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 20 businesses in the medtech, biotech and pharmaceutical sector with the opportunity to take on a PhD student through a short-term research placement and benefit from an additional $10,000 subsidy to ease the cost. Facilitated by APR.Intern, the PhD research placements enable innovative businesses to engage with Australia’s brightest emerging research talent. For universities, the placements support the development of an industry-ready PhD workforce.
Businesses can also benefit from APR.Intern’s Australian Government 50% rebate. Together with the $10,000 MTPConnect REDI subsidy, this covers the entire net cost of a full-time 3-month research project.
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
UPFRONT COMMITMENT FOR THE BUSINESS: $20,000
GOV. REBATE TO BUSINESS: $10,000
MTPCONNECT REDI SUBSIDY: $10,000
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; $1,500 net cost with rebate and MTPConnect subsidy
5 month project normally $26,000; $3,000 net cost with rebate and MTPConnect subsidy