The Victorian Government today announced $80,000 in funding for The Actuator to partner with  T-Hub in Hyderabad, India, to deliver Medtech’s Got Talent India.

The program will help bring the best innovations in medical technology to Victoria. The Actuator and T-Hub will deliver a series of ideation sessions and workshops to form closer connections with India’s Medtech startup sector and select Indian startups to travel to Victoria to engage with Victoria’s renowned medical institutions and growing startup sector.

A second Victorian organisation, Beanstalk, is also partnering with T-Hub to deliver an AgTech exchange program. Beanstalk and T-Hub are the successful recipients of a $150,000 Australia India Council grant, as a recognition of the strong partnerships Victoria’s startup sector has formed with India.

The program will select 12 ‘best in class’ AgTech startups in India and Australia for a two-way exchange, convening in Victoria and India, that has solutions to solve important problems pertaining to both countries’ agriculture sectors. The program, taking place in early 2019, will convene in the heart of Melbourne at Beanstalk Labs, an industry-backed co-creation AgTech hub developed in partnership with YBF Ventures.

Late last year, the Victorian Government had also partnered with YBF Ventures to help grow Melbourne’s thriving fintech sector.

Victoria and India's booming startup sectors

Victoria’s health sector contributes $30 billion each year to the State and is the largest and fastest growing source of employment. In Victoria, 11 per cent of startups and scaleups are health and wellbeing companies – yet these businesses are accounting for 26 per cent of startup jobs.

Victoria’s agtech sector is a $13 billion industry. Agtech has the capacity to revolutionise farming, improve productivity, sustainability and profitability on farm and down the value chain.

India is the third-largest startup hub in the world in number of startups, behind only the United States and the United Kingdom. There are more than 140 accelerators and incubators in India, growing at a rate of 40 per cent annually.

About T-Hub

T-Hub is a global startup catalyst that powers entrepreneurship, scale and deal flow. Incorporated in Hyderabad, India in 2015, it has provided more than 350 national and international startups with access to mentors, customers, corporates, investors and government agencies. T-Hub is on a mission to scale startups globally, offering entrepreneurs a world-class platform to help them generate revenue and get access to new customers, capital and markets. T-Hub supercharges corporate innovation by enabling an out-of-the-box approach, works with investors to enhance deal flow, and helps governments to implement and improve their startup initiatives.

About The Actuator

A Melbourne based not-for-profit entity, The Actuator is Australia's premier medical technology commercialisation initiative: priming, augmenting and developing our state-based innovation ecosystems through a nationally-focused strategy.

About Beanstalk AgTech

Beanstalk, headquartered in Melbourne, is a venture builder focused on scaling high growth agtech companies with the potential to have a global impact. It brings together corporates, producers, government, research and entrepreneurs across Asia to catalyse and commercialise ideas that reinvent our future food system.