A total of 11 Brisbane MedTech SMEs will join an exciting accelerator program run by the Brisbane Economic Development Agency (BEDA). The six-month MedTech Global Accelerator program will help its third cohort of SMEs attract global funding, preparing them to pitch to investors at J.P. Morgan Healthcare Week in San Francisco next January.
The 2024 cohort, pictured above, will undergo an intensive training syllabus and be mentored by leading industry experts. Among the cohort are a pioneering AI and data analytics company, a group of 3D bio-printed wound dressing innovators, and a business harnessing the potential of hookworms to develop life-changing drugs.
The city of Brisbane will deliver the program in partnership with the U.S.-based investment facilitator Life Science Nation. Lord Mayor Adrian Schrinner expressed his enthusiastic support of SMEs in the MedTech sector.
“Their success will not only benefit the lives of everyday people, but also contribute significantly to Brisbane’s economy by creating jobs and attracting investment and top-tier talent to our city.”
Brisbane leading global health innovation
Brisbane is already a global leader in healthcare technology. Its health sector is set to grow 36 per cent by 2031. Moreover, the city boasts the largest health ecosystem in the Southern Hemisphere, with an export growth rate of medical and pharmaceutical products almost seven times the national average.
“Our city’s investment in research and development is yielding impressive results, with homegrown businesses like Vaxxas and Microba, who are mentors for this accelerator program, leading the way in gaining international recognition and securing vital partnerships and investments,” said Schrinner.
Why Brisbane MedTech SMEs are thriving
According to Dr Chris Jeffrey, founder of Convergence Medical and Global Accelerator alumni, Brisbane boasts an unparalleled MedTech ecosystem.
“We’ve got great universities, we’ve got a lovely ecosystem that’s highly supportive with capital and growth opportunities, and we’re at a perfect point of connection around the world where we can grow a global footprint when we’re ready to launch,” Dr Jeffrey said.
“Convergence Medical is proud to be a Brisbane-based company and we see many advantages living here, working here and collaborating with the other organisations.”
Schrinner credits Brisbane’s strong start-up culture and excellent research and healthcare facilities for its success in health innovation. Both are a result of strong investment on the city of Brisbane’s part.
“We are proud to support these businesses as they continue to innovate and make a positive impact on healthcare worldwide,” Schrinner said.
