A new biomed incubator has $50 million to back healthtech founders
Researchers and clinicians with startup ideas in the medtech and biotech space can apply for a new startup accelerator that’s writing cheques worth up to $5 million to bring their ideas to market
CUREator+ is a new $50 million incubator program by Brandon BioCatalyst and ANDHealth, backed by the federal government’s Medical Research Future Fund (MRFF) to nurture startup with commercial potential.
It will provide startups in the program with access to up to $5 million in non-dilutive funding, in tranches as they meet agreed milestones. Expressions of interest are now open here.
Dr Chris Nave, CEO of Brandon BioCatalyst, said CUREator+ unlocks the untapped potential of companies through enhanced translation and commercialisation capability building.
“CUREator+ will bridge the funding and capability gaps experienced by promising Australian drug, device, diagnostic, and digital health innovations. Linking larger amounts of non-dilutive funding to the attainment of commercial milestones de-risks the companies making them more attractive for further investment and potential partnerships,” he said.
In addition to the capital, successful CUREator + applicants will have access to research teams, commercial capability-building coaching, IP development, professional governance, management, and operational finance support.
“The expertise and access to networks provided by CUREator + will prove, in the long-term, to be as valuable as the non-dilutive funding provided,” Dr Nave said.
“The incubator provides companies with the tools, advice and incentives for them to thrive, attract capital and become commercially successful.”
ANDHealth CEO Bronwyn Le Grice said the SMEs they work with cite access to local capital and sector expertise as among the biggest challenges they face.
“CUREator + funding will support companies that can ‘grow locally and scale globally’, providing support and specific advice to commercialise technologies that can address major global health challenges and service global patient populations, whilst remaining headquartered here at home,” she said.
“CUREator+ will deliver significant economic benefits to Australia by supercharging our innovation capabilities and providing advice to help companies directly address the commercialisation roadblocks they are facing. The impact of supporting more companies to bridge the viability gap between ideation and commercialisation is critical for Australia’s economy and will lead to the creation of highly skilled and specialised, deep technology jobs that can help support future economic growth,” says Le Grice.
Applications for CUREator+ are now open. There’s more about the program and expression of interest process here.