Grant applications have opened for medical products manufacturers under the Modern Manufacturing Initiative, with funding between $1 million and $20 million available for successful applications.
Grants cover up to 50 per cent of total project expenditure. These cover the “translation” and “integration” streams of the MMI — budgeted at $1.3 billion — “with expressions of interest for the larger Collaboration stream to open in coming months.”
Federal industry minister Karen Andrews said the support would help more medical products be made in Australia, and to turn more ideas into commercial reality.
“Australia has pioneered many commercially successful medical products that have made it on the world stage, including the cochlear implant, the green whistle pain reliever and the cervical cancer vaccine,” Andrews said in a statement.
This is the second of six National Manufacturing Priority sectors (depicted in the image) to have MMI grant applications open in as many Fridays, following space last week. As with space, a roadmap for the sector was also released to coincide with this. The Resources Technology and Critical Minerals Processing, Food and Beverage, Recycling and Clean Energy, and Defence sector roadmaps are expected to be released in coming weeks.
The medical products road map can be read here. It identifies the below as growth opportunities:
- Smart monitoring devices
- Personalised implants
High value-add medicines:
- Sophisticated pharmaceuticals
- Complementary medicines
- Regenerative medicines
- mRNA vaccines
Digitally integrated products and platforms:
- Digitise existing medical products
- Emerging data-driven products
- Advanced manufacturing technologies
- Rapid diagnostics
Picture: Department of industry
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