Life Sciences WA, supported by ANDHealth and MTPConnect, has been awarded one of eight X-TEND WA program grants to deliver a unique program to enhance investment opportunities and foster commercialisation of digital health companies in WA through a bespoke ‘Investment Series’ education program.

"The McGowan Government is ensuring our promising innovators have access to programs that will help them build strong, viable businesses and create more local jobs,” said WA’s Innovation and ICT Minister Stephen Dawson.

The X-TEND WA program is part of the McGowan Government's $16.7 million New Industries Fund, which supports and accelerates new and emerging businesses to diversify the state's economy and create jobs. Grant funding will be matched with funding through the MTPConnectResearcher Exchange and Development within Industry (REDI) program.

ANDHealth CEO, Bronwyn Le Grice, said she was excited to be part of a collaborative with Life Sciences WA, MTPConnect and the WA Government to support the commercialisation of Western Australian innovations, with the flow on benefits to the state of job creation and economic growth.

ANDHealth has been actively partnering with WA organisations and the WA government since 2019. As a result of the targeted programs supported by the Western Australian Government, ANDHealth has seen a >10 fold increase in the number of companies actively engaging with its programs since that time.

“Challenges in accessing critical growth capital in local markets often drives high growth potential companies to look further afield, resulting in the economic benefits of WA discoveries ending up in other states or off-shore,” Le Grice said. “In addition to these challenges, digital health companies face specific hurdles in raising capital as it is a nascent sector with rapidly evolving investment drivers.

“ANDHealth is Australia’s most successful digital health commercialisation and investment readiness organisation. We are looking forward to delivering specific investor education programs to the Western Australian investor community, to support the growth of a world-class digital health sector in WA.”

The Life Sciences WA Investment Series is unique in providing, for the first time, targeted education to investors, from experienced professionals with deep domain expertise. It will also leverage the AusBiotech 2022 National Conference, being held in Perth, to showcase the industry’s potential.

Through the program, connections will be facilitated between investors and experts from the Life Sciences WA network to assist with assessing specific investment opportunities. A Reference Guide for Investors will also be developed.

Read the Minister's press release
Learn more about Life Sciences WA