In response to the worldwide shortage of biostatisticians, Australia has established a national consortium of eight universities to develop and deliver a Masters program in biostatistics. This article describes our successful innovative multi-institutional training model, which may be of value to other countries. We first present the issues confronting the future of biostatistics in Australia, then relate our experience in establishing a new national consortium-based Masters program, and finally explore the extent to which our initiatives have addressed the current challenges of biostatistics workforce shortages. (Contains 1 figure and 1 table.)