Opportunity
Surgeons all over the world face the challenge of tediously hand-sewing micro arteries to re-establish blood flow to transplanted tissues.
Solution
Avasa’s arterial coupler makes microvascular surgery quicker and safer empowering surgeons to securely and efficiently link microvascular arteries in under 10 minutes.
New Zealand's deep tech ecosystem is gaining momentum, thanks in part to the critical mass that has developed through the Callaghan Innovation Deep Tech Incubator Programme.
One success story emerging from this initiative is Avasa, a medical device startup founded by Nandoun Abeysekera. Avasa's journey highlights the crucial role deep tech incubators like Bridgewest Ventures play in nurturing innovative companies and helping them access the resources needed to succeed.
Assisting in surgeries as part of his plastic surgery residency, Abeysekera became obsessed with a particular clinical problem. Reconstructive surgeries often involve transferring tissue from one part of the patient’s body to another. For the tissue to survive it needs to be reconnected to the arteries and veins in its new location.
A coupling technology for veins had long since been developed, but arteries still required surgeons to hand sew them, a process that took 30 - 60 minutes per artery. In 2018, Abeysekera left the clinical space to set up Avasa.
Since then, his small team has developed the AVASA Coupler – an implantable device designed to help microsurgeons connect microvascular arteries and veins safer, simpler, and 80% faster than the current standard of care. The University of Auckland’s commercial arm UniServices provided pre-seed funding for Avasa.
Abeysekera was introduced to Bridgewest Ventures by fellow medical device startup co-founder, Professor Greg O’Grady. Avasa joined Bridgewest’s deep tech incubator in 2022, taking advantage of the repayable grant from Callaghan Innovation.
The funding was crucial in proving key technological milestones and attracting further investment, says de Ridder, with the non-dilutive nature of the grant making it “particularly attractive for early-stage companies” says Kathryn de Ridder, Portfolio Investment Manager at Bridgewest Ventures.
Avasa has benefited from Callaghan Innovation's expert database and Career and Experience grants, allowing the company to access specialised knowledge and talent.
"Building a startup is really hard and you need to take all the help you can get" Abeysekera explains.
“Bridgewest's expertise in areas like strategy development, capital raising, and building a team has been invaluable.”
De Ridder says the Deep Tech Incubator Programme was a key factor in Bridgewest, a global venture firm, choosing to set up operations in New Zealand. This influx of international networks and experience is helping to elevate the entire ecosystem.
However, challenges remain. Both Abeysekera and de Ridder highlight the need for more specialised infrastructure, particularly in areas like medical device development. They also emphasise the need for patience in deep tech, where timelines for commercialisation are often longer than in other sectors.
Says Abeysekera: “It’s literally impossible to do this alone so surrounding yourself with the right support is really important."
I really think the tech incubator model meant that Bridgewest saw this emerging market as the one to set up shop in.
- Kathryn de Ridder Bridgewest Ventures
Building out a medical device company is tough, particularly in New Zealand. It’s riddled with all kinds of gotchas
- Nandoun Abeysekera Avasa
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