Grants up to $5 million to fund the development and commercialisation of innovative and cost-effective medical devices and related technology that will improve patient outcomes.
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What is the Medical Devices Fund?
The Medical Devices Fund Round 13 is a competitive grant programme administered by NSW Health’s Office for Health and Medical Research. It is designed to drive the development and commercialisation of innovative medical devices and related technologies in NSW. By addressing gaps in the product lifecycle from early-stage research (from TRL 3) to mature investment opportunities, the Fund aims to improve patient outcomes, create economic and social benefits, and boost NSW’s health system.
Medical Devices Fund level of support
Funding is provided on an open competitive basis with support tailored to the project’s needs.
- Funding Range: Each project can receive between $500,000 and $5,000,000 (excluding GST).
- Total Available Funding: Up to $8 million is allocated for this round.
- Co-contribution: No co-contribution is required from the applicant.
Medical Devices Fund important dates
- Information Session Webinars:
- Wednesday, 16 April 2025 (12:00 – 1:00 pm AEST)
- Wednesday, 23 April 2025 (12:00 – 1:00 pm AEST)
- Preliminary Applications Close: Tuesday, 13 May 2025 at 5:00 pm AEST
- Full Applications: Invitation-only, expected to open in July 2025
- Notification of Outcome: December 2025
- Register your interest with GrantHelper
Medical Devices Fund objectives and outcomes
The key objectives of the Fund are to:
- Accelerate Commercialisation: Support local innovators to transform research into market-ready medical devices.
- Improve Patient Outcomes: Ensure that innovative, cost-effective devices contribute to enhanced clinical care and health outcomes in NSW.
- Generate Broader Benefits: Create economic, social, and environmental benefits that contribute to the sustainable development of NSW’s health sector.
Projects eligible for Medical Devices Fund support
The Fund supports projects that:
- Are at least at Technology Readiness Level 3 (demonstrating technical proof of concept).
- Address any stage across the medical device product life cycle—from device development (including proof-of-concept, prototyping, pilot studies) to clinical assessment and commercialisation planning.
- Include activities such as manufacturing sample production, business planning, intellectual property management, and capital raising.
Ineligible Expenditure:
Projects must not request funding for items that do not align with the programme’s objectives. This includes expenditure on:
- Acquisition of land and buildings, capital works, or general infrastructure costs
- Costs directly related to basic research (e.g. PhD stipends)
- Fees for visas, relocation, mobile phones, and insurance
- Expenses for international students or associated liabilities
- Donations, gifts, or any fine/penalty payments
See the guidelines and FAQs for full details of project eligibility criteria.
Other Medical Devices Fund important details that you will need to know
Organisations eligible for Medical Devices Fund support
Eligible applicants include:
- Companies/Commercial Enterprises: Must be headquartered in NSW, have an Australian Business Number (ABN), and an annual turnover of less than $25 million.
- Individuals: Based in NSW who agree to form an appropriate legal entity for the purpose of the funding agreement.
- Public Sector Organisations: NSW public research organisations (hospitals, medical research institutes, universities) applying through their technology transfer offices.
Not Eligible:
- International companies or Australian subsidiaries of international companies
- Subsidiaries of Australian companies (the parent organisation should submit the application)
Medical Devices Fund assessment criteria
Applications will be evaluated based on the following criteria:
- Impact on Health Outcomes: Demonstrate the potential to improve patient care and health system performance both in NSW and globally.
- Economic, Social and/or Environmental Impact: Evidence of delivering substantial benefits for NSW.
- Impact on Clinical Practice: How the device will enhance clinical efficiency, safety, quality, and overall practice.
- Innovation: The novelty of the device – whether it is new to market or the world.
- Commercialisation Pathway: A clear, feasible route for moving the device from development to market.
- Funding Need: Justification that alternative funding sources are insufficient for the proposed project scale.
- Team Expertise and Capability: The skills and experience of the project team to successfully execute the project.
Indicative Weighting:
While official percentages are not published, previous rounds have shown a strong emphasis on health impact and innovation (approximately 30–35%), with the remaining criteria (economic impact, clinical practice, commercialisation, funding need, and team capability) accounting for the balance. These weightings are illustrative and subject to the discretion of the NSW Health review panel.
How do I get Medical Devices Fund?
You should read and understand the guidelines.
Successful applicants will demonstrate:
- a compelling case for an investment not just a healthcare technology
- a clear business model, value proposition and path to market
- realistic financial projections that consider risk as well as potential benefits
- a sound IP strategy
- the capacity and capability of the project team to support successful completion of the project within the agreed timeline
Where appropriate, the Fund Expert Panel may consider the following in their recommendations:
- The requested funding amount in relation to the proposed project
- Whether the applicant has access to other avenues available to raise capital which may assist with the delivery of the project
- The total funding available in the Fund round
Information to prepare for the Medical Devices Fund application
Before applying, ensure you have the following information and documentation ready:
- A detailed project proposal outlining your device’s technology (including evidence supporting the TRL 3 or higher rating).
- A clear commercialisation plan demonstrating the pathway from development to market.
- Financial documentation, including budgets and a rationale for why alternative funding is insufficient.
- Evidence of intellectual property ownership or rights to commercialise the device.
- A completed preliminary application form and all required attachments (ensure file sizes comply with the 20 MB limit).
- Contact details and endorsements where applicable (e.g. letters of support).
Applying for Medical Devices Fund
Applications must be submitted electronically to MOH-OHMRGrants@health.nsw.gov.au.
Register your interest with GrantHelper to explore your alignment with this grant and how we can assist you to increase your chances of success.
Medical Devices Fund resources
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