AusBiotech, Australia's peak life sciences body, has officially launched its activation program as an Industry Partner Organisation under the Australian Government's Industry Growth Program. Through this initiative, AusBiotech will deliver a range of activations designed to accelerate commercialisation and support the growth of chosen Industry Growth Program participants.
The Industry Growth Program was created by the Australian Government to support innovative SMEs and startups undertaking commercialisation or growth projects that will build Australian capabilities in priority areas — including life sciences.
Today, at the Translational Research Institute in Brisbane, AusBiotech welcomed 28 biotechnology and medical technology — SMEs and startups — from across Australia to its first national cohort. This group of companies will now be provided with AusBiotech-led, targeted activation, to help them learn and grow along their company's innovation and commercialisation journey.
As part of its activation program AusBiotech will deliver a commercialisation advisory support service, leveraging our 3,000-strong industry network and almost 40 years of expertise to help translate and advance breakthrough research into globally competitive companies.
Comments from AusBiotech CEO, Rebekah Cassidy:
"The Industry Growth Program is an important pillar of the Australian Government's support for our country's growing and energetic life sciences start up ecosystem."
"As an Industry Partner Organisation, AusBiotech's activation program is focused on developing capabilities across the commercial pipeline, growing international partnerships and enabling opportunities for access to capital to these startups. It's one of the many ways we're supporting the growth of home-grown health innovation to support the long-term health of Australians and the wealth of our nation.
"AusBiotech's member community comprises more than 3,000 health, medical and scientific professionals across our life sciences ecosystem. We are proud to support this cohort of 28 participants from across the country with our nearly 40 years of deep industry knowledge and a shared commitment to translating Aussie innovation into global success stories."
Comments from AusBiotech Industry Growth Program Manager, Tamlyn O'Connor:
"The Industry Growth Program empowers Australian innovation with real-world tools, connections, and commercialisation know-how. AusBiotech is proud to support these companies through every step of their journey from the bench to bedside."
About the Industry Growth Program
The Australian Government's 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.
Industry Growth Program 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. Industry Partner Organisations 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.
