Australia’s national science agency CSIRO has launched a 10-week free program to support small and medium enterprises (SMEs) in the growing health and medical technologies sector to develop new goods and services.
Dubbed “Innovate to Grow,” the program is currently accepting applications from SMEs to better identify and understand their research and development (R&D) prospects, as well as build practical business strategies to drive their innovative concept.
According to Dr Susie Nilsson, Biomedical Manufacturing Research director at CSIRO, the health and medical technology sectors are critical to the growth of Australia’s economy because of the aging population, disruptive technologies, and COVID-19 driving local manufacturing skills.
“Australia is home to more than 1,000 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,” Dr Nilsson said.
Nilsson added that supporting these enterprises as they seek innovative therapies and technology benefits not just Australia’s economy but also helps individuals live better and more productive lives.
Meanwhile, Michelle Armistead, CSIRO’s Innovate to Grow coordinator, said the program offers vital links to industry experts and is an excellent chance for firms wishing to transform a concept into a feasible research and development opportunity.
“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.
She noted that upon program completion, eligible participants may 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.
The Innovate to Grow: Health and Medtech program is open to SMEs working in a variety of sub-sectors, including health and nutrition, digital health, botanical pharmaceuticals, biosensors, drug discovery and vaccines.
Applications close on 12 June.
