$50,000 matched funding to up to 20 medtech startups and scaleups working on medical devices and diagnostic products to push their life-saving products to market.
Current status of program
CLOSED
To register your interest in future rounds or discuss alternative grant opportunities please contact us here.
On this page you will find
What is the Medtech Market Growth Program (MMGP)?
LaunchVic is partnering with the Australian Medtech Manufacturing Centre (AMMC) in the Department of Jobs, Skills, Industry and Regions (DJSIR) to increase support for Scaling Medtech Startups from across Victoria by providing grants of $50,000 in 1:1 matched funding to help accelerate their pathway to market. The $1m program is expected to increase the pipeline of Scaling Medtech Startups originating in Victoria.
The grant program will provide matched funding to assist Scaling Medtech Startups to accelerate market growth by funding commercial activities and business and advisory services so that the Startups can continue to build their businesses, grow jobs, and support Victoria’s economic growth.
MMGP level of support
Grants
- Grants of $50,000 in 1:1 matched funding
MMGP important dates
- This program is currently closed
- Register your interest here with GrantHelper
MMGP objectives
The Medtech Market Growth Program is customer-centric designed to help companies:
- Accelerate or increase customer acquisition
- Accelerate pathways to market
- Create avenues for increasing revenue
- Drive economic growth in the Medtech market
Activities and expenditure eligible for MMGP support
Eligible use of funds include commercial activities and access to business and advisory services to enable Scaling Medtech Startups 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, can include the provision of advice in the following areas:
- 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 Startup Business Mentor assigned to the Startup 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.
See the guidelines for full details of activities and expenditure eligible for MMGP support.
Other MMGP important details that you will need to know
Organisations eligible for MMGP support
Applicants must satisfy the following eligibility criterion:
Scaling Medtech Startup – The applicant entity Startup must meet the definition for “Scaling Startup” and have its principal business activity fall within the definition of “Medtech” industry, each as defined above.
Be a registered Business – A registered business is defined as:
- holding an existing Australian Business Number (ABN) at the time of application and continuing during the program
- if required, being registered for the Goods and Services Tax (GST)
- being one of the following entities:
- a Company registered under the Corporations Act 2001 (Cth)
- an incorporated trustee on behalf of a trust
- an Aboriginal and Torres Strait Islander Corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006(Cth)
- a partnership
- a sole trader.
Be based in Victoria
- Applicant’s ABN registration must record its place of business as being an address in Victoria at the time of application.
- At least 50% of its assets and employees must be located in Victoria.
- The founder/CEO must be a person that has a primary residence in Victoria.
- The activities proposed for grant funding must be to develop a manufactured Medtech product, where the intention is for the Medtech product to be wholly or partially manufactured in Victoria.
Adhere to Victorian Government Policy on ESG Prohibited Activities – The Applicant Startup must not be funded by, or otherwise associated or connected with any activities in:
- Tobacco or tobacco-related products;
- Cluster munitions and other controversial weapons;
- Thermal coal;
- Gambling;
- Logging of old growth forests;
- Uranium;
- Unregulated animal testing;
- Live cattle and/or sheep exports; or
Grant Amount – Applications for $50,000 only are eligible.
Matched Funding – Application must include at least $50,000 in cash contributions by the startup.
Use of Funds – The grant must only be used on proposed activities within the scope of the Use of Grant Funding outlined below.
See the guidelines for full details of organisations eligible for MMGP support.
MMGP assessment criteria
1. Business overview
- Provide an overview of the Medtech Startup including a description of the problem being solved by the Startup, the unmet need or demand for the product and how the startup is uniquely solving the problem. (200 words)
- Explain why the Startup meets the definition of “Medtech” entity and a “Scaling Startup,” Including funding raised to date, and progression of clinical trials where applicable. (100 words)
- Outline the funding received by the Startup including all investments and grants (if applicable). (Table)
- Upload your standard investor pitch deck. Please include a single slide with your goals for the next 12 months and any barriers that may prevent that from happening. (Upload)
2. Capability of execution
- Outline key personnel currently working in the business including founding team and employees (if applicable). (Table)
- Provide the CV’s of the founding team, CEO, and other relevant executive officers. (No more than 3 CV’s per application) (Upload)
- Provide details (where applicable) of participation in relevant and highquality Startup programs. (150 words)
3. Visible signs of traction and potential for business success
- Provide details on business traction to date including product development status, status of any trials, revenue generated, number of customers (if applicable) etc. (150 words)
- Outline the 12-month growth pathway of the Startup, which may include the pathway to achieve new clients, open new markets, increase in revenue, or secure further investment etc. (150 words)
- Upload any letters of support from existing or potential customers or end users, or other relevant stakeholders (not mandatory). (Upload)
4. Need
- Outline the need for the grant – what hurdle will it help you overcome and what do you expect to achieve as a result of the grant? (100 words)
- How will the funding activity be used to scale-up, grow the business and increase Medtech manufacturing in Victoria? (100 words)
5. Financials
- What the grant and 1:1 matched funding will be used for and the expected outputs. (100 words)
- Budget: Provide a budget for the project (complete the budget table), including income and expenditure of Grant and matched funding. Expenditure of the LaunchVic Grant and matched funding can only be used for eligible activities as described above. (Table)
See the guidelines for full details of the assessment criteria.
How do I get the MMGP?
Applicants must:
- Read and understand the guidelines.
- Ensure eligibility for the funding. Applicants that do not meet all the eligibility criteria will not be considered.
- Deliver the project as outlined in the application.
- Provide complete information requirements.
Information to prepare for the MMGP application
Prepare the following information:
- What the grant and 1:1 matched funding will be used for and the expected outputs.
- Budget: Provide a budget for the project (complete the budget table), including income and expenditure of Grant and matched funding. Expenditure of the LaunchVic Grant and matched funding can only be used for eligible activities as described above.
See the guidelines for full details of information requirements.
Applying for the MMGP
Apply online via LaunchVic’s online grant application service, powered by SmartyGrants.
Register your interest here with GrantHelper to explore your alignment with this grant and how we can assist you to increase your chances of success.
MMGP resources
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