The BioMedTech Horizons program will provide $5M in 2017-18 to help Australia move more cutting-edge ideas and breakthrough discoveries towards proof-of-concept and commercialisation.
Wednesday, 1 November 2017, Sydney, Australia—MTPConnect – the Medical Technology, Biotechnology, and Pharmaceutical (MTP) Industry Growth Centre – will today open expressions of interest for the Australian Government’s $5 million BioMedTech Horizons program, an initiative to support innovative and collaborative health technologies that address key health challenges.
The BioMedTech Horizons program will provide $5 million in 2017-18 to help Australia move more cutting-edge ideas and breakthrough discoveries towards proof-of-concept and commercialisation. The program is being delivered as a part of the Australian Government’s $20 billion Medical Research Future Fund, which aims to transform health and medical research to improve lives, build the economy and contribute to health system sustainability through targeted strategic investment.
Sue MacLeman, Managing Director and CEO of MTPConnect, said that the program will provide welcome support to the sector, particularly for SMEs.
“The BioMedTech Horizons program will provide funding essential to increase the number of biotechnology and medical technology innovations that can reach the proof-of-concept stage and obtain proof-of-concept status, overcoming the key barriers in significant areas of unmet clinical need.
“The program will also assist in increasing investment to progress through pre-clinical and clinical trials, therefore increasing the likelihood of commercialisation.
“MTPConnect is delighted to have been charged with the delivery of this important program, and we have no doubt that it will have great positive impact not only on the growth and development of the sector, but the health of Australians into the future.”
Minister for Health, the Hon Greg Hunt MP, said, “MTPConnect will deliver this exciting grant opportunity that is set to stimulate collaboration between the research, industry and technology disciplines in the Australian medical technology and biotechnology sector.
“The BioMedTech Horizons program will foster the development of technologies that have the potential to transform and customise healthcare for all Australians, contributing to health system sustainability and economic growth, in line with MTPConnect’s priorities addressing key barriers and health challenges to take the Australian MTP sector to the next level.”
The BioMedTech Horizons program aims to stimulate collaboration across disciplines and between the research, industry and technology sectors to maximize entrepreneurship and idea potential. Investments from the program will be focused on precision medicine and 3D anatomical printing, as innovative technologies in these areas can play a key role in fostering the development of enabling technologies and improved health services and systems to address national health priorities.
Established as part of the Australian Government’s Industry Growth Centres Initiative, MTPConnect aims to accelerate the growth of the MTP ecosystem in Australia by working with the sector to increase its competitiveness, productivity and innovative capacity. MTPConnect was chosen to administer and facilitate the delivery of funding for the program due to its proven fund management experience through the MTPConnect Project Fund Program, and established cross-sectoral networks and connections, providing the ability to rapidly identify and invest in new technologies.
Expressions of interest will be open to the MTP sector from 1 November 2017 until 10 December 2017, followed by a targeted application process with eligible proposals that will be open until early 2018.
For more information and EOI forms, visit www.mtpconnect.org.au/biomedtechhorizons.
