The CUREator+ Dementia and Cognitive Decline incubator program, a partnership between Brandon BioCatalyst, ANDHealth and Dementia Australia, has opened its first funding round.
Companies developing innovative health technologies for people affected by dementia and cognitive decline are set to receive up to $5 million per project in non-dilutive project funding.
Funded by the Federal Government's $20 billion Medical Research Future Fund (MRFF), the program aims to support the development of novel approaches, spanning therapeutics, diagnostics, assistive and medical devices and digital health technologies, that will prolong or improve the lives of the estimated 421,000 Australians currently living with Dementia and the 1.6 million caregivers who support them.
Dr Kaele Stokes, the executive director for services, advocacy and research at Dementia Australia, said, "We welcome the innovative and important work of researchers and companies who aim to achieve outstanding results in the field. This funding will contribute to the ongoing support and quality of life for people living with dementia and those involved in their care. We are delighted that people with a living experience of dementia will be assisting and advising on this significant project."
The program delivers funding in tranches tied to mutually agreed-upon milestones and will leverage Australia's globally recognised life sciences research and health technology strengths to enhance the commercialisation and translation of innovations that improve health and wellbeing.
By aligning funding incentives and progress, CUREator+ aims to cultivate a thriving local ecosystem of innovation and entrepreneurship dedicated to tackling the escalating global issue of Dementia and Cognitive Decline.
Dr Chris Nave, Brandon BioCatalyst co-founder and CEO, said, "Australia is home to some of the world's leading neuroscience researchers, and the CUREator+ Dementia and Cognitive Decline program is tailored to expedite the advancement of their groundbreaking research, nurturing its creation and accelerating its journey into the hands of those who need it most."
Bronwyn Le Grice, CEO and Managing Director of ANDHealth, added, "Significant advances in technology offer us new ways to diagnose, treat and support those living with dementia and cognitive decline. From the development and application of artificial intelligence based solutions, to digitally-enabled, transformative models of care, this program will provide critical support to a new generation of connected health technologies, which offer immense potential to enhance both the quality and length of life for patients."
