MTPConnect will match the funding by contributing $100,000 in cash per annum and $200,000 per annum in in-kind support over four years, for joint co-funded activities to support the WA Node.
An initiative to grow Western Australia’s life sciences and innovation sector and boost local research capability was announced as part of a collaboration between the State Government, The University of Western Australia and MTPConnect.
The creation of a Western Australia life sciences precinct will bring together university researchers and industry partners to generate new business opportunities in medicine, health, agriculture and biodiversity.
Western Australia has an established background in health and medical research and this initiative will support the development of ground-breaking products and services to help improve the commercialisation of life sciences research.
A Western Australian Node of the Commonwealth Government’s Industry Growth Centre’s initiative, MedTech and Pharma Growth Centre (MTPConnect) will be established and will run educational programs to support life sciences start-ups and provide business development, innovation, health translation and investment attraction advice.
The WA Government will commit $1.2million over four years and work with MTPConnect and UWA towards the acceleration of medical and biotechnologies through the creation of this life science precinct; establishing WA as a world leader in this area.
UWA will be the lead university for the precinct providing $300,000 per annum over four years in-kind towards the provision of facilities and the appointment of a leader to connect institutes, research and industry across the sector.
UWA Vice-Chancellor Professor Dawn Freshwater said the University was perfectly placed to work with the WA Government and MTP Connect on this initiative, as UWA has world-leading researchers in the health, environmental and agricultural sectors.
“We have considerable multidisciplinary research expertise and experience in innovation in areas of relevance to the Australian life sciences ecosystem. This node provides numerous opportunities for the nation and state, as we leverage the connections of the WA Government and MTPConnect nationally,” Professor Freshwater said.
“We are excited the WA Government is driving a strategy to support life sciences and through the creation of a life science precinct WA will be at the forefront of this industry.”
With over 20,000 students from across Australia and around the world, UWA is preparing the next generation of leaders across multiple disciplines and the life sciences area is a key pillar in its strategy to develop the innovators of the future.