Victorian companies awarded funding to develop innovative healthcare solutions
General Portfolio Press Releases
Ten innovative Victorian companies have been awarded funding of up to $100,000 to undertake feasibility studies as part of the Health Market Validation Program – a $15 million competitive grants program designed to encourage innovation in healthcare.
Minister for Technology Gordon Rich-Phillips said the companies had been awarded funding under the feasibility study stage of the program to investigate whether new technologies can solve healthcare challenges identified by Victorian hospitals and health services.
“The Health Market Validation Program supports collaboration between the public health sector, researchers and companies and is an initiative of Victoria’s Technology Plan for the Future – Biotechnology,” Mr Rich-Phillips said.
“The program aims to improve health services for Victorians and capitalise on Victoria’s strength as the leading state for medical research and innovation, to create commercial and export opportunities for Victorian companies.
“Under the first stage, we sought challenges in areas such as dental, reproductive, emergency and children’s health, and we then went to market seeking Victorian companies to propose solutions to these problems.
“Once successfully completed, the feasibility studies will be assessed for further funding for the validation stage to undertake R&D to develop solutions over two years,” Mr Rich-Phillips said.
Companies receiving funding of up to $100,000 to carry out feasibility studies are:
- OptoTech (working with Ambulance Victoria) to investigate a safe non-invasive method for early detection and treatment of circulatory shock in critically ill patients.
- Bionic Enterprises (working with the Peter MacCallum Cancer Centre) to investigate a simple and more cost-effective pain alleviation device to address chronic pain.
- Perfusion Solutions (working with Alfred Health) to investigate a new preservation technique for donor organs.
- Grey Innovation (working with The Royal Victorian Eye and Ear Hospital) to investigate a surgical implant to treat glaucoma and improve the outcome of eye surgery.
- Procept (working with Monash Health) to investigate a solution to make cardiac output and oxygen consumption measurement simpler, safer, and less costly.
- APS Solutions (working with Dental Health Services Victoria) to investigate a device that will offer a plaque removal solution for children and people with disabilities.
Grey Innovation (working with Eastern Health) to further investigate developing a miniature nebuliser for the treatment of chronic respiratory illnesses; and a second project working with The Royal Women’s Hospital to investigate a simple, fast, accurate and low cost nucleic acid detection test for sexually transmitted infections for use by healthworkers in community health clinics.
- MedTech Healthcare (working with Peninsula Health) to investigate a method of remote monitoring for chronic heart failure patients to automatically report (in real time) personal health data to clinicians, via the internet or portable smart devices; and
- Biota (working with Monash Health) to investigate a safe anti-viral for the treatment of children under five years of age who present with symptoms of human respiratory syncytial virus.
Kristy McSweeney 0408 451 658\
Source: Gordon Rich-Phillips - Minister for Technology