Australian Medical Angels: Pioneering Health Innovation Through Impactful Investments
The AMA team! Dr. Mian Bi & Dr Amandeep Hansra
Today, we spotlight Australian Medical Angels, a leading medical and health-specific angel investment syndicate dedicated to championing early-stage healthcare companies in Australia. Established in 2019, this syndicate is made up of an extensive network comprising over 1000 investors. Initially accepting only clinicians, Australian Medical Angels has recently expanded to welcome all wholesale investors interested in investing in healthcare.
Founding Inspiration and Target Areas
The founding of Australian Medical Angels was inspired by a recognised gap between two groups: medical professionals seeking impactful investment opportunities beyond traditional options, and health technology startups struggling to secure early-stage funding. This unique opportunity to connect these groups leverages the financial resources of one to fuel the innovative ideas of the other. The primary focus is on early-stage health technology companies across diverse areas, including telehealth platforms, obstetric monitoring solutions, healthcare talent marketplaces, and VR technology.
Strategic Goals and Milestones
In addition to continuing their syndicate structure, 2024 will see Australian Medical Angels launch several new initiatives to continue their growth in the healthcare innovation ecosystem. They are launching two new funds to focus on different stages of investments. The first will be an evergreen fund called the Medical Angels Rolling Fund, which focuses on pre-seed and seed-stage startups. The team will also start working on setting up a larger fund under the Early-Stage Venture Capital Limited Partnership structure. These funds will provide investors with the opportunity to easily invest in a wider range of early-stage healthcare startups vetted from the hundreds assessed, enabling the expansion of support for the best and the brightest shaping healthcare in Australia and beyond.
They have also recently launched their newest project: CICA Lab - Clinician Incubator Clinician Accelerator. The first offering, commencing in June, is the Clinician Incubator Program, a 12-week hybrid program for clinicians diving into a career in healthcare innovation.
Selection Criteria and Sector Focus
Australian Medical Angels focuses on health and MedTech startups, currently avoiding investments in pharmaceuticals or high-risk medical devices. Their portfolio companies strive to solve unmet problems, have clear business models within complex systems, and target sustainable growth early on. The strength of the team behind the project is also crucial, with a preference for individuals with proven track records and deep understanding of the healthcare landscape.
Overcoming Challenges
Health sector initiatives, especially startups, face numerous challenges, including securing early-stage funding, navigating the complex regulatory environment, and gaining traction within the healthcare system. Australian Medical Angels supports startups by offering access to smart capital, invaluable guidance, and mentorship from their network of medical professionals. They facilitate connections with key stakeholders and offer advice on navigating the regulatory landscape.
Future and Focus Areas
Looking toward the future, Australian Medical Angels is dedicated to expanding its impact and exploring new avenues to support healthcare innovation. They are particularly interested in digital health, rural and remote health, healthcare equity and access, and operational workflow efficiency. Their newest initiative, CICA Lab, aims to empower clinicians as drivers of innovation.
Australian Medical Angels plans to grow their syndicate by investing in the top six startups accepted into the Health 10x Accelerator program this year. They are also planning to launch a rolling fund to provide continuous support for early-stage health technology companies.
Interview with Dr. Mian Bi
We had the pleasure of speaking with Dr. Mian Bi, Lead Investor at Australian Medical Angels and a UNSW Faculty of Medicine & Health Alum. Dr. Bi shared valuable insights on several topics, including advice for 10x Accelerator applicants, highlights from his investing career, and how to join Medical Angels.
Advice for 10x Accelerator Applicants
"For startups aiming to join the 10x Accelerator, refining your value proposition is crucial. Clearly articulate the problem you address, your unique solution, and the value you bring to the market. Showcase any existing traction and outline a clear growth strategy with scalability potential. Building a strong team with diverse skills and expertise is essential. Engage with the 10x Accelerator community, embrace feedback, and leverage the program's resources to accelerate your progress."
Investing Career Highlight
"Hearing clinicians talk about one of our portfolio startups in random conversations and realising that we have supported these companies to a stage that they can impact the healthcare system."
Australian Medical Angels Members
“At Medical Angels, we examine and invest in early-stage startups in healthcare, medical technology, digital health, medical devices, and selected life science companies. Our focus is on picking the companies that will drive the future of healthcare, and we examine startups through a lens of valuable medical experience to ensure that those selected align with the medical profession.
On joining Medical Angels, members will be able to view and choose to participate in a curated selection of deals. Our investors will have the opportunity to get involved in the growth of our portfolio companies and follow their journeys closely.
We syndicate our deals on the GXE platform, where you can view available deals and track all relevant documentation. You will be required to have sophisticated investor certification from your accountant (flick us an email if you need more information about what this means and how it is done). Simply follow the instructions below to sign up with Medical Angels and register with GXE.”
Two categories of investors:
Clinician Investors (AHPRA-registered medical and dental practitioners)
All Other Investors
To Join:
Complete the sign-up form here.
Register to join our Medical Angels public deal space on the GXE platform
On completing steps 1 and 2, you will receive an email from Australian Medical Angels with further information.
If you have any questions, please reach out at hello@medangels.com.au.