The Victorian Government will lead the establishment of the first ever Australian cardiovascular research accelerator, which will operate alongside the Victorian Heart Hospital to fast-track heart health therapies.
The $17.7 million Health Innovation Centre will be located at the Monash Technology Precinct in Clayton and will be a key developer of clinical products and therapies, cardiac technology and models of care.
The centre will feature research spaces, flexible office areas, collaboration spaces for industry and manufacturers and cutting-edge equipment including audio visual technology to help develop and commercialise products.
Importantly, it will put the invention of new heart health products in the hands of patients, healthcare professionals and companies by fostering collaboration and attracting investment. Monash University inventors and entrepreneurs will spin out companies to drive jobs and growth in Victoria.
The Heart Foundation research shows that cardiovascular disease accounts for a quarter of deaths, disproportionately affects Indigenous people, and costs the Australian economy $5 billion more each year than any other disease.
Works are expected to start this year, with the facility to open in early 2022. It will create about 160 construction jobs, alongside a further 150 jobs in manufacturing and health services – as well as attracting $50 million in new local and international investment.
The Government contributed $17.5 million to the project in a joint effort by Monash University. It was one of many pitches from universities to the Victorian Higher Education State Investment Fund, which was developed in response to the significant impact of the coronavirus pandemic on the sector.
The unprecedented $350 million Victorian Higher Education State Investment Fund is supporting universities with capital works, research infrastructure projects and applied research focused on boosting Victoria’s productivity and economy as the state recovers from the coronavirus pandemic.
The Government invested $150 million in the Victorian Heart Hospital which was the first of its kind in Australia and is home to the world’s best in cardiovascular care, research and training – revolutionising cardiovascular care.
As stated by Minister for Training and Skills Gayle Tierney
“Victoria is a leader in cardiovascular research – and this investment will create even more opportunities for locals and industry as well as the capability to develop life-changing therapies.”
As stated by Minister for Innovation, Medical Research and the Digital Economy Jaala Pulford
“Heart disease is one of the most prevalent health issues in our community, so building a world-class facility to tackle it and invent life-saving medical technology is a big win for patients and their families.”
As stated by Member for Oakleigh Steve Dimopoulos
“The Health Innovation Centre will connect with Australia’s first heart hospital and other local facilities – adding to the incredible ecosystem of health and research which benefits Victoria and Australia.”
As stated by Monash University President and Vice-Chancellor Professor Margaret Gardner AC
“This facility will enable Monash to deliver greater innovation in biotechnology, pharmaceutical and cardiovascular disease research, and deliver new products and services for better health outcomes for Victorians.”