Australia’s largest medical device accelerator program, MedTech’s Got Talent, will receive a $500,000 grant through the Incubator Support initiative to build start-ups in the fields of medical devices, laboratory equipment, diagnostics, bionics and eHealth.
According to a joint media release by the minister for jobs and innovation, Michaelia Cash, and the minister for small and family business, workplace and deregulation, Craig Laundy, the new funding is intended to better equip entrepreneurs in the medical device industry to build new businesses and compete in overseas markets.
MedTech’s Got Talent provides entrepreneurs with mentoring, resources, knowledge and access to business networks to help them develop their ideas, generate investment and get their products to market.
Minister for jobs and innovation, Michaelia Cash said the Incubator Support initiative was encouraging incubators and accelerators like MedTech’s Got Talent to improve the prospects of Australian start-ups.
“The Turnbull Government is committed to assisting STEM professionals with access to commercial opportunities and global markets in order to create jobs here at home,” minister Cash said.
“Programs like this level the playing field to allow start-ups to access the same resources as their multinational counterparts,” minister for small and family business, workplace and deregulation, Craig Laundy said.
“The access to real talent, mentors, money, expertise and networks will put these start-ups in the best position for commercial success.”
The Incubator Support initiative is part of the continued implementation of the government’s National Innovation and Science Agenda.