The Victorian government has backed a new medical technology hub for skills and device development in a bid to cement Victoria’s position as a global leader in the industry.
Minister for Industry and Innovation Ben Carroll today led the launch of the Victorian Medtech Skills and Device Hub, which received $5.75 million in funding from the Victorian Labor Government.
The Australian-first facility will host collaborations with local businesses, universities, and education providers to create life-saving medical technology and train local workers for innovative careers in the sector.
The hub will offer more than 1,000 industry training places and is expected to generate up to a dozen startups that are ready for investment every year.
Located at the Aikenhead Centre for Medical Discovery at Melbourne’s St. Vincent’s Hospital, the new hub will be led by the University of Melbourne in collaboration with RMIT University, Swinburne University of Technology, and the Aikenhead Centre.
It will also support the growth of local companies, such as Neo-Bionica and Synchron, expanding onshore manufacturing of their medtech products and helping them become significant players in the multibillion-dollar global market.
“Neo-Bionica recognises the need for training initiatives that develop an industry-ready workforce, so we’re delighted to support the launch of the Victorian Medtech Skills and Device Hub,” said Neo-Bionica CEO Ludovic Labat.
The Medtech industry is one of the fastest-growing sectors in Victoria, with over 650 medtech-related companies employing approximately 6,000 people and generating $1.4 billion in value.
In its Budget for 2023/2, the Victorian government has allocated $12.3 million for the delivery of major sovereign mRNA manufacturing facilities, along with a $15 million boost to incentivise local businesses pursuing R&D.
“Victoria’s medtech sector is a significant player in a booming global market – this Australian-first hub will boost local production, attract investment to Victoria and train the innovative staff the sector needs for its strong future,” Minister Carroll said.
