The funding comes from MTPConnect’s Targeted Translation Research Accelerator (TTRA) Drugs and Devices program, an initiative of the Medical Research Future Fund.
The announcement was made in parallel at the BIO International Convention in Boston, one of the world’s biggest biotech events bringing together sector leaders from Australia and around the world.
MTPConnect CEO Stuart Dignam said this funding injection is critical to backing Australian innovations to tackle these significant chronic health problems and scale in our backyard rather than offshore.
“Access to funding remains the biggest challenge for start-ups and innovators. The capital markets, especially when you’re at an early stage with your innovation, are particularly tough – and now they have heightened global business uncertainty and tariff turmoil to contend with,” Mr Dignam said.
“Following an open and rigorous assessment process, we’re backing established SMEs, start-ups and spin-outs in New South Wales, South Australia, Tasmania, Victoria and Western Australia.
“These 14 new projects have attracted more than $17 million in additional contributions from the awarded companies and their partners.
“MTPConnect’s investment, combined with the matching industry contributions, represents a near $30 million downpayment on the future of Australia’s brilliant life science innovators.
“We’re particularly pleased that 50 per cent of the funded SMEs are organisations led by women which is well above the representation of women in senior management (26%) or CEO roles (10%) within STEM industries in Australia, according to Stem Equity Monitor 2024.
“In addition to vital funding, these 14 companies will receive ongoing acceleration support through mentoring and access to specialist advice from MTPConnect, and guidance from our industry impact partners, CSL and Roche Diagnostics so they can tap into the best of global industry expertise.
“MTPConnect’s tried and tested accelerator model has shown that pairing non-dilutive funding with access to industry knowledge, mentoring, market expertise and commercialisation skills is a powerful multiplier for start-ups and SMEs that truly boosts their chances of success.”
“We’ll be working with these companies over the next few years and making additional funding available on a competitive basis for those hitting their commercialisation milestones.
“We want to see these homegrown innovations scale in Australia first rather than offshore and drive sovereign success which will power local job creation and improve health outcomes for Australians and others around the world,” Mr Dignam said.
A summary of companies awarded funding are listed below:
TTRA Drugs Investment Outcomes
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