LuminaX Healthtech Accelerator accepts record cohort of founders for 2024

LuminaX Healthtech Accelerator accepts record cohort of founders for 2024

(L-R) LX Health program manager Georgia Wyllie and LX Health director Dren Xerxa

The Gold Coast’s LuminaX HealthTech Accelerator has accepted 11 startups to its 2024 program with 24 founders set to participate, making it the largest cohort for Australia’s leading early-stage health accelerator program since it was launched in 2020.

Hosted by LX Health, the accelerator has attracted participants from across Australia to offer the founders an opportunity to potentially secure investment and learn from some of the industry’s top business minds.

LX Health notes that this year the number of LuminaX mentors has increased by 30 per cent since last year, which brings to the program new areas of expertise in global expansion, G2M, software development, investment and data analysis.

Backed by the Queensland Venture Capital Development Fund (VCDF) program, participants will have a unique opportunity to connect with some of the largest VC funds and investors in Australia.

Throughout the 14-week program, founders will be provided with coaching, mentorship, founder-led workshops and the partnership opportunities they need to succeed.

LX Health director Dren Xerxa says the breadth of startups keen to participate in LuminaX  this year highlights the significant growth of Australia’s healthtech and medtech sectors.

“The program has gone from strength to strength,” says Xerxa.

“Year on year, seeing the number of quality submissions from around Australia and the keen interest from industry experts to be involved in the program really highlights the quality program that LX has to offer.”

LX has “turbocharged” 31 Australian healthtech startups though support, resources and guidance to commercialise and scale, funnelling $5.3 million in direct funding through its VC partners and mentors while connecting them with more than 200 clinicians, executives and experts.

Among this year’s cohort is Dr Bee Lim, founder of BeTuned, who says she is keen to get started on the next stage of her entrepreneurial journey.

"Being accepted into the LuminaX Accelerator is a significant milestone for us at BeTuned,” says Lim.

“We’re particularly excited about engaging weekly with mentors and coaches in residence, immersing ourselves in clinical research, and navigating the complexities of regulation and commercialisation with expert support.

“This wonderful opportunity not only aligns with our mission to enhance mental health inclusivity through technology but also propels us closer to our vision of creating accessible, effective, and scalable mental health solutions."

The LuminaX program is supported by Economic Development Queensland, the City of Gold Coast and QIC, alongside industry partners Griffith University, Mater Hospital, QLD AI Hub, and IntelliHQ.

The 11 startups selected for the 2024 LuminaX HealthTech Accelerator comprise:

3P Healthcare: a low-cost, non-invasive platform that markedly improves cardiovascular risk assessment by focusing on root-cause issues, not just symptoms.

BeTuned: an app that revolutionises mental health care by blending evidence-based psychological therapies with immersive game mechanics, creating accessible and engaging therapeutic experiences.

BioSpine: a Griffith University-led research project providing a digitally-enabled rehabilitation technology aimed at restoring movement and sensation in individuals with a spinal cord injury.

Dala Health: a platform designed to foster wellbeing, featuring a personal wellbeing coach in everyone’s pocket.

Umami: a nutrition planning and client management platform for health professionals.

IPCIUM: a program that enables participants to adopt positive health behaviours and live longer, healthier, and more productive lives through a unique service offering.

Neo eX: a platform that delivers a common interface for the integration, gamification, and analytics of consumer wearables.

Bloody Good Tests: improves preventative healthcare by providing an innovative, convenient, and trusted blood testing service platform.

STAT: creating a new healthcare funding source by harnessing the billion-dollar medical advertising market with purpose and technology.

Harmonic: a team culture tool to access dynamic insights on workstyles, psychological safety, work meaningfulness, and employee wellbeing.

Chatstat: an AI platform that proactively safeguards youth mental health through active monitoring and analysis of their public social media content.

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