The Health Market Validation Program (Health MVP) is a $15 million competitive grants program that encourages innovation in healthcare.
Through the program, the Victorian Government is seeking solutions to healthcare challenges in order to achieve better health outcomes, improve healthcare service delivery and deliver economic benefits for Victoria.
The aim of the Health Market Validation Program
The Health MVP supports the pre-commercial development of innovative healthcare-related products, processes or services by Victorian small to medium sized enterprises (SMEs).
It links those in the public health sector who have identified a need with innovative Victorian SMEs that can develop technology solutions.
The program builds on an earlier pilot program with refinements, developed in consultation with the health industry sector, to effectively target health services. More about the pilot program at: www.business.vic.gov.au/mvp
What will the program deliver?
The program will provide innovative SMEs with opportunities to develop new health technology related products, processes or services to a validation point where they are ready for final-stage investment to reach the market.
These purpose-developed technologies will have the potential to deliver:
- improved healthcare and more productive healthcare service delivery (e.g. faster treatment times, reduced cost of treatment, reduced hospital stays)
- economic benefit for the State through supporting SMEs to bring products to market.
For Victorian public health sector organisations, the program provides support to collaborate with industry to develop solutions that will improve health or healthcare service delivery and reduce costs.
For SMEs, the program provides a new source of funding to develop products, processes or services and the opportunity to develop and validate new technology in response to a real customer demand. In so doing, it offers a sound position from which to secure further investment and commercial opportunities.
The Victorian community will benefit from improved public sector health service delivery and productivity, early access to new and innovative technologies with the capacity to improve the health and wellbeing of Victorians and more focused private sector R&D, leading to new business ventures and economic benefits.
Which health-sector agencies are eligible?
All Victorian health-service focused public sector entities are eligible to apply when the call for Technology Requirement Specifications is announced.
Eligible entities can include hospitals, health services, aged care providers, community health providers, ambulance services, and similar agencies.
Lead agencies, or a collaborating partner, must have an established clinical research governance mechanism and the capacity to trial the product or process during or after the funding period.
Which SMEs can apply?
Victorian-based SMEs may apply when the Call for Proposals is announced. Larger companies operating in Victoria or with R&D facilities located in Victoria may participate as non-leading collaborative partners. At least 80% of the R&D work must be undertaken in Victoria for the duration of the project.
The Health MVP involves a three-stage process.
November 2011: Technology Requirement Specifications
Victoria’s public health sector agencies are invited to identify specific problems that, if solved, are likely to result in significant improvement in the cost or delivery of healthcare services. During this stage, agencies can submit a Technology Requirement Specification (TRS) outlining the specific health sector problem and the anticipated benefits from addressing the need.
Early 2012: Call for Proposal
At the second stage, the Victorian Government will invite the SME market to propose new technology solutions to meet the need described in the TRS.
From late 2012: Feasibility Study and Validation
In stage three, SMEs that submit successful proposals will receive a grant of up to $100,000 to undertake a feasibility study, for up to 4 months. Successful feasibility studies may then be eligible for further funding of up to $1.5 million over two years in a validation phase to undertake the project R&D (including clinical trials) to progress towards market. Requests for funding above the levels specified may be considered on a case by case basis.
|Health Market Validation Program Flyer (PDF 350Kb)|
|A printable flyer with information on the Health Market Validation Program.|
Register to receive further information and updates “Health MVP – Registration of Interest.”