Unlocking science for the greater good requires more than innovation. It demands leadership, trust, and systems-level thinking.
When we first came together in 2020 to launch the MedTech Actuator Menzies Fellowship and Scholarship programs, the question wasn’t simply how to help scientists commercialise their research. It was broader and deeper: how can we prepare a generation of science entrepreneurs to lead with purpose in a system not yet built for them?
This whitepaper, Unlocking the Potential of Science Commercialisation: From Training to Systemic Change captures what we’ve learned across four years of collaboration. And it reinforces a simple truth: real transformation happens when capability meets community, when talent is supported by trust, and when science and leadership walk hand in hand.
THE PARTNERSHIP: MORE THAN PROGRAM DELIVERY
At its core, this collaboration has been about blending two distinct but complementary perspectives:
- MedTech Actuator, with its deep roots in health innovation and entrepreneurial acceleration
- Menzies Leadership Foundation, with a 45-year legacy of cultivating purpose-driven leaders for the greater good
Together, we designed and delivered high-impact capability-building programs that supported 40 Scholars and 4 Fellows early- and mid-career researchers from across the country on their journeys from lab bench to leadership.
We didn’t just teach commercialisation; we nurtured confidence. We didn’t just connect participants to mentors; we embedded them in a community. We didn’t just deliver a curriculum; we built a culture.
WHAT WE SAW WORKING IN THE SYSTEM
There’s no shortage of exceptional talent in Australia. Our scholars and fellows came from every corner of the country and represented disciplines as diverse as AI-enabled diagnostics, respiratory health, cell therapy, neurogenetics, and women’s health.
What set them apart and what became a hallmark of the program was not just their scientific expertise but their readiness to lead:
- To make decisions under uncertainty
- To build cross-sector relationships
- To carry their research forward not as individuals, but as stewards of something larger
We also saw firsthand how targeted support can catalyse extraordinary progress. From prototypes to production runs, and from pitch nights to published ventures, the right mix of mentorship, access, and belief in potential unlocked measurable results:
- 1,028+ hours of engagement | 16+ startups launched | A national footprint with global traction
WHERE THE SYSTEM STILL FALLS SHORT
But let’s be honest: this journey hasn’t been smooth sailing. As our participants navigated the system, they encountered persistent barriers, a lack of patient capital, fragmented pathways, and rigid institutional structures that don’t always recognise or reward entrepreneurship.
Despite strong program outcomes, the ecosystem remains siloed, duplicative, and risk-averse. In our whitepaper, we call this out directly and propose ways forward. We highlight three core enablers that must be strengthened:
- Capital – not just more, but smarter, longer-term capital tailored to health tech timelines
- Connectivity – stronger, more purposeful links between academia, startups, and industry
- Capability – real-world, practice-based development that equips scientists to thrive outside traditional academic structures
To move from individual wins to systems change, these conditions must shift and they require cross-sector coordination, not just programmatic activity.
LOOKING AHEAD: OUR SHARED VISION
What this collaboration has proven is that when leadership and innovation align, change becomes possible, not just within individuals, but across an entire ecosystem.
Our hope is that this whitepaper becomes a blueprint, for government, for research institutions, for investors, for those building the next generation of health ventures. It offers more than a reflection; it extends a challenge:
What kind of ecosystem are we willing to build to ensure our brightest ideas become real-world impact?
We believe Australia has the talent. We believe we have the tools. Now, we need the will to lead together.
Thank you to every Scholar, Fellow, mentor, partner, and team member who helped shape this journey. We are proud of what we’ve built and even more excited for what’s next.
At the Menzies Leadership Foundation, we believe that scientific innovation is not just about discovery — it’s about translation, collaboration, and long-term impact.
Breakthroughs in research hold immense potential, but without the right leadership, that potential can remain untapped. We see leadership as the catalyst — the connective tissue that enables science to move beyond the lab, into systems, and into society.
That’s why we invest in the people behind the ideas: the scientists ready to lead, the thinkers ready to challenge convention, and the collaborators ready to drive change across disciplines and sectors.
Because the future of science isn’t just technical — it’s human.
And shaping that future demands a new kind of leadership.
We invite you to lead at the intersection of innovation and purpose.
