NSW Health and Cicada Innovations celebrate Australia’s largest healthcare startup training program with 1,100 participants in the first year
SYDNEY, November 4, 2022 /PRNewswire/ — New South Wales’ Health Commercialization Training (CT Programme) program, delivered by pioneering Australian deep tech incubator Cicada Innovations and launched a year ago, organized a demonstration day on November 3, 2022 held at Cicada Innovations and attended by the NSW Health Secretary Susan Pearce.
Sally-Ann Williams, CEO of Cicada Innovations
The CT program was designed based on lessons learned from NSW Health and Cicada Innovation’s former Medical Device Commercialization Training Program (MDCTP), which supported 1,037 medical technology innovators between 2014 and 2020.
The new CT program has seen numbers soar from the MDCTP, which was only open to participants working in medical device technologies, after its scope was widened to also cover the spectrum of therapeutics, diagnostics and software as medical devices, as well as medical devices.
Many companies emerging from the program have raised more than $67 million in growth capital and grants, including from the NSW Medical Device Fund, by the end of the programme.
The new CT program has already attracted more than 1,100 participants in its first year alone.
Its aim is to create sustainable NSW businesses and accelerate innovative ideas that will revolutionize the healthcare industry, improve patient outcomes and provide economic opportunities for emerging companies that now span healthcare technology, biotechnology and medical technology.
It was designed and delivered by over 80 industry experts, including Alan Taylorexecutive chairman of the resident company Cicada which carried out australia the largest ASX biotechnology list in 2021, Clarity Pharmaceuticals, and Bronwyn LeGricefounder and CEO of australia the only organization specializing in accelerating the commercialization of digital health companies, ANDHealth.
Sally Ann WilliamsCEO of Cicada Innovations, said: “The incredible growth in attendees that has occurred this year is truly evident in the vision and growing opportunities that NSW Health has catalyzed for the state’s health technology companies. The long-term investment in capacity building is paying off not just in increasing the number of people participating in the program, but in the number of promising commercialization activities we see.”
Katja Beitat of Cicada Innovations, said: “The broader scope of the program covering bio, medical and health technology innovations is forward-looking amid a growing number of emerging combination technologies, such as digital drug discovery and personalized medical devices using AI and machine learning. Supporting a multidisciplinary approach to innovation is what sets this program apart.”
This year’s program comprised 11 modules that build on each other to deliver relevant information at the right stage of market, and was delivered in a fully hybrid form (both online and in-person) to support scale and accessibility.
It included three key steps, from getting started, to validating an idea with peers and experts, to helping participants accelerate their market entry and growth.
The program will restart from July 2023 at June 2024and is open to researchers, scientists, clinicians, entrepreneurs, intrapreneurs and individuals in the healthcare industry who are working on a new medical device, diagnostic or therapeutic product, or software that is considered a medical device residing in New South Wales .
Demonstration companies present at the November 3, 2022 Showcase:
- Neurode has developed an evidence-based treatment for adults with Attention Deficit Hyperactivity Disorder (ADHD) using a non-invasive brain stimulation device and a complementary digital health app to monitor and offer management strategies behavior to patients.
- A team from the Garvan Medical Research Institute has developed a PCR diagnostic test to detect kidney disease early. This platform technology has the potential to also be applied to non-invasive prenatal testing, breast cancer, and lung transplants.
- Radiation Therapy AI aims to use AI to improve radiation therapy cancer treatments worldwide. Built in partnership with Chris O’Brien Lifehouse, the technology quickly succeeded in reducing clinicians’ workloads and saving patients’ lives.
- TroBio Therapeutics is developing a novel cancer treatment that targets cancer cell architecture and removes the toxicity of current chemotherapy treatments.
Cicada Innovations (www.cicadainnovations.com) is the home of deep technology in Australia. The sydneyNew York-based incubator with twenty-one years of experience building deep tech companies tackling some of the world’s most pressing problems.
Working at the forefront of innovation, it supports companies seeking to create life-changing technologies – applying cutting-edge science such as advanced materials, synthetic biology and AI to challenges such as the future human health, food security and the climate crisis.
Since its inception, Cicada has experienced unprecedented growth $1.3 billion in the releases of six deep tech companies over the past two decades, and has helped more than 300 companies raise more than $1.5 billion in financing. It has twice been named “Best Incubator in the World” by InBIA and has provided commercialization training to thousands of people working in science and technology.