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LX Health and QIC Sign Partnership to Accelerate HealthTech Growth

by | Feb 15, 2024 | Fund

LX Health and the Queensland Investment Corporation (QIC) have announced their partnership to support LuminaX, Australia’s leading HealthTech Accelerator through participation in the Queensland Venture Capital Development Fund (QVCDF) managed by QIC. 

This collaboration aims to back a majority cohort of Queensland-based startups, enabling them to become venture capital investment-ready, and provide access to Venture Capital Funds and other early-stage investors such as Antler, Main Sequence, and Mandalay over the next two years.

The new year brings LuminaX’s largest healthtech cohort yet, with up to fourteen slots available for Australian-based healthtech startups. The program is designed to accelerate the commercialisation of fourteen selected startups that are utilising technology to solve a problem within the healthcare sector. With the new partnership in place, LX Health looks forward to connecting startups with funding through the VCDF program and enhancing accelerator offerings.

QIC is a leading investor and institutional manager specialising in diverse global assets, managing over A$106 billion in funds across continents. The QVCDF, a Queensland Government program managed by QIC, aims to accelerate, develop, and enhance the venture capital industry in Queensland by investing in innovative early-stage QLD startups and attracting venture capital funds to the state. Through the QVCDF program, QIC is providing up to $100 million in matched funding to expedite, cultivate, and elevate the venture capital sector within the state.

Dren Xerxa, Director of LX Health, sees the partnership as a significant step for the HealthTech industry, nurturing new digital health companies that have the potential to scale globally and advance technology-enabled healthcare in Australia.

“Each startups understand the hurdles in securing funds or gearing up for investment. So, it’s incredible to see a program of this scale up and running in Queensland, and VCDF’s commitment to helping these startups in the LuminaX HealthTech Accelerator. This will result in positive health outcomes for the community at large, as well as significantly elevate the entire ecosystem for years to come.” – Dren

QIC joins City of Gold Coast, Mater and Griffith University as partners in the 2024 LuminaX Health Accelerator.

 

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2024 APPLICATIONS OPEN JAN 29 AND CLOSE MARCH 10 5:00PM AEST

LuminaX website: lxhealth.com.au

LX Health contact: janine@cohortspace.com.au

About LX Health

LX Health is ground zero for Australian healthtech startups. We support Australian HealthTech startups through a comprehensive strategy that encompasses the Accelerator, known as LuminaX, a dynamic and thriving community, and capital.