22 December 2022
Our 2022 Annual Report, out today, pulls together our story of fostering research and development, cementing connections between research and industry, building our workforce for the future and deploying funding to drive translation and commercialisation to help bring life-saving medical products from the lab bench to the patient’s bedside.
As Australia’s Growth Centre for the MTP sector, MTPConnect forges stronger connections between research and industry and maximises opportunities for Australians to make scientific and technological breakthroughs that are successfully translated and commercialised.
Across our six strategic funding programs for DISR and the Medical Research Future Fund we have so far injected $141.2 million into Australia’s medical products sector, supporting 184 medical technology, biotechnology and pharmaceutical projects – with more funding to be deployed in coming years.
We’re also catalysing industry support to maximise the chances for commercialisation success, with our investments yielding $827 million in additional industry contributions and flow-on external investment.
Through our Researcher Exchange and Development within Industry (REDI) initiative, we are investing in training and skills programs to address key skills gaps in medical product development and commercialisation, with 20 partners and selected providers delivering a total of 46 programs with 380 events - providing 4,469 new training, mentoring and industry opportunities across Australia.
With funding allocated through our granting programs, the additional contributions provided by industry, the flow-on external investments and the money secured through grant reviews, MTPConnect has contributed to $1.3 billion flowing into Australia’s medical products sector.
It’s this critical mass of capital and productive collaboration between industry and research that will position Australia to commercialise the medical products coming out of the research in our universities and medical research institutes.
In recognition of our impact, the Government has approved an extended operation runway for MTPConnect. We have expanded our teams and with more funding to deploy we are set to build further on our activities in 2023 and beyond.