A new funding partnership between APR.Intern and MedTech and Pharma Growth Centre (MTPConnect) will increase workforce capabilities and strengthen research translation within Australia’s medtech, biotech and pharmaceutical sector.
Under the agreement, MTPConnect’s REDI initiative will provide 25 businesses with a subsidy to ease the cost of engaging a PhD student intern. When combined with the Australian Government’s 90% rebate, this covers the entire net cost of a 3, 4 or 5-month PhD student placement.
Facilitated by APR.Intern, these short-term research placements enable innovative businesses to access Australia’s brightest emerging research talent and fast-track R&D. For universities, these placements support the development of an industry-ready PhD workforce.
This partnership falls under MTPConnect’s $32 million Researcher Exchange and Development within Industry (REDI) initiative made possible by the Medical Research Future Fund, providing industry experiences and skills development for early and mid-career researchers, clinicians and innovators to develop an industry ready workforce keeping pace with the demands of a rapidly changing sector.
3-MONTH PROJECT COST: $20,000
INDUSTRY PARTNER UPFRONT COMMITMENT: $20,000
AUSTRALIAN GOVERNMENT REBATE: $18,000
MTPCONNECT SUBSIDY CONTRIBUTION: $2,000
NET COST TO BUSINESS: $0
Project cost includes a $3,000 monthly student scholarship, a one-off $5,500 academic mentor fee and a one-off $5,500 project management fee.
3 month project normally $20,000; $0 net cost with rebate and MTPConnect subsidy
4 month project normally $23,000; $0 net cost with rebate and MTPConnect subsidy
5 month project normally $26,000; $0 net cost with rebate and MTPConnect subsidy