Posted: 24 May 2023
Closes: 18 June 2023
ANDHealth+ is a commercialisation acceleration program, in which participants work with ANDHealth and an industry team of experts to drive growth in their business, with two stages of project funding made available through the ANDHealth Digital Health Accelerator Fund.
Successful applicants will be selected via a proven competitive process informed by a cross-section of multi-sectoral industry leaders with experience in evaluating and selecting high-potential SMEs. Five SMEs will be selected each year, from FY2022 to FY2025.
Project engagements will run and be supported by dedicated and specialised ANDHealth staff, enabling SMEs to undertake pivotal activities such as clinical trials and real world commercial and clinical validation studies.
With support from ANDHealth and industry advisors, each SME will then prepare a project plan designed to deliver maximum impact utilising a combination of cash and in-kind services over two stages spanning 18 months. Key milestones and go/no-go points will be defined within each stage.
Funding and support will be provided to eligible activities that will significantly improve the applicant’s ability to commercialise, raise growth capital and/or execute on a market entry or growth strategy.
An Industry Advisory Panel (IAP) will be appointed for each cohort company, based on the specific requirements and optimal endpoints/outcomes for that SME with specific consideration given to ‘de-risking’ the company from the point of view of professional investors and enterprise customers.
In consultation with their dedicated ANDHealth support team and IAP, selected SMEs will design two interrelated projects designed to accelerate their progress on the commercialisation pathway:
Stage 1 (Duration 3-4 Months): Activities will focus on identifying key risks and addressing them using third-party expertise and the expertise of each company’s IAP.
Stage 2 (Duration 8-10 Months): Activities will focus on achieving key clinical and commercial milestones which will drive institutional investment and/or enterprise customer uptake.
✓ Direct access to the project funding, specialised expertise and ‘hands on’ resources needed to prove the clinical and commercial efficacy of your solution and accelerate your commercialisation, investment and growth outcomes.
✓ Multi-sectoral Industry Advisory Panel (IAP) of experts dedicated to your company.
✓ Access to an International Investment Advisory Committee (IIAC), comprising internationally recognised investors, clinicians, founders and executives from a diverse range of digital health businesses.
✓ Facilitated deal flow days with selected investors and customers (national and international) to inform stage 2 project plans and company growth strategy.
✓ Facilitated introductions to national and international networks of investors, global healthcare and technology companies and specialised service providers alongside participation in events, conferences and facilitated programs specific to evidence-based digital health companies.
✓ Significant in-kind support from vetted suppliers, ANDHealth members and partners.
✓ Project management support from ANDHealth so that you can focus on your whole business while meeting the project milestones.
✓ No Equity Requirements: ANDHealth+ does not require any equity in consideration for participation.
✓ No Intellectual Property Transfer: ANDHealth does not assume any ownership of or require any royalties from intellectual property (IP) in the project.
✓ Cohort and Alumni only events, access to international experts, involvement in ANDHealth policy initiatives and promotion across the Australian healthcare landscape.
Applications for Cohort 3 of ANDHealth+ are now open and will close 11:59 pm (AEST) Sunday 18 June.
• Read the instructions and information on our website.
• Register to attend an ANDHealth+ information session. Click here to register for the first information session on Thursday 18 May.