Posted: 13 December 2021
BioMelbourne Network Member, ANDHealth, have welcomed the five companies selected for the 2022 ANDHealth+ program, Australia’s leading commercialisation program for digital health.
The successful companies were announced by Dr Katie Allen, MP, Member for Higgins, at our Summer Summit this week.
Over 120 companies expressed interest in the program, with 55 completing the comprehensive application process. The five companies selected were assessed through a rigorous process by a multi-sectoral, multi-disciplinary panel of industry leaders and approved by ANDHealth’s International Investment Advisory Committee.
The five companies selected in the first ANDHealth+ cohort will share in a pool of $3.75M of project funding via the ANDHealth Digital Health Accelerator Fund and over $500k of pre-screened expert professional services.
“ANDHealth+ is the only digital health commercial-isation acceleration program in Australia with proven impact and outcomes. These five companies have successfully navigated an exhaustive process designed to identify the teams and technology with the greatest chance of commercial growth and positive impact for patients in Australia and around the world.”
“Through ANDHealth+, these companies will have access to both Australian and international digital health experts with the specialised skills and real-world experience necessary to support the commercialisation of digital health interventions that underpin better health outcomes and allow Australia to build a globally competitive digital health industry.”
ANDHealth has received $19.75M from the Medical Research Future Fund, alongside commitments from industry partners, to run 4 cohorts of ANDHealth+ over 4 years.
Based on the past performance of the ANDHealth+ pilot program (a smaller scale program), companies participating in ANDHealth+ in the next four years will go on to create over 1000 jobs, impact over 500,000 patients, undertake 175 clinical trials, raise over $130M in new financing and generate $80M in new revenues over the next eight years.