The McGowan Government today announced $13.3 million in funding to establish a health and medical ‘innovation hub’ in Perth.
The hub was a 2017 election commitment which now forms part of the WA Recovery Plan from COVID-19.
To be located within walking distance of the East Metropolitan Health Service’s (EMHS) Royal Perth Hospital campus, the hub is being developed to provide an environment for closer interaction between clinicians, patients, innovators, and innovation funders.
The RPH Synapse Innovation Hub (or just ‘Synapse 74’) has been named in reference to the connection and ‘meeting of the minds’ at 74 Murray Street, adjacent to the RPH campus.
Creation of such an environment has been critical for the success of innovation hubs in multiple industries worldwide.
The objective of Synapse 74 is to provide a stimulating environment where entrepreneurs and innovators in healthcare come together with a health-related idea or concept that they want to translate into a commercial entity. It will leverage a strong culture and tradition of innovation at RPH.
The hub will provide significant opportunities for mutually beneficial partnerships with research organisations, universities, private industry and other healthcare providers.
Synapse 74 will also provide the opportunity for EMHS and WA Health to work with a variety of stakeholders to tackle important problems and challenges within the healthcare sector and develop the most innovative, patient focused and cost-effective solutions possible.
Furthermore, it will provide shared working spaces and services for start-up and established collaborative medical research organisations to form a nucleus of innovation within the RPH precinct.
A bonus will be the retention of talent, innovation and intellectual property within EMHS and the wider WA public health sector.
Planning, scoping and documentation will start within the next few months and construction is anticipated by late 2021.
The State Government has also committed to diversifying the WA economy through the New Industries Fund and DiversifyWA, which recognises that innovation drives growth and creates new industries.
As stated by Health Minister Roger Cook:
“The McGowan Government is committed to ensuring the ongoing delivery of high-quality, future-focused healthcare.
“It is vital that all Western Australians can access state-of-the-art healthcare and Western Australia – despite our geographical isolation – continues its reputation for leading global research and technology.
“Capitalising on its exceptional health care and research capability and its location as Perth’s only inner-city healthcare precinct, RPH is well placed to host a dynamic hub for innovation in healthcare.
“With limited start-up opportunities for new medical innovation organisations in WA at present, there has been less opportunity to collaborate with technology and commercial ventures within health settings.
“Establishing Synapse 74 will provide a boost to our innovation ecosystem and is a step to ensuring that our brightest minds don’t need to resort to working up their ideas outside of WA. Increasing opportunities for health innovation is another way the McGowan Government is working to provide sustainable and world leading healthcare for Western Australians, and will boost jobs and further bolster our economy.”
