The BridgeTech Program, a successful medtech commercialisation training program delivered by QUT, will continue for the next two years thanks to a government funding initiative that supports high-quality Australian medical device projects with strong commercial potential.
Along with four preeminent industry partners, the BridgeTech Program was selected as the educational partner for MTPConnect's Clinical Translation and Commercialisation Medtech (CTCM) Program, to train Australian SMEs to commercialise medical device projects. As part of the agreement, the BridgeTech Program has also received funding to continue out of QUT for 2023 and 2024.
The CTCM program is an initiative of the Australian Government's Medical Research Future Fund (MRFF), designed to identify and nurture commercially-viable medtech projects being developed by Australian SMEs. The initiative offers $250,000 to $1.5 million to selected SMEs to accelerate their projects over two years, combined with support from educational and industry partner organisations.
MTPConnect's CEO, Stuart Dignam said: "The program is uniquely designed to leverage a national alliance of experts in the medtech sector. As an educational partner, the BridgeTech Program can offer CTCM awardees valuable learning opportunities that will strengthen and add value to their medtech projects as they head towards commercialisation," he said.
For BridgeTech Program Director, QUT's Distinguished Professor Lyn Griffiths, the good news is two-fold.
"We are delighted to be selected as the educational partner for the CTCM Program and confident that the knowledge and connections our program offers will help the awardees succeed," Professor Griffiths said.
"Through its sponsorship, the CTCM Program has also enabled the continuation of the BridgeTech Program for the next two years, which means up to 80 participants, including the CTCM awardees, can take part in face-to-face and online training in the commercialisation of new medtech.
"Participants have access to online learning materials delivered by QUT. They also have a unique opportunity to connect with representatives from a partner consortium of medtech industry leaders and university representatives, through a year-long event and seminar series," she said.
Industry leaders involved in the BridgeTech Program include Steven Kennedy, Vice President of Global Regulatory Affairs at Cochlear – the global medical device company that designs, manufactures, and supplies the Nucleus cochlear implant. Mr Kennedy has been a representative of the partner consortium since BridgeTech's inception, speaking regularly at events and contributing to the program's design from an industry perspective.
"Cochlear came out of research, had a lot of support from government funding, and was fortunate enough to make connections with commercially-viable companies to help it get started. Being an industry partner of the BridgeTech Program is an opportunity for Cochlear to give back to start-ups who were like us at one point," he said.
As well as Cochlear, industry partners include Deloitte, Bosch, Life Sciences Queensland, Magnetica, Siemens Healthineers, Spruson & Ferguson, Stryker, Vaxxas, and several leading Australian universities.
Along with the BridgeTech Program, the industry partners selected to support the recently announced round 1 CTCM funding awardees are:
- Medical Technology Association of Australia (MTAA)
- Cicada Innovations
- Medical Device Partnering Program (MDPP)
- Therapeutic Innovation Australia (TIA)
