AusBiotech, the premier life science organisation in Australia, has been selected as an Industry Partner Organisation (IPO) for the Australian Government’s Industry Growth Program (IGP).
The organisation said in a news release that this role will see AusBiotech providing crucial support to startups and small to medium enterprises (SMEs) in the biotech and medtech sectors.
The Industry Growth Program aims to facilitate the commercialisation and growth of innovative Australian businesses by offering tailored advisory services.
AusBiotech will leverage its extensive industry knowledge and networks to offer mentoring and connections for SMEs navigating the research translation and commercialisation phases.
Rebekah Cassidy, CEO of AusBiotech, expressed enthusiasm about the role, stating, “AusBiotech is a connected network of over 3,000 members representing the whole Australia’s life sciences value chain from spin-outs and SMEs, through to research institutes to large international companies.”
She added, “As the leading voice of Australia’s biotech industry representing the interests of Australia’s innovative life sciences community, supporting SMEs to grow along their commercialisation journey has been at the heart of our work for almost 40 years.”
Cassidy further highlighted the benefits of the partnership: “Now, as an Industry Partner Organisation with the Industry Growth Program, we are perfectly positioned to collaborate, and leverage our vast network and deep industry connection, for the benefit of Program participants.”
The Industry Growth Program, introduced in the 2023-2024 Federal Budget, is designed to assist startups and SMEs engaged in innovative projects aligned with the Australian Government’s National Reconstruction Fund (NRF) priorities.
The program aims to turn world-class Australian research into viable businesses, boosting the pipeline of investment-ready projects for the $15 billion NRF.
AusBiotech’s role will complement the work of the IGP’s advisers by providing specialised support to startups and high-growth SMEs, enhancing their potential for success.
