REDI-backed AUSCEP Celebrates A Year Of Success For Australian Clinical Entrepreneurs

30 October 2023

The Australian Clinical Entrepreneur Program (AUSCEP) recently published its first AUSCEP Impact Report 2023: Bridging the Gap for Healthcare Start-ups and is celebrating a year of success for its first cohort of Australian Clinical Entrepreneurs.

Launched in 2022, AUSCEP is delivered by the University of Melbourne and the University of Western Australia partnership and made possible under MTPConnect’s Researcher Exchange and Development with Industry (REDI) initiative supported by the Medical Research Future Fund (MRFF).

Inspired by the successful Clinical Entrepreneurship Program (CEP) from the UK, AUSCEP was customised and built for the Australian environment, the AUSCEP pilot has kicked goals through a pioneering 12-month program across New South Wales, Victoria, and Western Australia.

Pictured: AUSCEP entrepreneur testimonials, Derek Eng from Western Australia and Jo Braid from New South Wales.

AUSCEP Program Director Dr Amandeep Hansra said in the dynamic landscape of healthcare, innovation is not a luxury but a necessity.

“Who better to innovate in healthcare than those who have experienced working in it, on the frontlines? This was always our vision behind bringing the Australian Clinical Entrepreneurship Program to Australia,” said Dr Hansra.

Bolstered by the support of MTPConnect’s REDI program and the state governments, AUSCEP shows how a national initiative can operate as both a catalyst and a profound platform for professional development.

Statistics from the first year of the AUSCEP program speak for themselves: 18,000 patient’s lives impacted, seven IP registrations, 38 new domestic partnerships formed and a 65 per cent increase in revenue of cohort companies, to name a few – see infographic from the 2023 Impact Report below.

Pictured: A snapshot of statistics from the AUSCEP Impact Report illustrating the success of the program’s first cohort of Clinical Entrepreneurs.

Quoting directly from the Impact Report: “AUSCEP is accelerating a dynamic pipeline of clinician-led companies, nurturing the next generation of clinical entrepreneurs. The program has been supported by cross-disciplinary partnerships and harnesses more than 20 associates, including major hospitals and a broad selection of industry.

“Clinicians are optimally placed to drive healthcare innovation due to their intimate consumer interactions and nuanced grasp of healthcare challenges. We are witnessing an incredible number of participants (over 120!) join our highly respected network and produce brilliant results in our field.”

Pictured: AUSCEP entrepreneur testimonials - Roy Mariathas from New South Wales and Gill Singleton from Victoria.

The Report says clinicians are perfectly placed to create the next generation of clinical innovation in Australia, but they often lack:

• The necessary tools and methods to craft their innovative ideas
• The right connections and networks to scale their designs
• The practical knowledge and business acumen to kickstart their new product or service
• Access to the best mentors who understand both the healthcare industry and how to provide a start-up with the best introduction to the marketplace.

Director, Researcher Exchange and Development within Industry (REDI) initiative, Jarrod Belcher, said AUSCEP is building a culture of innovation and entrepreneurship in Australian clinicians.

"AUSCEP is enabling skilled development for intrapreneurs and entrepreneurs and helping them bring their dream innovations to reality. With motivated and engaged clinical entrepreneurs and innovators, this program is building an optimum environment to enable the best quality healthcare," Belcher said.

AUSCEP's second cohort is already underway with 64 clinicians from across NSW, Victoria and WA.

Access a copy of:  AUSCEP Impact Report

*AUSCEP Pre-program survey data of 55 clinicians.

AUSCEP is made possible under the Researcher Exchange and Development within Industry (REDI) initiative supported by the Medical Research Future Fund. In delivering the REDI initiative, MTPConnect is partnering with research, training and industry organisations to deploy an integrated three-pillar plan driving skills and workforce development for the MTP sector nationally.

MTPConnect’s REDI program would like to thank AUSCEP for permission to use images, quotes and information from the AUSCEP Impact Report 2023 for this news story.