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News & Trends - MedTech & Diagnostics

$8M funding for development and commercialisation of medical devices

Health Industry Hub | December 21, 2020 |

MedTech News: Applications are open for round 9 of the NSW Government’s Medical Devices Fund. More than $8 million in competitive funding is available to support investment in the development and commercialisation of medical devices, and related technologies.

The Fund will support products across a range of applications, throughout the medical device product life-cycle.

The Fund aims to provide support to companies, medical research institutes, universities, individuals, public and private hospitals, and the medical devices industry to take local innovation to market. It also seeks to increase the uptake of NSW medical devices by the health system where they are cost effective and contribute to improved patient outcomes.

Funding can be used for proof-of-concept, prototyping and piloting studies; manufacturing samples for product trials; conducting market and product assessments; engaging a consultant to locate other national and international trials and research relevant to the product under development; and conducting clinical assessments.

Since its launch in 2013, the Fund has provided over $55 million to 35 technologies; some past recipients have later gained high-profile investors. The technologies have now treated over 47,000 patients and are delivering better patient outcomes for NSW.

An online webinar for the Fund will be held in late February 2021, with further webinar details and registrations opening in the new year.

Applications are called for once a year, and there is a two-stage application process. Preliminary applications close on Monday 1 March 2021 at 5.00 pm.

Read more the eligibility and selection criteria, and apply here.


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