The NSW Health Commercialisation Training Program is this week celebrating its 3,400 participants raising $134.8 million in total while creating 40 new companies, launching 64 cutting-edge products, and initiating 31 new clinical trials in 10 years.
The Program has also helped participants engage 304 mentors and experts, and benefited over 23,000 patients during this period, helping to position New South Wales as a leader in global health innovation.
The Program is a cornerstone initiative funded by NSW Health through the Office for Health and Medical Research (OHMR), and delivered by Australia’s flagship deep tech incubator Cicada Innovations.
The health innovation ecosystem gathered at a Showcase event held earlier this week at Cicada’s Eveleigh headquarters to honour these remarkable achievements of the state’s clinicians, researchers, innovators, and entrepreneurs.
The 10th Anniversary Showcase, NSW Health Commercialisation Training Program was attended by a broad range of healthcare stakeholders, and highlighted the critical ways the program is transforming patient care and addressing some of the world’s most pressing challenges in healthcare.
OHMR, in conjunction with NSW Health, has been unwavering in its commitment to nurturing innovation and fostering a vibrant and resilient ecosystem, driving healthcare innovation that will shape the future of Australia’s health sector.
According to The Hon. David Harris, MP, Minister for Medical Research:
Minister for Medical Research David Harris said:
“This year’s showcase was extra special as we celebrated the 10th anniversary of this fantastic initiative. I was pleased to honour the 2024 participants, as well as recognise the alumni who have achieved great success thanks to this program.
“The Commercialisation Training Program ensures the NSW Government can continue supporting clinical research to enable safe, evidence-based development of cutting-edge treatments from bench to bedside.
“The program’s success shows the difference we make when we accelerate the commercialisation of medical technologies in NSW healthcare, to ensure innovative life-saving treatments come to market.
“By bringing clinicians and researchers together with experts in key areas including industry, funding and regulation, this program helps us to harness and grow the incredible wealth of knowledge and expertise in our state.”
According to Sally-Ann Williams, CEO of Cicada Innovations:
“The remarkable impact of this program is a testament to the strength of our ecosystem and the vision of NSW Health, accelerating the journey of 3,400 health innovators. Together, we are laying the foundation for a more resilient healthcare system and building a future where innovation is at the core of healthcare improvement.
“But the impact of these achievements will be felt beyond individual success stories or any single industry. By helping to bring incredible research and early-stage innovation in healthcare to market, we are laying the foundation for long-term economic resilience for the nation as a whole, and creating new opportunities for a broad range of industries that will shape the nation's future.
“So by fostering deep tech innovation in healthcare, we are not only improving patient outcomes but also building Australia’s economic backbone and contributing to the growth of Australia’s sovereign capabilities.”
Program Alumni: Two Case Studies
Tetratherix is tackling the global challenge of vaccine wastage, which currently sees nearly 30 percent of doses lost due to storage challenges.
Its proprietary “biostealth matrix” technology, Tetramatrix, is a fully synthetic and biocompatible platform that improves therapeutic delivery without triggering foreign body reactions, offering versatile applications across multiple clinical needs.
Founder and CTO, Dr Ali Fathi, developed the core technology during his PhD at the University of Sydney and founded Tetratherix in 2015. With 40+ peer-reviewed publications, Ali has led the company to raise over $8 million and expand into the US market.
Tetratherix is now on a mission to impact 10 million lives globally within a decade by ensuring widespread and inclusive access to its technology, revolutionising regenerative medicine and targeted mRNA delivery.
SDIP Innovations is redefining bone regeneration through its proprietary bioresorbable bone implant and scaffold that mimics the natural bone remodelling to heal fractured bones while completely converting to bone.
Born through NSW Health’s Medical Device Commercialisation Training Program, SDIP has secured over $11 million in funding, developed a robust IP portfolio, and established a state-of-the-art manufacturing facility in NSW.
Co-founder and CEO, Dr Maryam Parviz, has over 16 years’ experience in medical devices and biomaterials, and was awarded a commercialisation fellowship by NSW Health. She spent three years in San Francisco-based incubators, expanding her team and testing business scalability in the US.
Photo: Cicada Innovations
The NSW Health Commercialisation Training Program (website) is a cornerstone initiative designed to support health tech innovators across New South Wales. Launched in 2014, and funded by NSW Health through the Office for Health and Medical Research, the Program has assisted 350 medical entrepreneurs to develop the business skills to successfully commercialise their products. Delivered by Cicada Innovations, this program offers free, stage-specific training tailored to researchers, clinicians, entrepreneurs, and innovators who are committed to transforming their ideas into viable biomedical and health tech solutions.
Through a flexible blend of online modules, one-day seminars, and in-depth courses, the Program equips participants with the essential skills and knowledge needed to successfully navigate the complexities of the health tech landscape. Topics covered include Intellectual Property, regulatory affairs, clinical trials, and customer discovery, ensuring that innovators are well-prepared to bring their solutions to market.
In addition to foundational commercialisation training, the Program offers specialised courses that delve into the unique challenges of different health tech sectors, such as medical devices, software, therapeutics, and diagnostics embarking on their path to market in Australia and overseas. Participants gain valuable insights from industry experts, engage with mentors, and build connections that are crucial for the success of their ventures.
By providing this comprehensive support, the NSW Health Commercialisation Training Program plays a vital role in advancing health tech innovations that improve patient outcomes and contribute to the growth of the health sector in NSW.
Cicada Innovations (www.cicadainnovations.com) was founded in Sydney and has a 24-year track record of developing deep tech ventures that tackle some of the world’s most pressing problems.
Cicada’s national incubators, commercialisation training, and community brings together the entrepreneurs, scientists, business leaders, and policymakers to solve complex challenges with deep tech like the future of human health, food security and the climate crisis.
Cicada has seen an unprecedented $1.3 billion in exits from six deep tech ventures, and has helped over 400 companies raise more than $2.5 billion in funding. Named the ‘Top Incubator in the World’ by the International Business Innovation Association.