In this report, L.E.K. summarises research conducted from September to December 2023 to determine the economic impact of two key programs, ANDHealth+ and Masterclass: ACCELERATE, introduced into the Australian digital health sector by ANDHealth.
ANDHealth+ and Masterclass programs provide Australian digital health start-ups with access to non-dilutive investment, alongside highly specialised industry mentoring and support, to enable companies to successfully navigate critical clinical and commercial milestones resulting in significant value creation and growth. Masterclass is focused on providing access to experts with demonstrable, real-world experience in commercialising digital health technologies in a curriculum-based format, whereas ANDHealth+ offers company-specific advisory services to improve the readiness and appeal of each company to institutional investors and enterprise customers. The two programs initiatives are directed at SMEs in the digital health sector and have delivered substantial benefits to their participants, and to the broader industry and Australian economy across a range of metrics. These include capital raising, revenue performance, numbers of patients impacted, jobs created, clinical trials undertaken and successful entries into international markets.
Our research shows, both ANDHealth+ and Masterclass have proven their effectiveness and economic impact as enablers of growth in the digital health and broader health technology sector. Since their inceptions, both programs have performed strongly against a wide range of different measures. ANDHealth+, through its deep specialisation, industry-led model, mentoring support and links to investor and enterprise customer networks, has been instrumental in enhancing the growth prospects of its various participant companies, while Masterclass’ knowledge-based programs have enabled participants at the very beginning of their growth journey to move confidently into the next stage of their development.
Read the full ‘Economic impact assessment of ANDHealth+ and Masterclass: ACCELERATE programs’ report here.
About ANDHealth
ANDHealth is a non-profit organisation with a unique industry-led approach which provides Australia’s nascent and growing digital health sector with commercialisation and investment readiness education, non-dilutive investment and highly specialised services and support to help them successfully commercialise their products and services. It was established by a consortium of commercial and government partners and is the only commercialisation, incubator and accelerator organisation specifically targeting Australia’s digital health start-ups/SMEs.
L.E.K. Consulting is a registered trademark of L.E.K. Consulting LLC. All other products and brands mentioned in this document are properties of their respective owners. © 2024 L.E.K. Consulting LLC
03012024160356