"Australia has long been a global leader in research, yet our biotech sector has not lived up to its full potential"

Australia's first true biotech incubator, Proto Axiom, has secured $20 million in the first close of its $30 million Series B round to strengthen the nation's biotech sector through greater IP retention. Anthony Liveris, CEO of Proto Axio discusses the incubator's selection criteria, identifying the most promising biotech trends for global health, and outlining the key strengths that make Australian biotech globally competitive. Edited excerpts:

- Ayesha Siddiqui

Can you provide insight into the selection process for ventures at Proto Axiom? What key factors determine which ideas or projects receive mentorship and funding?

We focus on supporting proof-of-concept research that is poised to reach key commercial milestones. Our primary criteria include groundbreaking research with a well-defined pathway to clinical development. We seek projects that demonstrate strong potential for real-world impact and align with our vision for advancing innovative healthcare solutions.

Could you highlight some of the main support services that you provide to your startups?