Bristol-based Open Bionics – creators of customisable 3D-printed robotic prosthetics, and Electronic MAR – creators of an electronic platform for social healthcare workers records, shone at London’s MedTech Innovation Showcase this month.
The event came in the wake of huge growth in healthcare innovation in the South West and beyond and gave 16 UK-based entrepreneurs the chance to exhibit and pitch for significant investment to develop their innovative ideas and push them out to a wider market.
“The UK medtech market is a great place to invest right now”
The startups pitched to 100 angel, venture capital and corporate investors at the showcase which was led by Wessex AHSN and global leading university incubator SETsquared.
Lars Sundstrom, director of enterprise at West of England AHSN, says: “It was great to see so many innovators committed to developing the next generation of solutions and particularly those that we have seen grow from idea, to product, to company in such a short space of time.
“It just proves what a vibrant sector this is, and that the UK medtech market is a great place to invest right now.”
Healthcare angels
With these funds it is hoped that the startups involved can help to further develop potentially life-saving tech.
For example, one of the benefits of the Electronic MAR system in its ability to improve drug accuracy and patient safety by reducing medication errors, as well as increasing overall efficiency.
Open Bionics, meanwhile, is offering affordable 3D-printed bionic limb replacements to the thousands of people who are either born without or who have lost their hand – who otherwise could never afford a robotic prosthetic. The robotic hand technology is 3D printed and remains open source and accessible to all to personalise for their own needs.
As one of its first ever prosthetic beneficiaries Dan (pictured left) previously told us: “It fitted like a glove. I can’t believe how easy that was. Usually, I’d have to have a mold taken of my arm and then wait weeks or months to get the socket. Last time I had a socket mold on my arm they burnt me taking it off, so this is much nicer.”
With investors specifically looking for products and services that can save the NHS money while also offering a broad commercial appeal – with excellent prospects to make a financial return – investment for the Bristol startups looks promising.
Find out more about the MedTech Investor Showcase on the SETsquared website and more about the Bristol startups involved on the Open Bionics website and the Electronic MAR website. You can also follow them all on Twitter here: @SETsquared_Br, @OpenBionics and @GraphixAsset.
