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Biomedical Translation Fund – Fund Managers announcementTuesday, December 13, 2016
The government’s $500 million Biomedical Translation Fund (BTF) will gain the experience and international networks of three experienced venture capital fund managers. The managers, Brandon Capital Partners, OneVentures Management and BioScience Managers, will help to usher the ideas of Australian start-ups from the laboratory and into new and innovative medicines, medical devices and therapies.
The BTF will help to create the medical innovations of tomorrow by investing in today’s most promising health and medical research.
The three fund managers will select and fund Australian start-ups in health and medical research. Their involvement will address the capital and managerial constraints that many start-ups face as they try to commercialise their research.
The managers will screen investment proposals to the BTF and develop a broad portfolio of investment in Australian science and research. The BTF will capitalise on Australia’s talent in health and medical research, and help to bring the benefits of an advanced biomedical sector to the Australian public.
Commercialisation of innovative ideas is a challenge for most start-ups. Access to capital and a clear direction are as important as a good idea. The BTF will not only partner with innovative start-ups to help ensure their success, it also creates an environment that encourages researchers to pursue ideas.
Creating the conditions by which start-ups are encouraged to persevere is necessary to keeping their research in Australia, and for securing Australia’s position at the forefront of biomedical innovation.
Minister for Industry, Innovation and Science, the Hon Greg Hunt, says “The BTF will help upskill early-stage medical research here in Australia and create more jobs.”
The BTF, and support for the commercialisation of innovative ideas, is a key element of the National Innovation and Science Agenda (NISA). The government will provide $250 million to the fund, to be at least matched by the fund managers, who will then direct the funding to high-potential innovations.
Backing promising ideas with capital and experience will enable the development of ideas into commercial realities, and turn start-ups into active high-growth, high value companies.
Read the media release: minister.industry.gov.au
Learn more on the Biomedical Translation Fund: business.gov.au/BTF