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New funding to boost Australian medical tech innovations

Credit: Flinders University

The growing medical technologies and pharmaceuticals sector will be boosted by the A$ 22.3 million Biomedical Translation Bridge (BTB) program through the Flinders University-led Medical Device Partnering Program (MDPP).

As reported, the Biomedical Translation Bridge program will support the translation of Australian medical research projects through to the proof-of-concept stage.

The BTB program has a strong commercial imperative.

It drives the development of research initiatives aiming to improve the health of Australians, but also generate commercial returns to help create the high paying jobs of the future.

A key feature of the program is the provision of expert advice, education and mentoring to those preparing applications and those awarded funding.

The program, which is a part of the Federal Government’s Medical Research Future Fund, is MTPConnect’s third scheme.

MTPConnect explained

MTPConnect is already responsible for two schemes for the Federal Government. These schemes provide funding to 48 projects across the country.

Being awarded with this new and exciting health program is welcome recognition of their achievements and will be added to the aforementioned 48 projects.

The national MTPConnect program will offer funding up to A$ 1 million over three years to develop promising new therapies, health technologies and medical devices.

Partnerships involved

This was made possible through partnerships with the MDPP at the University’s Medical Research Institute two other national translation and commercialisation groups.

One of which is BioCurate, a joint venture between the University of Melbourne and Monash University. The second is UniQuest, through the drug discovery arm of the University of Queensland.

MDPP Director and the Director of the Medical Device Research Institute Professor Karen Reynolds shared that MDPP has a 10-year track record of successfully facilitating early-stage ideation and research for new medical devices.

The new BTB program will leverage their diverse connections and expertise to optimise the success of Australia’s medtech ventures.

The partners bring decades of industry-based experience and an enviable track record in research translation to the program.

How BTB works

By joining forces, a powerful partnership venture was created that brings national reach, industry capabilities and expertise and commercial know-how to the task of boosting translation of Australia’s health-tech research.

Successful applicants will receive hands-on guidance and mentoring and project management advice throughout the life of the program, leveraging the industry and commercialisation experience of the partners.

By ensuring every application receives support, the program will help build capabilities across the sector, not just within those organisations selected for funding.

Call for applications

The latest A$22.3 million program, which was announced by the Minister for Health Greg Hunt and the Minister for Industry, Science and Technology Karen Andrews will open calls for applications in 2019.

This will be accompanied by workshops in each capital city and in major regional centres such as Townsville, Newcastle, Wollongong and Geelong.

This will be done to build awareness and ensure a high number of quality applications are received.

Funding of between A$ 200,000 and A$ 1 million will be available for a period of up to three years. Applicants will be required to provide one-to-one matching funding to be eligible.

Additional rounds will be called every six months, with frequency in later years dependent on the number of applications re-applying and extent of residual funds.

Moreover, the BTB program will establish an expert selection panel that will assess, triage and select eligible ventures to be recommended to the Minister for Health for program funding.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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