Australia’s national science agency, CSIRO, has launched a free program to support SMEs in the health and medical technologies sector to develop new products and services.
The 10-week Innovate to Grow program will provide participating SMEs with the knowledge and tools to better identify and understand their research and development (R&D) opportunities, plus develop actionable business plans to advance their innovative idea.
Dr Susie Nilsson, Biomedical Manufacturing Research Director at CSIRO, said that the health and medical technologies sectors play a pivotal role in growing Australia’s economy given the country’s ageing population, the rise of disruptive technologies and COVID-19 driving local manufacturing capabilities.
“Australia is home to more than 1000 companies working in the medtech and pharmaceutical sector alone, and many of these are small and medium enterprises who we know can sometimes struggle with the transition from R&D to a viable product,” Nilsson said. “Supporting these businesses as they pursue new treatments and technologies boosts not only our economy but most importantly helps people live healthier and more productive lives.”
Michelle Armistead, CSIRO’s Innovate to Grow Coordinator said the program is a great opportunity for businesses looking to turn an idea into a viable research and development opportunity and provides invaluable connections to industry experts.
“With assistance from experienced researchers and innovation experts, participants in the program will work with a mentor to examine their technical and business challenges, explore their research and development opportunities, learn tips for partnering with research organisations and develop strong funding applications,” Armistead said.
Upon completion of the program, participants will be able to access continued support through CSIRO, such as being connected to national research expertise or dollar-matched R&D funding to keep moving their ideas forward.
Innovate to Grow: Health and Medtech is open to SMEs working in the following sub-sectors: Health & Nutrition; Digital Health; Botanical pharmaceuticals and nutraceuticals; Diagnostics, Biosensors & Biomedical Devices; Biopharmaceuticals[ Drug Discovery; and Vaccines & Biologic Therapeutics
A limited number of slots are being offered for the program and applications are due to close on 12 June.
