The Australian government awarded nearly AU$100 million (US$64.6 million) in grants to three biopharma and med-tech incubators aimed at fostering emerging startups. These incubators will uplift small and medium enterprises by accelerating medical innovation commercialization within Australia’s growing life sciences ecosystem. The funding supports infrastructure and programmatic development designed to stimulate innovation, investment, and talent growth across biotechnology and medical technology sectors, complementing broader national efforts to boost research, development, and commercialization capabilities.