ANDHealth, a national initiative advancing the commercialisation of clinically validated digital health technologies, has launched the ANDHealth+ Program in support of Australia’s growing ecosystem of innovative digital health companies.
ANDHealth+ provides critical financial and strategic input into mid-stage digital health companies looking to raise growth capital or enter international healthcare markets. Successful applicants will receive up to $60,000 funding to access specialist third party services and activities, and up to $100,000 of in-kind support from ANDHealth’s commercial members and broader network.
ANDHealth Managing Director Bronwyn Le Grice said “Digital Health is one of the largest & fastest growing sectors of investment with over US$8 billion invested across 500 deals in 2016. In Australia, many companies struggle to access all of the skills required to fully realise the value of the technologies in this nascent space”.
“ANDHealth+ provides companies with services and support to overcome key business challenges, such as regulatory planning and approvals, necessary clinical or market evidence, or pricing and market entry strategy. As a not for profit, ANDHealth+ is able to provide companies with direct financial and commercialisation support without taking equity or impacting the company’s intellectual property position.”
Successful applicants will be supported by an advisory board comprised of leading industry experts with a proven track record in digital health product development and commercialisation. Members of the initiative include Novartis Pharmaceuticals, Planet Innovation, Curve Tomorrow, GP2U Telehealth, RMIT University, the Murdoch Children’s Research Institute, HealthXL, and AusBiotech.
“Our members are world-class organisations with proven and demonstrable track records in commercialising and deploying digital health products into international markets and have extensive international networks. Access to our members and wider networks will create a new cohort of investment ready digital health companies ready to enter international markets.” Said Ms Le Grice.
ANDHealth is supported by the MTPConnect Project Fund Program – a dollar-for-dollar matched program investing in big, bold ideas to improve the productivity, competitiveness and innovative capacity of Australia’s medical technology, biotechnology and pharmaceutical sector. MTPConnect is a not-for-profit organisation established in November 2015 as part of the Federal Government’s $250 million Industry Growth Centre Initiative, aiming to accelerate the rate of growth of the Australian medical technology, biotechnology and pharmaceutical sector to achieve greater commercialisation and establish Australia as an Asia-Pacific hub for MTP companies.
Applications are now open until August 4th via www.andhealth.com.au/program