind support to facilitate growth, the Accelerator Company becomes part of the Trajan Group, while retaining a majority share and its identify. This enables the Accelerator Company to focus on their passion, while Trajan facilitates growth and whole business support through marketing, compliance, HR and global supply chain expertise.”
Image: Elpis Barons andStephen Tomisich. Source: Supplied