$134+ million raised, 40 companies, 64 products, 31 clinical trials: NSW Health Commercialisation Training Program celebrates 10 years

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.

It 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 the Office for Health and Medical Research (OHMR), in collaboration with NSW Health, and delivered by Australia’s flagship deep tech incubator Cicada Innovations.

The health innovation ecosystem gathered at an 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.

The 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, “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.”

Sally-Ann Williams, CEO of Cicada Innovations, said, “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.”