Premier

Funding to Encourage Big Ideas and Rising Medical Tech Leaders

12 March 2015

Minister for Small Business, Innovation and Trade, Adem Somyurek, today announced $276,000 in funding to support the MedTech’s Got Talent entrepreneurship challenge, open to Victoria’s emerging entrepreneurs and start-ups.

The Challenge helps early-stage medical technology start-ups and up-and-coming entrepreneurs to commercialise clever ideas. It focuses on accelerating skills development, such as pitching a new business concept through technology road mapping and launching commercialisation activities.

Mr Somyurek announced the program at the BioMelbourne Network Devices and Diagnostics Laboratory workshop. Supported by the Andrews Labor Government, the workshop brings together Victorian leaders to provide a global perspective on the development of diagnostics and devices that are shaping the future of healthcare.

Victoria is home to about a quarter of Australia’s med-tech companies. With strong global growth predicted, medical technology is one of six sectors that the Victorian Government will invest in to drive economic growth and create new jobs.

The inaugural winners of MedTech’s Got Talent, Victorian start-up SmartStent, are using their new skills and networks to further progress their innovative technology, which decodes neural signals for use in controlling devices like prosthetic limbs, to help with paralysis, amputees and multiple sclerosis.

To qualify for the program, applicants must be based in Victoria and comprise one active team member still at university, in a post-doctoral position or a recent graduate.

The 2015 round is now open, with early-bird applicants who lodge before 30 March able to receive in-depth feedback on their application prior to the 8 April closing date. For more information, please visit www.stcaustralia.org/entrepreneur-challenge/External Link

Quotes attributable Minister for Small Business, Innovation and Trade, Adem Somyurek

“Innovative industries require a strong entrepreneurial culture. That’s why we’re focusing on our emerging leaders.”

“The Andrews Labor Government is supporting Victoria’s best and brightest to translate their medtech ideas into commercial reality.”

“The Challenge will promote Victoria’s world-class research and infrastructure and accelerate investment in Victorian start-ups, creating jobs and growth now and into the future.”

Reviewed 19 August 2020

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