AusBiotech, Australia's leading life science organisation, has been announced as an Industry Partner Organisation (IPO) under the Australian Government's Industry Growth Program (IGP).
AusBiotech welcomed its selection as an Industry Partner Organisation to provide support for startups and small to medium enterprises (SMEs).
The program will see AusBiotech deliver a commercialisation advisory support service for Australian biotech and medtech companies that are part of the Industry Growth Program. AusBiotech will leverage its deep industry expertise and networks to support mentoring and connection for small to medium sized enterprises (SMEs) moving through research translation and commercialisation.
Comments from AusBiotech CEO, Rebekah Cassidy
"AusBiotech is a connected network of over 3,000 members representing the whole Australia's life sciences value chain from spin-outs and SMEs, through to research institutes to large international companies. As the leading voice of Australia's biotech industry representing the interests of Australia's innovative life sciences community, supporting SMEs to grow along their commercialisation journey has been at the heart of our work for almost 40 years."
"Now, as an Industry Partner Organisation with the Industry Growth Program, we are perfectly positioned to collaborate, and leverage our vast network and deep industry connection, for the benefit of Program participants.
"By engaging and collaborating across the sector we will support mentoring, capability building, international connection, and access to capital opportunities for participants.
"Almost 80 percent of Australia's life sciences companies are SMEs with the majority pre-revenue and in the process of commercialisation or translation of research, which is why programs such as this are so important. We're grateful to the Government for their ongoing support of our industry and are looking forward to working closely with the Industry Growth Program and other Industry Partner Organisations to support participant success"
About the Industry Growth Program
Announced during the 2023-2024 Federal Budget, the Industry Growth Program provides an Advisory Service for startups and SMEs undertaking innovative commercialisation and/or growth projects that are within the priority areas of the Australian Government's National Reconstruction Fund (NRF) and help build Australia's manufacturing capability for the future.
The IGP grants aim to translate more world-leading Australian know-how into viable businesses, growing the pipeline of investment-ready projects for the $15 billion NRF to consider. The Industry Partner Organisations will provide specialised advisory services to start-ups and high-growth SMEs who are participating in the programme, complementing the work of the IGP's advisers.
