The Clinical Translation and Commercialisation Medtech (CTCM) Program will open its second round in September 2022 seeking applications from small to medium-sized enterprises.
The program is funded under the federal government's Medical Research Future Fund (MRFF) with the goal of supporting emerging medical device companies.
It will provide funding from $250,000 to $1.5 million to accelerate eligible projects delivered over a maximum 24-month period.
Eligible projects must focus on the development of a medical device to diagnose, prevent, monitor, treat or alleviate a disease or injury, or modify or monitor the anatomy or physiological functions of the body.
Activities to be funded include, but are not limited to, prototype development and product testing, clinical trial activity and regulatory support.
MTPConnect CEO Stuart Dignam said this will be the final funding round of the CTCM program.
“We are looking to provide funding and support to projects where the device’s capability has already been validated with research and/or preclinical studies,” he said.
“Applicants will also be required to provide a cash co-contribution dependent on the total CTCM funding request, with additional in-kind or cash contributions above this threshold viewed favourably.
“The CTCM program was designed uniquely to leverage a national alliance of experts in the medtech sector. We are delighted to work closely with medtech partners: Medical Technology Association of Australia (MTAA), Cicada Innovations and Medical Device Partnering Program (MDPP), as well as infrastructure partner, Therapeutic Innovation Australia (TIA), and educational partner, QUT – The BridgeTech Program.
“So, in addition to financial support, applicants will be supported throughout the 24-month period with valuable educational support, consultation and access to critical engineering, fabrication and prototyping facilities to help accelerate translation of their medical device,” said Mr Dignam.
Expressions of Interests (EOI) for the second round of CTCM funding open on 9 September and will close on Friday 7 October.