MTPConnect has commenced the rollout of a new funding program to identify and nurture high-quality medical device projects with strong commercial potential.
The Clinical Translation and Commercialisation – Medtech (CTCM) program is a $19.75 million initiative funded by the Australian Government’s Medical Research Future Fund.
MTPConnect Managing Director and CEO, Dr Dan Grant, says the new funding program will offer financial assistance, educational support and infrastructure access to Australian small to medium-sized enterprises (SMEs).
“The CTCM program is a major boost for Australia’s medical device innovators – it’s all about supporting the commercialisation of home-grown medical devices by empowering SMEs to transform their ideas into life-changing devices,” Dr Grant said.
“By identifying new medical devices that have the potential to improve the health and wellbeing of Australians, and subsequently supporting their translation, the program will help ‘de-risk’ projects, making them attractive to private investment for the final steps towards commercialisation.