NSW Medical Devices Fund (MDF)
This program aims to promote new and innovative medical devices/technologies within NSW that may have a global benefit.
The objectives of the program are to:
- Provide support to individuals, companies, public and private hospitals, medical research institutes, universities, other public sector research organisations, and the medical devices industry, to take local innovation to market.
- Increase the uptake of New South Wales (NSW) medical devices by the health system where they are cost effective and contribute to improved patient outcomes.
Grants between $50,000 and $5 million are available, depending on the product’s stage of development over a period of one year to three years.
A total funding pool of $7.8 million is available in 2016-17.
The application process has three stages::
- Online self assessment (to be completed prior to completing preliminary application): Opened on 25 November 2015
- Preliminary application: Opened on 10 December 2015 and closed on 12 February 2016
- Full application (by invitation only): Opened on 2 May 2016 and closes on 10 June 2016
Who Can Apply
Eligible applicants include NSW organisations with innovative medical devices/technologies supported by intellectual property including:
- Public and private hospitals
- Medical research institutes
- Established SMEs
Eligible applicants must:
- Be a financially viable company or commercial enterprise with a current or proposed connection in NSW (eg. location of manufacturing jobs, headquarters based in NSW, NSW investment, new research lab established in NSW).
- Be able to provide evidence that the proposal connects and benefits NSW.
- Have an Australian Business Number (ABN).
- Typically have an annual turnover of less than $25 million.
- Be a legal entity or an individual who agrees to form such an entity so that NSW government can enter into legally binding funding agreements.
- A NSW public research organisation applying through their appropriate technology transfer office, or the CEO or equivalent of the research organisation.
Eligible activities include:
- 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.
- Conducting clinical assessments.
Eligible projects must:
- Be capable of potentially improving patient care and/or health wellbeing.
- Be capable of potentially generating, economic, social and/or environmental benefits to NSW.
- Satisfy the definition of a medical device.
- Seek to progress a medical device along the commercialisation pathway.
- Be innovative (i.e. new to market, or new to world).
- Have the potential to assist health delivery in NSW.
- Have been developed in NSW and derive health, economic, social and/or environmental benefit to NSW.
The program will have sufficient flexibility to tailor funding support according to what it believe is required to assist the development and commercialisation of a medical device.
Main Assessment Criteria
The main assessment criteria include the extent to which the application meets the following:
- A NSW-based organisation supportive of the technology applying for funding.
- The organisation’s interest/involvement in the opportunity must have initially been derived from the activities of their researcher(s)/employee(s).
- The organisation must benefit from the MDF investing in the opportunity. However, the benefit need not be financial.
- The organisation researcher(s)/employee(s) to have some ongoing role in the development of the technology.
- The organisation will derive financial benefit if the technology is commercialised.
- The organisation receiving some of the funding to complete project activities.
- The organisation will gain recognition/kudos if the technology is commercialised and will benefit from publications relating to the work to be funded.
- Demonstrate the potential State, national and/or international significance of the medical device and show how it will improve people’s health and well-being.
- Demonstrate how the medical device will potentially deliver economic, social and/or environmental benefits for NSW.
- Demonstrate how the medical device will result in improved:
a) Clinical outcomes
b) Practice efficiency or effectiveness
c) Ease of use
|Application Form - Preliminary||May 2016||Download
|Applicant Instructions - Preliminary ||May 2016||Download
|Use these documents as a guide only - always get the latest direct from the Administrator
25 October 2015
25 November 2015
12 February 2016
This program is available annually. Please see Overview for closing details.
Healthcare, Medical, Biotechnology and Nanotechnology
Infrastructure / Equipment
Innovation and R&D
Start-up / Establishment
NSW Ministry of Health
Office for Health and Medical Research (OHMR)