AusBiotech has launched a directory of accelerators and incubators relevant to Australian life sciences companies, providing a valuable new resource for biotech, medtech and digital health companies in the early stages of their development.
Access to capital and opportunities to accelerate strategic planning in the early stages of development are often two of the biggest challenges facing early-stage companies in the biotech sector. Participating in incubator or accelerator programmes provides opportunities to gain access to expertise, funding and introductions to potential investors, as well as programmes designed to drive innovations toward real-world outcomes.
Incubators offer intensive strategy support and often provide shared office and/or laboratory facilities for small and very early-stage companies. They are sponsored or run by venture capital (VC) firms, angel investors, government entities, or major corporations.
Accelerators are an intensive development-focused programme designed to advance significantly a company’s progress along the pathway towards commercialisation. A typical accelerator programme has a strong focus on building capability in business and commercial strategy, securing investment, IP protection and regulatory requirements, and support in clarifying the product’s market entry strategy.
The AusBiotech summary of Australian Life Sciences Incubator and Accelerator Programmes features programmes that are currently active, directly relevant to Australian life science companies and are available to registered Australian companies with established proof of concept. The majority of programmes listed provide funding: this can be in grant form, via SAFE notes, or as seed funding (non-dilutive and in some cases for equity). Each programme has specific eligibility and selection criteria and companies are encouraged to explore which option best suits their needs.
The programmes listed are designed and managed by life-science professionals who have significant experience in the industry and offer a deep understanding of both technical and commercial requirements for companies to succeed. All programmes offer connection with investors and the opportunity to ‘pitch’, and capability-building activities commonly focused on strengthening commercialisation strategy, capital raising and bringing innovative technologies closer to market.
Access to the new directory can be found here.