The Australian National University has launched its first partner innovation company, Wearoptimo, which will research, develop and commercialise wearable medical devices under the leadership of Entrepreneurial Professor Mark Kendall.
Professor Kendall launched Wearoptimo in his inaugural address on Monday evening where he outlined the vision for the company.
"We're on the precipice of the Fourth Industrial Revolution - what I call the digital revolution on steroids," Professor Kendall said.
"Wearable medical devices are just one example of the wave of technological advances that's coming, along with all the social, ethical and legal challenges presented by these new inventions and techniques.
"Wearoptimo will bring together the scientific and technological expertise to build the devices, and also the legal and social expertise to allow these devices to become common use in society," Professor Kendall said.
Wearoptimo was established with seed funding from ANU, and will seek attract private and public investment to develop devices such as the one Professor Kendall is currently working on that can detect heart attack and stroke without any invasive tests.
This is the first partner innovation company established by ANU. Professor Kendall is the Chief Executive Officer was appointed Entrepreneurial Professor at ANU in January 2018.
ANU Vice-Chancellor Professor Brian Schmidt said Wearoptimo will deliver improved healthcare outcomes for all Australians, as well as become an innovative funding model to advance the commercialisation of research.
"As the national university, we have an obligation to lead the way in developing solutions to the nation's problems. To do so, we need to think outside the box for expanding our capabilities and partnering with business to realise the opportunities for our research solutions," Professor Schmidt said.
Wearoptimo is based in Brisbane, with an office in Canberra. Recruitment for research and development and business development positions has begun.