Investor Updates
Medical Devices fund to boost R&D in Australia
20 September 2012
The New South Wales (NSW) State Government has announced the establishment Australia’s first Medical Devices Fund to support research, commercialisation and investment in the field.
In its first year, the fund will make A$8 million available to innovative individuals, public and private hospitals, medical research institutes, universities, and organisations within the medical devices industry.
From 2013/14 onwards, the government will commit A$5 million annually to support the discovery, application and commercialisation of new medical treatments, diagnostic techniques, technologies and devices.
Announcing the fund this month, NSW Minister for Medical Research, Jillian Skinner, said the initiative would encourage investment in innovative medical research and lead to significant advancements in patient care and outcomes.
“This fund will foster the design and development of medical devices while also promoting their potential uses and benefits,” Mrs Skinner said.
“I’ve been blessed to have been with families when their child’s cochlear implants were turned on for the first time… It’s these kinds of life-changing innovations that we want to see created, developed and supported through the Medical Devices Fund.”
Applications for the NSW Medical Devices Fund are now open; preliminary applications close on 10 October 2012.
More information