Mobilising capital to help Australian health innovation scale

Australian health and medtech innovation has enormous potential, but too often the pathway from early promise to global scale remains difficult to navigate. HESTA’s anchor investment in Synthesis Capital marks an important step in strengthening the capital pathways, specialist support and ecosystem conditions needed to help high-potential ventures grow. 

Synthesis Capital has been established as an integrated investment platform focused on early-stage deep health technology. The platform brings together capital, venture-building capability, sector expertise and global networks to support high-potential companies translating breakthrough health technologies into global markets. 

For the Menzies Leadership Foundation, this announcement is significant because it demonstrates the kind of systems entrepreneurship Australia needs more of: connecting leadership, specialist expertise, trusted networks and aligned capital to help innovation scale. 

Since 2018, the Foundation has supported science entrepreneurship through its partnership with MedTech Actuator, helping researchers, clinicians and emerging health innovators build the capability, confidence and networks required to move ideas towards real-world impact. This work has always been about more than individual ventures. It has been about strengthening the ecosystem around innovation so that promising ideas are not left to navigate complex pathways alone. 

Synthesis Capital represents an important next step in that ecosystem-building journey. 

Across Australia and the Asia-Pacific, exceptional health and medtech innovation is emerging from hospitals, universities, research institutes and founder-led companies. Yet many ventures still face a familiar challenge: the gap between breakthrough science, specialist expertise and the capital required to reach commercial scale. 

The Foundation has played a catalytic role in helping create the conditions for this next phase —by providing capital, supporting leadership development, backing ecosystem capability, convening partners, and helping open routes to further capital and scale.  

We believe This is where philanthropy can play a powerful role: not by acting alone, but by helping connect the actors, infrastructure and confidence needed for systems to shift. 

HESTA’s anchor investment provides significant institutional validation for this approach. It signals confidence in the quality of Australia and Asia-Pacific’s health innovation pipeline, and in the role specialist investment platforms can play in helping early-stage companies grow. 

Menzies Leadership Foundation CEO Liz Gillies said the announcement reflects the importance of building the conditions around innovation, not just celebrating individual breakthroughs. 

“Health and medtech innovation does not scale through talent alone. It requires connected systems — leaders who can navigate complexity, investors who understand long-term value, and partnerships that help ideas move from promise to impact,” Ms Gillies said. 

“This is a powerful example of systems entrepreneurship in action. It shows what becomes possible when catalytic capital, capability and connectivity are brought together around a shared purpose.” 

The announcement also reflects a broader shift in how complex challenges must be approached. If Australia is serious about translating research, science and clinical insight into globally relevant solutions, then capital pathways, leadership capability and ecosystem infrastructure need to be developed together. 

That has been central to the Foundation’s role, helping build the connective tissue between people, institutions and capital so that promising innovation can move beyond isolated success and towards broader public value. 

The Synthesis Capital announcement is a timely reminder that Australia has deep capability in health and medtech innovation. The opportunity now is to ensure the systems around that capability are strong enough to help it scale. 

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To learn more about the announcement, read the Australian Financial Review article: HESTA backs new $70m venture capital fund to hunt medical tech stars. 

At the Menzies Leadership Foundation, we exist to build the connective tissue between people, institutions and capital that makes this kind of systems change possible. If you are a leader working at the intersection of health innovation, investment and impact — or an organisation committed to strengthening Australia’s innovation ecosystem — we invite you to explore how the Foundation’s work and networks can support what you are building.

To learn more about the Foundation’s role in supporting science entrepreneurship and health innovation ecosystems, including our partnership with MedTech Actuator, we invite you to connect with us and stay engaged with the work we are doing to help promising ideas move from breakthrough to broader public value.

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Natasha Eskinja

Digital Communications Coordinator

Natasha is driven by a profound passion for both creativity and analytics, a synergy that fosters authentic storytelling in the digital realm with both innovation and integrity. 

Throughout her career, she has consistently integrated the overarching marketing and communications narrative with the emotional connections of audiences. She is currently pursuing a Certificate in Society and the Individual from Flinders University, furthering her exploration of human behaviour and the critical importance of connectedness between organisations, individuals, and communities.

LinkedIn | natasha.eskinja@menziesfoundation.org.au

Sarah Jenkins

Strategic Communications Manager

Sarah has more than 18 years’ experience in communications and marketing leadership across a range of sectors.

