Developing new medical devices and therapeutics is widely recognised as a formidable challenge – it is risky, expensive and commercial returns can take decades to be realised.
MTPConnect has continued its work across FY2024 supporting Australia’s life science innovators to meet the commercialisation challenge, providing funding through our accelerator programs, building sector capabilities and cementing collaborations between industry and research to help bring life-saving medical products from bench to bedside.
In nine years of operation, MTPConnect Is firmly established as Australia’s life sciences innovation accelerator.
With its focus on increasing collaboration and commercialisation, MTPConnect has been able to draw on multiple industry partners to secure matching industry contributions and substantial flow-on industry investment to amplify grant funding and help drive projects through the early stages of clinical development and maximise the chances for commercialisation success.
Across all programs, MTPConnect’s $152 million in strategic funding investments committed to supporting 199 projects has:
Across all its programs and initiatives, the overall economic impact of MTPConnect’s activities shows a total attributable return of ~$7.5 billion.
These outcomes demonstrate not only MTPConnect’s impact but the importance of targeted, strategic funding programs in supporting Australian life science start-ups and SMEs to grow, scale and prosper. MTPConnect’s work shows what can be achieved by backing start-ups, entrepreneurs and SMEs to bring new medical products from research labs to the market.