AusBiotech has welcomed its selection as an Industry Partner Organisation to provide support for startups and small to medium enterprises under the Australian Government's Industry Growth Program.
Announced as part of the 2023-2024 Budget, the program provides an advisory service for startups and medium enterprises (SMEs) undertaking innovative commercialisation and growth projects within the priority areas of the Government’s National Reconstruction Fund (NRF).
The Industry Partner Organisations, such as AusBiotech, provide specialised advisory services to start-ups and high-growth SMEs participating in the program, complementing the work of its advisers.
“AusBiotech is a connected network of over 3,000 members representing the whole Australia’s life sciences value chain from spin-outs and SMEs, through to research institutes to large international companies," said AusBiotech CEO Rebekah Cassidy.
"As the leading voice of Australia’s biotech industry representing the interests of Australia’s innovative life sciences community, supporting SMEs to grow along their commercialisation journey has been at the heart of our work for almost 40 years.”
“Now, as an Industry Partner Organisation with the Industry Growth Program, we are perfectly positioned to collaborate, and leverage our vast network and deep industry connection, for the benefit of Program participants," said Ms Cassidy.
“By engaging and collaborating across the sector we will support mentoring, capability building, international connection, and access to capital opportunities for participants.
“Almost 80 percent of Australia’s life sciences companies are SMEs with the majority pre-revenue and in the process of commercialisation or translation of research, which is why programs such as this are so important. We’re grateful to the Government for their ongoing support of our industry and are looking forward to working closely with the Industry Growth Program and other Industry Partner Organisations to support participant success.”