Communications strategy and organisational growth is a continuing theme in Sarah’s career. Most recently, she leads the development of a Leadership Movement, evaluated by Menzies Viral Co-efficient Model; a contribution to the NFP. 

Sarah’s early career centred around best practice in marketing and communications which later culminated into the establishment of her very own agency. This work extensively spanned across PR, traditional media, event management, strategy, digital marketing, graphic design and business development consultancy. 

In 2019, Sarah joined the lean and robust team at the Menzies Foundation. She has since crafted the Foundation’s narrative and communication strategy. The development of this strategic communications platform is essential for ‘movement building’ and requires a strong strategic, management and communication skills set. Sarah has brought so much to this important work, which sits at the forefront of communication practice. 

Sarah continues to contribute to the NFP sector through her commitment to Purpose; as she reflects on her own leadership, builds her own leadership capability and contributes to the greater good. 

LinkedIn | sarah.jenkins@menziesfoundation.org.au | 0401 880 071

Rohan Martyres

Director, Strategy and Partnerships

Rohan has 15 years’ experience in facilitating cross-sector collaborations to address complex social and health challenges.  He has worked with the World Economic Forum in Australia, led an international conflict resolution field team in Nepal, and directed a 10-year £40m initiative to reduce health inequity in London.

Most recently, Rohan was Major Grants Development Manager at the Ian Potter Foundation.  He refined the foundation’s major grants strategy, and co-developed a series of large scale initiatives, including joint philanthropic-government funding for a new national organization to support place-based approaches across Australia.

Rohan has held several non-executive roles, including with an international NGO and with London Funders, the peak body of independent foundations in London.  He holds several qualifications including a graduate degree in innovation and strategy from the Judge Business School, University of Cambridge.

When Rohan isn’t exploring Melbourne’s creeks with his partner and 6yo daughter, he’s working on his currently weak Australian accent (after 15 years in the UK).

LinkedIn | rohan.martyres@menziesfoundation.org.au | 0404 505 954

Trudy Morrison

Operations Manager

A marketing and communications specialist with over 20 years experience in government, corporate and consumer marketing, Trudy brings her adaptive and organisational project management skills to the Menzies Foundation team. 

With a BA degree in Public Relations, Trudy began her career with the City of Melbourne and in magazine publishing, before moving into marketing communications consulting. She has worked in strategic marketing leadership roles with retail brands and enjoys juggling many projects and tasks simultaneously. Her skills were further enhanced when managing her own communications business representing industries across private education, financial services, aviation, government and the health industry. 

Trudy is passionate about leadership and all people being encouraged to reach their full potential through research and educational initiatives and opportunities throughout Australia. A skilled and accomplished writer and editor Trudy is enthusiastic about bringing her variety of skills to the Menzies Foundation team. 

LinkedIn | trudy.morrison@menziesfoundation.org.au | 0402 361 878

Liz Gillies

Chief Executive Officer

Liz Gillies has had over 25 years experience in a range of fields focused on initiatives for social impact. She has held roles in multiple sectors and academia.

In 2018, Liz was appointed CEO of the Menzies Foundation which aspires to build a leadership movement that supports Australians to pivot to purpose, build their leadership capability and contribute to the ‘greater good’.

Liz joined the Melbourne Business School in 2009 and was instrumental in establishing the Asia Pacific Social Impact Centre (APSIC) and The Centre for Ethical Leadership. In November 2011 she was appointed as research fellow to lead a partnership focused on strategic philanthropy which culminated in the release of the reports: Philanthropy: Towards a Better Practice Model (2018) and the Philanthropy: The Continued Journey to Real Impact and better Practice (2021).

Liz has extensive governance experience, having served on the Board of the Publish Galleries Association of Victoria, Social Firms Australia, Uniting Care Community Options, United Way Australia and the Development Committee of the Towards a Just Society Foundation. She is currently on the Philanthropy Reference Group of Barmal Bijiril and a Director of Philanthropy Australia.

LinkedIn | liz.gillies@menziesfoundation.org.au | 0416 112 703

Natasha Eskinja

Digital Communications Coordinator

Natasha is driven by a profound passion for both creativity and analytics, a synergy that fosters authentic storytelling in the digital realm with both innovation and integrity. 

Throughout her career, she has consistently integrated the overarching marketing and communications narrative with the emotional connections of audiences. She is currently pursuing a Certificate in Society and the Individual from Flinders University, furthering her exploration of human behaviour and the critical importance of connectedness between organisations, individuals, and communities.

natasha.eskinja@menziesfoundation.org.au