Written by Dr Michael Challenor
Australian medtech has no shortage of strong ideas, ambitious founders and promising technologies. The harder challenge is helping those innovations navigate the long road from concept to commercialisation and ultimately into patient care.
In this episode of Empowering Medtech Founders, Innovate Medtech's Dr Michael Challenor sits down with Teneille Murray, Innovation & Growth Lead at the Medical Technology Association of Australia (MTAA), to discuss the realities facing medtech founders and the importance of building a stronger ecosystem around them.
Innovate Medtech is proud to be an Associate Member of MTAA, and this conversation highlights why that connection matters - not only for established businesses, but for the next generation of Australian medtech companies.
The discussion goes well beyond a standard industry overview. Teneille shares insights into the challenges founders face as they move beyond early-stage support, why so many companies struggle when the journey becomes more complex, and how MTAA and MedTech Compass are helping fill critical capability gaps.
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SUPPORTING THE NEXT GENERATION OF MEDTECH FOUNDERS
Teneille explains that MTAA represents a broad cross-section of the Australian medtech sector, from major multinational companies through to emerging innovators and ecosystem supporters. Through MedTech Compass, MTAA has built a dedicated pathway for pre-revenue companies progressing along their commercialisation journey.
A key theme in the conversation is that Australia already has exceptional research, intellectual property and innovation. The challenge has not been about lack of ideas, it is helping more of those ideas reach the market.
For founders, this means access to more than early encouragement. It means practical support, mentorship, advocacy, industry connections and a clearer understanding of how to navigate the path ahead.
MEDTECH IS NOT A STEP-BY-STEP CHECKLIST
One of the strongest points in the conversation is that medtech founders cannot afford to think only about the next immediate milestone.
Reflecting on the Innovate Medtech Masterclasses, Teneille described the program as effectively compressing a “10-year medtech cycle” into a single day, spanning R&D, intellectual property, regulatory strategy, reimbursement, investment and export markets.
The point was not that founders need to solve everything immediately. It was that they need to understand how the pieces fit together.
A company should not wait until after regulatory approval to begin thinking about reimbursement, or until clinical trials are underway to decide which markets matter most. Product design, evidence strategy, regulatory pathway, reimbursement and commercialisation all influence one another.
Founders who think too narrowly about the next milestone risk discovering later that they have created avoidable barriers for themselves.
THE SECOND VALLEY FOUNDERS FACE
There is often good support at the very early stages - research translation, incubators and accelerators. But once companies move into first-in-human work, seed funding or Series A preparation, expectations shift quickly.
At that point, founders are often assumed to be “ready”, even though the commercial, regulatory and strategic challenges are only becoming more complex.
That is where MedTech Compass plays an important role: building capability, supporting mentorship, connecting companies with industry, and helping founders bridge the gap between promising innovation and real market progress.
LEARNING FROM WHAT GOES WRONG
Michael and Teneille also reflect on the value of honest founder conversations, including the kinds of stories shared at Innovate Medtech's Off the Record event.
In medtech, failure is often not dramatic and immediate. Problems can build slowly over time. Warning signs may be visible months before a major issue becomes unavoidable.
Hearing those stories openly helps founders learn earlier, make difficult decisions sooner, and better understand the realities of building a medtech company.
That honesty is valuable. It reminds founders that the path is rarely smooth, and that learning from others' experiences can be just as important as hearing success stories.
KEEPING PATIENTS AT THE CENTRE
For all the discussion about strategy, funding and market access, the conversation repeatedly returns to one essential point: medtech is about people.
Behind every clinical trial, development decision and commercial milestone is a patient who may one day rely on that technology. That creates a different level of responsibility.
The best medtech founders are not only building companies, they are building technologies that must be safe, effective and worthy of trust. Keeping patients at the centre of decision-making is not optional; it is foundational.
ADVOCACY MATTERS
Another important theme is the role of advocacy.
Through initiatives such as MedTech on the Hill, MTAA brings members into direct conversations with policymakers and decision-makers in Canberra. Importantly, Teneille highlights that early-stage companies are increasingly being included in those conversations, ensuring that the voice of startups is represented alongside the priorities of larger industry players.
That matters because policy, reimbursement, regulation and procurement environments can shape the success of medtech innovation just as much as technical performance.
WOMEN'S HEALTH AND VISIBILITY IN MEDTECH
The conversation also touches on MTAA's work in women's health and the organisation's broader commitment to supporting women across the medtech sector.
Teneille makes the point that women's health should not be treated as a niche topic. It affects half the population and deserves to be taken seriously as a space for innovation, investment and clinical attention.
She also notes that meaningful progress in gender equity goes beyond representation targets. It requires creating real opportunities for women to lead, contribute and grow within the industry.
GET INVOLVED EARLY
Towards the end of the conversation, Teneille shares practical advice for founders who want to engage with MTAA and the wider medtech ecosystem.
Her message is simple: if you want a seat at the table, be at the table.
That means engaging early, building relationships, getting on the radar, and staying connected with the people who can support your journey. Founders do not need to wait until they are acquisition-ready or fully mature to begin those conversations.
Strong ideas, a clear pathway and ongoing engagement can go a long way.
PROUD TO BE PART OF THE MTAA COMMUNITY
For Innovate Medtech, this is exactly why industry participation matters. We are proud to be an Associate Member of MTAA and to be part of a broader medtech ecosystem working to support founders, strengthen commercial capability and help more Australian medical technologies reach patients.
HEAR THE FULL CONVERSATION
This article captures only part of Michael and Teneille's discussion. In the full episode, they explore the founder journey, the role of MedTech Compass, the importance of advocacy, and why building a stronger medtech ecosystem is essential for Australia's future.
Watch the full podcast on YouTube
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