Recognised as a big, bold idea to improve the productivity, competitiveness and innovative capacity of Australia’s medtech, biotech and pharmaceutical sector
Thursday, 26 October 2017, Melbourne, Australia: MTPConnect – the Medical Technologies and Pharmaceuticals Industry Growth Centre – today announced it will provide a proposed $250,000 provisional funding to AMMRF (Now Microscopy Australia) Technical Voucher Fund over two years, with proposed matched funding of $250,000 coming from the sector. The funding will allow the AMMRF Technical Voucher Fund to fund vouchers to support medtech R&D by providing easy and discounted access to AMMRF microscopy services. It is designed to reduce barriers and provide industry with access to analytical tools and experts with problem solving capabilities. Solutions can be tailored to SME and large company’s specific research needs.
The project is led by the University of Sydney, and includes members of the AMMRF: an Australian national research infrastructure network with nodes at the University of Queensland, the University of Western Australia, the University of NSW, the University of Adelaide, the University of South Australia, the Australian National University and Flinders University. Microscopy is an underpinning technology that can give essential information to medtech industries. The AMMRFâs wide-ranging techniques can help solve problems relating to the structure, function and properties of molecules, cells and materials whether they are structural proteins, antibodies, drugs, drug delivery systems, biomaterials, alloys, ceramics, nanoparticles or polymers. The AMMRF provides all researchers in Australia with access to microscopy equipment, experts and services.
The proposed voucher fund will provide a low-cost, subsidised way for SMEs to access these facilities to allow industry to overcome the unfavourable cost:benefit ratio that usually prevents this infrastructure being available from within individual medtech companies. The scheme will also provide access to the expert technical help and sophisticated instruments in the AMMRF to help industries of all sizes to improve their innovative capacity and competitiveness. The fund will be open for applications from December 2017.
MTPConnect’s Project Fund Program is a competitive, dollar-for-dollar matched funding program investing in big, bold ideas to improve the productivity, competitiveness and innovative capacity of Australia’s medical technology, biotechnology and pharmaceutical sector. MTPConnect is supported by the Australian Government’s Industry Growth Centres Initiative.
This year, MTPConnect has selected 20 national MTP projects to receive $7.385 million in funding over two years with proposed matched funding of $15.2million coming from the sector. Last year, the launch of the program saw 14 projects receive $7.4 million in funding over two years, with matched funding of c.$32 million. Following the success of these projects, this year’s program received significant interest from the sector, with 33 applications from industry, research organisations and universities to share in the funding available, with a proposed $25.8 million of matched funding coming from the sector.
Sue MacLeman, CEO of MTPConnect, said, “MTPConnect is focused on harnessing Australia’s world-class research to seize more commercialisation opportunities and accelerate growth. As part of our mission, we are funding big, bold ideas that will deliver results on a national scale, have sector-wide impact, and are aligned with the Sector Growth Priorities we have identified in our 10-year Sector Competitiveness Plan. By supporting project such as the AMMRF Technical Voucher Fund, we believe we can develop a more vibrant MTP sector ecosystem with more successful companies, and ultimately improve the health and wellbeing of Australia and the world.”
Prof. Julie Cairney, CEO of the AMMRF, said, “I’m thrilled to have this opportunity to support the Australian Medtech industry through subsidised access to the AMMRF microscopy and expertise based at universities across the country. Our powerful technologies can provide essential information to businesses to help them on their innovation journeys. We are particularly looking forward to working with start-ups and SME’s to find individualised solutions to their problems.”
For more information on MTPConnect’s Project Fund Program and the successful applicants, visit: https://www.mtpconnect.org.au/
MTPConnect was formed as an industry-led independent not-for-profit organisation in November 2015 as part of the federal government’s Industry Growth Centres Initiative to accelerate the rate of growth of the MTP sector to achieve greater commercialisation and establish Australia as an Asia-Pacific hub for MTP companies.
The MTPConnect Head Office is located at the New Horizons Building at Monash University, co-located with CSIRO and industry. There are also key hubs at the University of Sydney’s Institute of Biomedical Engineering and Technology and the Medical Device Research Institute at Flinders University at Tonsley in Adelaide.
AMMRF Technical Voucher Fund
Dr Jenny Whiting
+61 02 9114 0566
Corporate Communications Manager, MTPConnect
+61 417 267 739