In this episode, Dr Bi Mian discusses his work with the Australian Medical Angels, a medical syndicate that focuses on investing in HealthTech startups in Australia. Mian, who is a medical doctor and runs a multi-specialist medical centre in regional New South Wales, founded the group with his co-founder Dr Amandeep Hansra. The group, which has 600 members, is unique in that it consists of verified clinicians across the medical and dental fields.
Mian explains that the syndicate allows doctors to invest in startups without having to put up large amounts of money individually. Through the syndicate, doctors can invest as little as $5,000 and still be part of a larger investment in a company. This allows doctors to have a say in the direction of the healthcare industry and invest in products and services that they will be using in their own practices.
The Australian Medical Angels have invested in a number of startups, including a telehealth platform, a mental health app, and a company that uses artificial intelligence to analyse medical images. Mian believes that the key to successful investing in the healthcare industry is to focus on solving real problems that clinicians face on a daily basis. He also emphasises the importance of being passionate about the work and having a deep understanding of the industry.
Overall, Mian believes that the western Australian life sciences industry has a bright future, with a strong focus on biotechnology and medical technology. He encourages aspiring entrepreneurs in the field to take the time to learn about the industry and develop a deep understanding of the problems they are trying to solve. By doing so, they can create successful and innovative solutions that will make a real difference in the lives of patients.
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