NSW Medical Devices Fund Established

NSW Government establishes Medical Devices Fund to encourage development and commercialisation of medical devices and related technologies in NSW.

The Medical Devices Fund (MDF) is a $5 million per annum, competitive technology development and commercialisation program funded by the NSW Government, through the NSW Ministry of Health. In the inaugural year, 2012-2013 financial year, the Fund has $8 million available.

The key objective of the MDF is to promote new and innovative medical devices/technologies within NSW that may have a global benefit. Broadly, the MDF aims to:

  • provide support to individuals, companies, public and private hospitals, medical research institutes, universities, other public sector research organisations, and the medical devices industry, to take local innovation to market; and
  • increase the uptake of NSW medical devices by the health system where they are cost effective and contribute to improved patient outcomes.

The MDF can be accessed by eligible NSW organisations with innovative medical devices/technologies supported by intellectual property.  Eligible organisations include public and private hospitals, medical research institutes, universities, start-ups and established SMEs.

The application process involves two stages; all applicants are required to complete a Preliminary Application Form (Stage 1), and if successful will be invited to submit a Full Application Form (Stage 2). Preliminary Applications close 10 October 2012.

Application details can be found here.

Full Applications (due 25 February 2013) require details of all relevant patent applications, searches and patentability evaluations.  Phillips Ormonde can assist you in preparing your application, please contact Alyssa Grabb or Daniel McKinley.