Medtronic Australasia this week launched Medtronic Eureka, a web-based portal for medical technology innovation designed to help physicians and medical technology inventors bring their innovative ideas to life.
The Medtronic Eureka portal hosted on Medtronic Australia and New Zealand’s (ANZ’s) website is designed to provide a streamlined, single entry point for idea submissions, to enable strong partnerships between Medtronic and inventors in ANZ to bring novel product concepts to market and improve patients’ lives globally. It responds to the need of physicians for a clear, simple process to have the potential of their ideas evaluated by professionals.
“Through Eureka, Medtronic seeks to increase innovation in medical technology and ensure that patients can benefit from life-saving technology. We look forward to building the future of medical technology in collaboration with local inventors by enabling novel product concepts to enhance healthcare as a whole,” said Tim Fortin, Vice President and Managing Director, Medtronic Australasia.
Over the years, innovators have fuelled many breakthrough inventions. By submitting a new idea via Medtronic Eureka, inventors are assured a fair evaluation by a team of trained, global experts. Inventors are informed of Medtronic’s initial decision regarding their idea within approximately 90 days of submission. If evaluation doesn’t reveal a fit for Medtronic, inventors can consent to allow the same idea to be evaluated by an industry independent medical device incubator – the MedTech Actuator, based in Australia or MD Start, based in Switzerland. This two-step approach is designed to ensure the best chance for the invention to be supported.
Medtronic, together with our incubator partners, is committed to supporting local medtech innovation. “Australia is amongst the global best in terms of research capability and capacity. We are energised to continue to help Australian innovators develop impactful medtech solutions for the global platform,” says Dr Buzz Palmer, CEO of the MedTech Actuator.
“We are confident that an approach focused on ANZ, which protects inventors and enhances opportunities to collaborate on innovation development, will yield excellent results and push medical technology forward,” said Mr Fortin.