TMC | Australian BioBridge

In 2018, the TMC | Australian BioBridge was established between the Australian Government and the Texas Medical Center — the largest medical city in the world. The TMC | Australian BioBridge supports linkages across trade, investment and research and development to drive medical advancements.

The TMC | Australian BioBridge connects the Australian health, innovation and research ecosystem with the capabilities, extensive network and programs of the Texas Medical Center. This network includes 60+ institutions, attending to over 10 million patient visits per year, while conducting more research than anywhere else in the world.

 

Healthcare Activator

In collaboration with Texas Medical Center, Austrade have co-designed the Healthcare Activator — a pathway for Australian Digital Health and Medical Device companies to engage with Texas Medical Center innovation programs and partners.  

The Healthcare Activator attracts highly qualified and exceptional health innovators to participate in the globally recognised and competitive suites of programs delivered by Texas Medical Center in Houston, Texas.

Successful companies will have access to office space in the Texas Medical Center Innovation Hub to grow their presence in the US market. While also creating the opportunity to connect with likeminded entrepreneurs, strategic partners, and sector experts.

Through their participation at the Texas Medical Center, Australian healthcare companies gain insights from experts in every facet of running a health-related business in the US, including: clinical trials, regulations and compliance, hospital procurement, commercial pilots, intellectual property, licensing, fundraising, marketing and other critical areas.

Further information on the selection process and criteria for applicants can be found here.

Apply for the Healthcare Activator

Online applications close on 24 June 2022.

Apply now

Austrade actively promotes the annual in-take through various partners including State and Territory Governments and industry bodies. Below is the process for engagement and participation:

Phased Process

Description

Ecosystem engagement

Austrade hosts series of webinars with key stakeholders across the Australian healthcare, innovation and government sectors to promote the Healthcare Activator

Online applications

Australian digital health and medical device companies are encouraged to apply via the online application form

Application assessment

A panel of Austrade representatives review company applications based on TMC’s ‘fitness’ guidelines (see below), and conduct follow-up interviews to establish a shortlist.

Texas Medical Center review and assessment

Austrade and Texas Medical Center representatives review shortlist, and conduct detailed interviews with a further refined shortlist of potential candidates.

Texas Medical Center Selection

Texas Medical Center conduct in-person or virtual (as required) interviews and due diligence, to identify high potential companies for participation in Texas Medical Center Innovation programs.

Texas Medical Center Programming

Successful companies are invited to participate in the Texas Medical Center programs, and connect with industry experts on critical areas of operations and strategy including: clinical trials, regulations and compliance, hospital procurement, commercial pilots, intellectual property, licensing, fundraising, marketing and other critical areas.

 

For Digital Health companies:

  • Commitment to have a decision-maker based in the US to participate in TMC program, build partnerships, and conduct business development
  • More than $1 million in Average Annual Return (AAR)
  • Raised more than $5 million in funding
  • Multiple Australian hospital/user/implementation partners
  • Proposal of how the solution will reduce costs or generate revenue in the US
  • Proposal of what scope of pilot or co-development could be done with a US hospital or health system
  • If applicable, known pathway and timeline to integration in Epic and Cerner if not already

For Medical Device companies:

  • Commitment to have a decision-maker based in the US to participate in TMC programs, build partnerships, and conduct business development
  • Raised more than $2 million in funding
  • Have a management team (at least three full-time-employees)
  • Have animal efficacy data
  • Proposal of value for patient, provider, and payer in US
  • Proposed preclinical or clinical study of expected number of subjects and outcomes
  • Proposed US regulatory pathway and timeline to clearance

Note: This program is offered at NO participation cost to successful companies and Texas Medical Center does not retain equity.

For further information on the TMC | Australian BioBridge or the Healthcare Activator, please contact: Australianbiobridge@austrade.gov.au

 

For enquiries and more information contact us

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