Monday, 27 May 2024

Australia invests $50 M into BioMedTech Incubator programme

23 March 2023 | News

Federal investment creates a combined funding capability of $115 million across programmes managed by Brandon BioCatalyst & ANDHealth

Image credit: shutterstock

Image credit: shutterstock

Brandon BioCatalyst, in partnership with ANDHealth, has been selected by the Federal Government to deliver the $50 million BioMedTech Incubator (BMTI) programme. The investment, from the $20 billion Medical Research Future fund (MRFF) in Australia, substantially increases the grant funding available through existing Brandon BioCatalyst and ANDHealth programmes to more than $115 million.

The BMTI programme will leverage the highly specialised selection, assessment and growth capabilities which have been built through CUREator, the Brandon BioCatalyst managed national biotech incubator, and ANDHealth+, the ANDHealth managed national digital health accelerator.

The new BMTI programme, which commences later this year, will accelerate the commercialisation of promising Australian biomedical and digital health discoveries, resulting in new jobs, attraction of private capital and ultimately positive impact for patients.

Under BMTI, companies will be able to access up to $5 million in non-dilutive funding over a 5-year period to support the translation and commercial development of their biomedical and digital health technologies. In addition to funding, the BMTI grant aims to provide hands-on support to progress Australian innovations to the point where they are commercially attractive to investors or partners. 

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