Expressions of interest sought for $10 million fund to drive health solutions of tomorrow
The NSW Government is calling for expressions of interest from global health innovation partners to transform world-leading research at the Westmead Health and Innovation District into new lifesaving technologies.
Minister for Enterprise, Investment and Trade Stuart Ayres said applications for the $10 million Westmead Innovation Ecosystem Fund are now open.
“The potential for breakthroughs in fields such as viral vector technology, cell and gene therapy, particle therapy, phage therapy and clinical trials being carried out across the District is huge,” Mr Ayres said.
“This fund will help turn this critical research into commercial opportunities that deliver jobs for NSW and better medical care for the world.”
The NSW Government announced the fund to catalyse the innovation ecosystem, by seeding new infrastructure and programs that will support the continued growth of the Westmead Health and Innovation District into the future.
Minister for Health and Medical Research Brad Hazzard said the fund will maximise the District’s innovation and commercialisation potential to deliver the best health outcomes in NSW, across Australia and globally.
“This $10 million fund will connect our world-leading researchers with global experts in commercialisation to take our greatest breakthroughs in medicine from the laboratory benchtop to the hospital bedside,” Mr Hazzard said.
“Through this support, we can further bolster the Westmead Health and Innovation District’s capacity as a globally recognised hub for new medical discoveries and sustainable economic growth.”
The Westmead Health and Innovation District is home to four major hospitals: Westmead Hospital, the Children’s Hospital at Westmead, Westmead Private Hospital and Cumberland Hospital; and four major research institutions: WSLHD Research and Education Network, Kids Research, Children’s Medical Research Institute, Westmead Institute for Medical Research. The District is also home to two university partners: University of Sydney and Western Sydney University; and NSW’s largest pathology service.
The fund will further develop the Westmead Health Precinct as the epicentre of health and innovation within the District, which currently provides:
- $1.9 billion in public healthcare
- Services more than 120 suburbs spanning 780 square kilometres
- 85,531 annual admissions
- 3,000 daily non-admitted patient occasions of service
- 32,767 annual surgeries
Global health innovation organisations and facilitators, with industry networks and expertise in medtech, biotechnology, commercialisation and innovation growth are encouraged to submit their proposals.
Stage 1 applications close midnight 28 March 2022. More information on the fund and its eligibility requirements can be found at investment.nsw.gov.au/westmeadfund.