$2.4 million announced for new healthtech commercialisation centre in Melbourne

The state government has announced $2.4 million in funding to establish the Victorian Connected Health Innovation and Commercialisation Centre. 

The centre in Melbourne’s CBD will be delivered by ANDHealth, a health technology-focussed deliverer of accelerator, incubator and commercialisation programs. It will be funded through the Victorian government’s Australian Medtech Manufacturing Centre and Biotechnology Fund.

According to a statement on Wednesday morning, the new centre will assist as many as 500 companies a year by connecting them with healthcare professionals, innovators and investors.

“Our medical researchers and innovators are leaders in their field, regularly bringing world-first medtech products and devices to market that will change the lives of Victorians and people around the world,” said innovation minister Jaala Pulford.

The statement highlighted the economic impact of medtech on the Victorian economy, with an annual contribution of $21.4 billion in revenues.

“This new Centre will strengthen Victoria’s nation-leading advanced manufacturing capabilities and our status as a growing hub for medtech production,” added industry support minister Ben Carroll.

Image credit: business.gov.au