The Victorian Government, Monash University and Johnson & Johnson Innovation officially opened the new Johnson & Johnson Innovation Partnering Office (JJIPO@Monash) at Monash's Clayton campus in Melbourne on 15 February 2018.
Expanding on Monash University's existing partnership with the Johnson & Johnson Family of Companies, JJIPO@Monash will facilitate access by Victorian researchers and companies to the global expertise in scientist research, investment, and commercialisation of the Johnson & Johnson Family of Companies across pharmaceuticals, medical devices, and consumers.
"JJIPO@Monash will work to establish connections and collaborations with leading innovators in other global life science hotspots, including Johnson & Johnson's Centre for Device Innovation at Texas Medical Centre and FutureX in Israel," said Kathy Connell, Senior Director, New Ventures, Australia/New Zealand, for Johnson & Johnson Innovation (JLABS).
It will also nurture the next generation of innovators by delivering training, mentoring and networking programs connecting with stakeholders across the global Johnson & Johnson Innovation network.
To support the collaboration, JLABS also announced the Victorian QuickFire Challenge: Driving Device Innovation – a joint initiative with the Victorian Government aimed at helping to kick off the search for innovative, new medical devices. The government will provide A$300,000 of grant money to be shared among three individuals or groups who win the competition. Winners will also receive access to JLABS prestigious global mentoring and development resources.
Medical device innovators with projects in the early stages of development or commercialisation will be able to find out more about the Victorian QuickFire Challenge by visiting Johnson & Johnson Innovation, JLABS in the coming weeks.
Through start-up initiatives such as MedTech's Got Talent, the new MedTech Actuator and BioCurate, the Victorian Government is working to capitalise upon this enormous opportunity for Victoria's booming medtech and pharmaceutical sector – which currently employs more than 23,000 and contributes A$12.7 billion in annual revenue.
Victoria's Minister for Trade and Investment, Innovation & the Digital Economy said the new office will see industry leaders collaborating with Victoria’s researchers to “turn today’s breakthroughs into tomorrow’s commercial success.”
Home to over 40 per cent of Australia’s ASX listed health science companies, Victoria’s reputation for excellence and innovation in the medical technologies and pharmaceuticals sector plays a key role in attracting major global players like Johnson & Johnson to partner with the state’s world-leading research institutes and universities.