A funding of A$ 2million, which will cover two years, will be given to Victorian Medical Device Partnering Program (MDPP), which is led by the Swinburne University.
The funding will be used to augment the development of the medical device industry in the state of Victoria, according to a recent report.
LaunchVic, the state government agency charged with growing the Victorian start-up ecosystem, will be releasing the funds.
The Victorian partnership brings together Swinburne with CSIRO, the University of Melbourne, Monash University, RMIT University, Australian National Fabrication Facility (ANFF) and BioMedical Research Victoria.
It leverages on the proven model and processes developed and implemented in South Australia by Flinders University across 10 years.
This is a significant first step in national expansion that will deliver significant benefits not only to South Australia and Victoria, but will add impetus to medical technology research in Australia as a whole.
The MDPP at Flinders University has created a streamlined model for early-stage medtech development in the past decade.
This exciting and strategic expansion reinforces the strong foundation of expertise that has been established in South Australia.
The establishment of a sister entity is a wonderful way to mark the 10th anniversary of MDPP. It will add critical mass to the efforts exerted in South Australia, and is an important step in delivering benefits to the sector in Australia more broadly.
A Professor of Biomedical Engineering at the University and also a CSIRO Research and Science Leader in Biomedical Manufacturing will be taking up the position of Regional Director of MDPP in Victoria.
The prospects for Victoria are exciting as it does not only connect the stakeholders in the medtech sector, but it is also creating new ventures and employment opportunities for the State.
The State boasts of excellent research expertise and an entrepreneurial clinical community. With the addition of MDPP, there will be a vehicle that will connect the medtech ecosystem, untap ideas and rapidly progress new product opportunities.
MTP Connect and the Growth Centres Initiative are supporting the national expansion of the MDPP. The Program has been busily engaging across the country for the past 12 months.
It held workshops in Victoria, New South Wales, Queensland and Western Australia, as well as internationally when it went to Singapore.
The team is passionate about supporting the development of the medical device industry and working with a wide range of stakeholders who can achieve that.
Recruitment will begin soon for the Victorian-based team of MDPP. Its official opening is anticipated to happen in early 2019.