The Morrison government has renewed funding to its six industry growth centres, including MTPConnect, for a further two years.
The government announced the creation of the Industry Growth Centre initiative in 2014 as a centrepiece of what was then called the Industry Innovation and Competitiveness Agenda.
MTP Connect, the growth centre for the medical technology, biotechnology and pharmaceutical industries, was formed in 2015 with a share of $248 million in federal government funding.
The inaugural CEO Sue MacLeman recently transitioned to the organisation's chair with ex-Pfizer executive Dr Dan Grant her successor.
MTPConnect has supported a range of projects since its creation, such as the creation of a sector competitiveness plan, and initiatives supporting the commercialisation of Australian innovations.
It has invested $15.6 million across 37 collaborative projects, leveraging $22 million of matched cash funding from industry and a further $3.7 million in in-kind support.
It also administers the BioMedTech Horizons program for the Department of Health that supported 11 projects in 2018 and attracted $13.3 million in contributions from industry.
Industry minister Karen Andrews announced the government will invest an additional $60 million in the six growth centres over the next two years. MTPConnect will receive $10 million.
The other growth centres are focused on advanced manufacturing; cyber security; food and agribusiness; mining equipment; technologies and services; and, oil, gas, and energy resources.
"In the nearly three years since our establishment, MTPConnect has been helping to accelerate the growth of the medtech and pharma sector by forging stronger connections between research and industry and maximising opportunities for the translation and commercialisation of our discoveries," said CEO Dr Dan Grant.
“This renewed funding from the Federal Government is welcome recognition of MTPConnect’s successes. It allows us to continue making an important contribution to the sector’s growth.”