Medtech company Meloq last week won 30 000 SEK for Best internationalization plan in this year’s Go Global Medtech program organized by STING. A jury of experienced individuals from the medtech industry named Meloq the company with the most promising strategy to expand globally.
Meloqs product EasyAngle is a tool that facilitates measurement of joint movements, one of the most common examinations in physiotherapy today. By using modern technology and smart algorithms, EasyAngle replaces several tools used today and allows digital data management, and faster, more accurate and more comfortable examinations.
– The Go Global program has been extremely rewarding; the knowledge and the network that was opened up for us have already been of great benefit. We have just begun the internationalization and in the fall, EasyAngle sold to six countries in Northern Europe. The next step is to hire a business developer and to establish a presence in the major markets, with a focus on the UK and Germany, says Rui Chen, founder and CEO of Meloq.
Medtech companies from all over Sweden and also Europe participated in the eights edition of the Go Global Medtech program. The program consists of five interactive and intensive two-day sessions, which blends lectures by experienced international speakers with their own work and case studies from the field. The sessions are carried out at host companies that are active in the medtech field and have international operations.
The jury consisted of Soren Johansson, former VP of Business Development ELEKTA; Per Svedenhag, Director SciBase, and Johanna Wollert Melin, founder of Trice Imaging. The motivation read:
The company addresses an obvious problem of a well-defined target audience and offers a completely new approach that can simplify and streamline workflow for the customer. The team has chosen a practical distribution strategy initially but needs to define a broader strategy to obtain an expansion with better margins.
After the program, the participating companies have an elaborate internationalization strategy to present to the board, and good prospects for a successful internationalization.
– Go Global Medtech is an ideal program for companies that are about to start exporting their products. This year, it has had an even stronger international focus thanks to the cooperation with the EU program EIT Health, which has meant that three companies from other EU countries have participated and contributed in a very positive way in the sessions during the year, says Olof Berglund, coach at STING and leader of Go Global Medtech.
Other companies that participated in the Go Global Medtech were Single Technologies, Biocool, Respiheart, AddMovement, Lindacare and DigiMeda. Host companies during the program were: Cambio Healthcare, GE Healthcare, Roche Diagnostics and Thermo Fisher.