New biotech incubator in Australia to drive world-class medical research

CSL, the Walter and Eliza Hall Institute (WEHI), and the University of Melbourne have secured funding to create a startup incubator to support and grow earlystage Australian biotech companies.

The incubator, to be located at CSL’s new global corporate headquarters under construction in the world-leading Melbourne Biomedical Precinct, will support startup companies to translate promising medical research into commercial outcomes. The incubator is scheduled to open to startups in 2023 and will be able to accommodate up to 40 early-stage companies from around Australia. It will be open to applications from small biotech companies who have engaged in early research and are seeking to take their discoveries to the next stage of development. In addition to affordable, state-of-the-art wet-lab facilities, equipment and office space, the incubator will provide a range of services, including commercialisation education programmes, facilitated access to investors, industry mentoring and access to service providers.