Breakthrough Victoria in collaboration with world-leading biotech and health sciences company, CSL, the Walter and Eliza Hall Institute of Medical Research and the University of Melbourne have formed a consortium to accelerate biotech commercialisation across the state.
Valued at $95 million, the new incubator will have capacity to host up to 40 biotech start-ups at a time and provide unparalleled access to industry expertise, academic and clinical facilities and infrastructure.
The incubator is the first project to receive an investment from the $2 billion Breakthrough Victoria Fund which will help local start-ups overcome barriers to turning ideas into commercial outcomes by providing vital access to sophisticated technology platforms and expert technical support.
Located within the Parkville Biomedical Precinct, the incubator will capitalise on the infrastructure investments made in the Parkville National Employment and Innovation Cluster (NEIC), which includes 30 world-class hospitals, medical research institutes, cooperative research centres and universities.
Breakthrough Victoria is actively seeking investment opportunities to transform innovations in key industry sectors such as health and life sciences, agri-food, advanced manufacturing, clean economy and digital technologies into real world applications.
Victoria’s medical research sector supports more than 30,000 jobs across institutes, universities and industry, with more than 40 per cent of Australian-based biotechnology and medical technology companies calling Melbourne home.
To explore opportunities for collaborating with Melbourne’s biotechnology sector or investing in the sector, contact us.