New Grants

The MedTech Market Growth Program will provide $50,000 matched funding to up to 20 medtech start-ups and scaleups to equip them with the skills, services and resources they need to push their life-saving products to market.

Deadlines and Timings

There are two rounds of application for this grant. Applications are open and will close on 20 March 2023. Shortlisting of applicants will happen on April to June, with invitations for full applications to be sent out sometime July 2023.

Round 1: Now open

  • Information Session: 07 March 2024 at 2–3PM (AEDT) via Zoom webinar
  • Round Closes: 08 April 2024 at 5PM (AEST)
  • Communications: Early May 2024
  • Contracting: Contract execution with recipients expected early May 2024

Round 2 launch: 09 April 2024

  • Round Closes: 06 May 2024 at 5PM (AEST)
  • Communications: Early June 2024
  • Contracting: Contract execution with recipients expected early June 2024

Overview and Grant Amount

This $1m Medtech program is expected to increase the pipeline of scaling medtech start-ups originating in Victoria by providing grants of $50,000 in 1:1 matched funding to help accelerate their pathway to market. From the grant amount, $48,500 (ex GST) will be a cash grant (equity free and non-dilutive) and $1,500 (ex GST) will support the cost of a LaunchVic Start-up Business Mentor that will be a professional Medtech mentor assigned by LaunchVic to the start-up. The Medtech Market Growth Program is customer-centric designed to help companies to:

  • accelerate or increase customer acquisition
  • accelerate pathways to market
  • create avenues for increasing revenue
  • drive economic growth in the Medtech market

Each grant will support eligible activities for up to 6 months, and applications will be accepted on a rolling basis until 30 June 2024 or until all funding is expended.

Eligibility and Criteria

To be eligible, applicants must:

  • be an entity start-up must meet the definition for “scaling start-up”
  • hold an Australian Business Number (ABN)
  • be registered for the Goods and Services Tax (GST), if required
  • be a company, trust, an Aboriginal and Torres Strait Islander Corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth), a partnership or a sole trader
  • have a business address in Victoria at the time of application
  • have at least 50% of its assets and employees must be located in Victoria
  • have a founder/CEO who has a primary residence in Victoria
  • adhere to the Victorian Government Policy on ESG Prohibited Activities

Eligible Projects

Eligible use of funds includes commercial activities and access to business and advisory services to enable scaling medtech start-ups to accelerate their pathway to market, acquire customers, build revenue, and drive the manufacture of medtech in Victoria. This can include:

  • Eligible advisory and business development services:
    • developing and refining go-to-market value proposition
    • analysis of the complex therapeutic pathways to global markets
    • pricing, reimbursements, and health economics analysis
    • regulatory approvals (domestic and international)
    • government procurement (domestic and international)
    • commercial product manufacturability
  • Eligible commercial activities can include:
    • Accessing facilities, capability, or services related to product development, manufacturing, research and/or market opportunities.
    • Travel that is directly related to increasing global customers, procurement, regulatory approvals, or commercial product manufacturability.
    • Hiring or contracting of new staff directly relevant to the project.

To be eligible for funding, such commercial, advisory, and business development services must be approved by the LaunchVic Start-up Business Mentor assigned to the start-up at the beginning of the program.

Ineligible activities include:

  • costs that are already funded or partially funded by government funding
  • usual operational expenditure, including existing staff costs, communications, entertainment, and office computing equipment
  • routine replacement or minor upgrade of plant and equipment
  • printing, stationery, postage, and bank charges
  • any amount paid on account of goods and services tax
  • costs related to preparing the grant application, preparing any project reports, and preparing any project variation requests
  • creating or adapting routine websites, sales and promotional activities, marketing, or communications campaigns
  • retrospective funding for activities that have already begun
  • LaunchVic reserves the right to determine eligible activities and expenditure in alignment with program objectives

Interested parties are encouraged to thoroughly read the program guidelines set by the funding grant. Submissions must be lodged through the program online portal.

Expert Assistance

We have over 16 years of experience preparing EMDG and R&D tax incentive claims and can assist in making sure you receive your maximum rebate.

Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.

Get in touch with us and let’s discuss this more in detail.

For information about other Australian Government Grants, visit Treadstone New Grants page and sign up to our newsletter!

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