Consideration will be given to:
- Extent to which the product delivers value through improved diagnosis, prevention, treatment, mitigation and/or management of chronic and acute conditions for the benefit of the patient.
Demonstrated understanding of the end user(s) and how they will interact with the product, including:
- Description of how the solution fits within clinical workflows and/or typical patient journeys.
- Differentiation between the user(s), payers and beneficiaries
- Evidence of Voice of User.
Uniqueness:
- Clear articulation of the specific problem being addressed, including key pain points and current limitations of existing solutions; comprehensive understanding of the status quo approaches currently used to manage these challenges.
- Demonstrated analysis of the competitive environment including direct competitors, indirect competitors present barriers to adoption, and emerging competitors or market forces.
- Articulation of what makes the technology truly unique and new, clear explanation of how the innovation works, and evidence of genuine technological, methodological, or application advancement compared to competition.
- Demonstration of superior outcomes for users who directly experience the problem and interact with the solution; customers who may not be direct users but must pay for the technology; clear differentiation between users, payers, and beneficiaries.
- Sustainable Competitive Advantage, specifically explanation of real and defensible competitive advantages; specific barriers that prevent competitors from easily replicating or superseding the technology; evidence of sustainable market positioning and protection mechanisms.
Maturity of the technology, including:
- Technical: evidence of proof of principle/concept use in the clinical or market setting is detailed; where applicable, access rights to key data required for operation are outlined (e.g. AI/ML training data).
- Strategy for patient data privacy and security.
- Clinical: level of product evidence including clinical trials and technical certification.
- Regulatory: consideration of regulatory strategy including identification of TGA regulatory classification.
- Traction: use of the product in a clinical or market setting.
- Scalability: consideration of barriers to scalability, such as required integrations, and extent of stakeholder identification and engagement.
Market and business case, including:
- Feasible business model.
- Articulation of value proposition to identified payers.
- Evidence of market appetite, including Voice of Paying Customer evidence.
- Size of market and pathway to market.
- Intellectual property strategy and position.
- Barriers to market entry.
Team, including:
- Demonstrated commercial acumen and business development capabilities; experience in healthcare market navigation and stakeholder engagement; strategic planning and execution abilities relevant to digital and connected health commercialisation.
- Technical expertise appropriate to the innovation with core technology development and engineering capabilities; technical knowledge and regulatory understanding; quality assurance and product development methodologies suitable for healthcare applications.
- Track record and market uptake capability with history of bringing healthcare technologies or products to market; evidence of successful stakeholder engagement with healthcare providers, payers, or patients; demonstrated ability to scale operations and achieve sustainable growth in healthcare settings.
- Evidence of diversity within the Board of Directors and Management team and wider organisation; inclusive leadership practices and organisational culture development.
Program Impact, including:
- Extent to which the proposed projects will positively affect clinical and commercial readiness of the project.
- Extent to which the applicant is a good fit for the ANDHealth+ program.
Preference will be given to companies who can demonstrate significant understanding of the complexity of the challenges of commercialisation of digital and connected health products.
