Leading digital health commercialisation organisation ANDHealth has secured $1.4 million in funding from LaunchVic to establish a novel accelerator program for high-growth potential digital health startups.
LaunchVic will back the ANDHealth 'Activate' program that provides a nine-month curriculum-based program to support Victorian digital health companies to become investment and enterprise-customer-ready.
The program will be run out of the Victorian Connected Health Innovation and Commercialisation Centre (CHICC) in Melbourne. ANDHealth received $2.4 million from the Victorian government in September to establish the centre.
ANDHealth support over 600 participants, create 100 new jobs, initiate more than 50 new clinical studies, and give over 400,000 patients access to emerging health technologies.
ANDHealth CEO and managing director, Bronwyn Le Grice, said, “The combined $3.8M investment by LaunchVic and the Victorian Government’s Australian Medtech Manufacturing Centre and Biotechnology Fund is one of the most significant investments into the commercialisation of Victoria’s digital health sector to date.
“We are excited to be able to offer the ANDHealth Activate program, which will support high-growth digital health companies to navigate the complex commercialisation pathway in evidence-based digital health. Participants will benefit from a dedicated training and co-working facility, and access to the expertise of national and international executives in residence.”
Victoria's minister for innovation, medical research and the digital economy said, “The Victorian Government is committed to supporting world-class health and medical research, development, and commercialisation, as well as driving growth across our digital economy.
“This investment into a program specifically targeting digital medical technologies represents a significant step forward in creating a digital health industry that combines the best of our health and medical research sector with the capabilities of our digital economy.”
LaunchVic CEO Dr Kate Cornick added, “By backing programs like ANDHealth with a proven track record of helping founders, we will ensure LaunchVic supports our rapidly growing ecosystem.”