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23 April, 2018

Entrepreneurs in the medical device industry will be better equipped to build new businesses that create jobs and compete in overseas markets as a result of new funding from the Turnbull Government.

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.

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.

“The MedTech’s Got Talent program equips our scientists and researchers with the capability needed to transform ideas into viable businesses and access international markets faster than they otherwise would,” Minister Cash said.

Minister for Small and Family Business, the Workplace and Deregulation, Craig Laundy said the program provided many benefits for start-ups across the country.

“Programs like this level the playing field to allow start-ups to access the same resources as their multinational counterparts,” Minister 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 Turnbull Government is investing in science and innovation to ensure we grow new businesses and create jobs. The Incubator Support initiative is part of the continued implementation of the Government’s National Innovation and Science Agenda.

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