BENDIGO has been announced as the home of a new initiative accelerating the development of health and life sciences startups.
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The Bendigo Health Accelerator will be based at the city’s public hospital and is expected to be delivered from 2020.
Bendigo Health innovation and digital services executive director Bruce Winzar said the program would give small businesses and start-ups a platform to pitch their services to the health sector.
“The product gets accelerated into the marketplace,” he said.
The small businesses and start-ups would also benefit from coaching and mentoring, as well as access to data, toolsets and technology.
Mr Winzar said the health care group was aiming to be in a position to invite start-ups to submit expressions of interest by late 2019.
“It’s pretty exciting in a regional context,” he said.
He said regional and rural communities might attract products and programs different from their metropolitan counterparts.
The Bendigo Health Accelerator proposal’s regional influence appealed to the state’s startup agency.
LaunchVic chief executive Dr Kate Cornick said there was a ‘phenomenal’ number of entrepreneurs in the regions.
Yet, the Bendigo Health Accelerator is believed to be the state’s first regional health accelerator.
“One in five startups is in health and wellbeing in Victoria – more than any other sector,” Dr Cornick said.
“By funding proven accelerators and education programs, we’re building the support services that our health startups need to succeed on a global scale.”
She said the support an accelerator in Bendigo could provide regional entrepreneurs, combined with the city’s ‘incredible’ health sciences network, seemed like a natural mix.
Bendigo Health is partnering with the Health Round Table and lead agency Melbourne Health to deliver the program, which forms part of The Victorian Health Network Accelerator.
“Melbourne Health has had three years of success running an accelerator program. It just seemed natural to partner with them,” Mr Winzar said.
The Victorian Health Network Accelerator consists of two hospital accelerator programs: the aforementioned one at Bendigo Health, and the Melbourne Health Accelerator program.
The Melbourne Health component will be delivered first, from 2019, at the Royal Melbourne Hospital.
The Victorian Health Network Accelerator and six other initiatives will share in a total of $4.8 million as part of today’s announcement.
Other funding recipients include: The Victorian Medical Device Partnering program by Flinders University; Scaling Medtech Innovation from Victorian Hospitals program by The Actuator; The Victorian Angel Investor Education project by Artesian Venture Partners; The HealthTech Export Strategies for Asia Markets program by Australia China Health Accelerator; The HealthTech Reimbursement: Getting Paid in the US program by BioMelbourne Network; and The B.R.I.G.H.T Future for Digital Health Innovators by ANDHealth.
“Victoria is home to leading hospitals, universities and medical staff and we want to encourage our health startups to bring their innovative thinking into our world class health system,” Health Minister Jill Hennessy said.
Minister for Innovation and the Digital Economy Philip Dalidakis said accelerating the growth of Victoria’s health and life sciences startups would generate a range of economic and health benefits including employment growth, more efficient health services and better patient outcomes.
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