Wei Sue is a co-founder and CFO at Navi Medical Technologies, where she has taken a leading role in managing the financial modelling, reporting and governance within the company.
Wei has also taken a leading role in lifting the Navi brand by representing the company in high profile pitches and presenter events, where she has received a number of awards.
Wei also is passionate about tackling climate change with a long history of consulting work helping large organisations transition.
Q: Tell us about your journey to become a co-founder of Navi?
I was completing my MBA at Melbourne Business School when the BioDesign Innovation course was offered for the first time. I had completed a science degree majoring in biotechnology and environmental management but had spent most of my professional career in sustainability and climate change. So when this opportunity came up, I was instantly attracted to the opportunity to tap into my interest in biological sciences and combine that with my passion for technology innovations.
I was very fortunate to have met the co-founding team at Navi through BioDesign. What could’ve been a simple MBA elective subject turned into reality in the business world due to the passion and tenacity that the team shared. Above all else, it was a 9-month elective working as a team and we worked so well together that it gave us the confidence that we would be ready to take on challenges in the business world!
A fundamental principle of BioDesign was about creating multidisciplinary teams, which in the case of Navi included three MBA candidates, 2 biomedical engineers and a clinician. This has been critical to the successes we’ve had, particularly for a medtech startup in a complex and challenging environment.
We graduated from the classroom environment and our confidence was boosted through winning a number of pitch competitions. What really sealed the deal was winning our first $10k cheque – that was the impetus to incorporate the business – so we could cash in the cheque.
Q: Not being someone who has a medical background, tell us how you took a leading role in representing Navi (very successfully) in high profile events such as the MAP Gala?
Pictured: Wei receiving an award at a pitch event in Melbourne, Australia
I have never been one to put my hand up for public speaking – it’s always been one of the things that require effort on my part. Representing Navi, however, was easy. While I don’t have a medical background, the team has always been forthcoming and generous with their time and support. Both in helping me prepare for pitches and presentations, but also in patiently explaining the details behind the clinical and engineering aspects of the Neonav.
Another reason I love representing Navi is the belief and passion I share with my co-founding team – in the mission to improve the lives of children and babies through much needed medical innovations. I’ve always been passionate about technological developments and in particular putting technology to good use, to improve the lives of others.
Q: What are the things that keep you up at night?
Pictured: Wei (centre) taking part in a panel discussion at the Melbourne Business School
Raising our next round as we’re kicking off our Series A capital raise and my role as co-CFO. I have absolute confidence that our technology works so it’s just a matter of securing the capital needed to get the product through to regulatory approval.
Based in Australia, venture capital can be less comfortable with medtech investments. It is my hope that as part of the growing medtech startup scene in Melbourne and Australia, Navi will be able to find the right investors and bring them along this journey to become a globally competitive medical device company.
Q: What are you most excited for about the future of Navi
I am most excited by the pipeline of future products Navi could work on once we got the Neonav approved and in the market! Between Christiane, Mubin and Shing, the clinical and engineering dream team has a wealth of ideas for things that can be improved for newborns and children, particularly in the intensive care setting. One of my highlights in Navi are the brainstorming sessions we had together as a team and I would love to be doing that for our next product and the next!
Pictured: Wei receiving first prize at a StartUp Vic pitch competition