StartupSmart.<\/em><\/p>\n\u201cI love the accelerators and the digital health initiatives.\u201d<\/p>\n
All 14 funded projects have a key focus on driving the development of medtech and pharmaceutical innovation through nationwide collaboration.<\/p>\n
\u201cWe want those startups to build those skills to get the investment they need [and] reach out and tap into the global value chain,\u201d she says.<\/p>\n
MacLeman says there is a vested interest now to see ideas brewing in research institutions and universities fully commercialised for high-impact and social benefit.<\/p>\n
MTP Connect received nearly 40 applications for funding and up to $90 million in support was offered by industry partners before the final 14 were selected.<\/p>\n
\u201cThat tells me they understand the need for this and it was a real call for action,\u201d she says.<\/p>\n
While the funding scheme runs for two years, MacLeman says the outcomes will last well into the future.<\/p>\n
\u201cThe MTP sector has a fantastic opportunity for growth, but is currently hindered by constraints, including a lack of collaboration between business and research, skills shortages, the need for more focused funding and investment, and the need for more streamlined and harmonised regulatory and market access frameworks,\u201d she says.<\/p>\n
\u201cThere also needs to be a focus on globally competitive incentives and long-term policy vision and stability.\u201d<\/p>\n
The investment from MTP Connect comes as Victorian premier Daniel Andrews revealed the state government will put $4 million into a new world-class Medicines Manufacturing Innovation Centre (MMIC) led by Monash University.<\/p>\n
The MMIC will encourage real-world application of innovative ideas by connecting students with the business sector.<\/p>\n
Associate professor Michelle McIntosh, who will head the MMIC’s operations, says pharmaceutical innovation presents a unique economic and social opportunity for the state.<\/p>\n
More than 50% of ASX-listed life science companies are located in Victoria where everything from oncology medicines to vaccines are made.<\/p>\n
\u201cVictoria is home to 22 manufacturers who between them employ many thousands of workers directly, and create many times more jobs in the allied support areas,\u201d says McIntosh<\/p>\n
Follow StartupSmart on<\/em> Facebook,<\/em> Twitter, LinkedIn and iTunes.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Growing investment in medical technology and pharmaceutical innovation is set to fire a new pipeline of high-impact ventures into Australia<\/p>\n","protected":false},"author":1,"featured_media":58321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,9,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47844"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47844"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58321"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}