Western Australian developers and manufacturers can now apply for up to $100,000 in matched government funding for medical technology and pharmaceutical manufacturing projects.
The funding comes from a new Manufacturing Voucher Program, aimed at encouraging the development and manufacturing of medical technology and supplies in the state.
A total of $400,000 is on offer for SMEs in grants between $50,000 and $100,000 to produce things like medical devices, diagnostics, biologics and pharmaceuticals.
Medical manufacturing projects that establish capability that does not currently exist in the state will be highly regarded, and it is “preferred” that project activities be undertaken in Western Australia.
“Since the start of the pandemic we have seen first-hand the importance of local medical technology and pharmaceutical manufacturing,” said Western Australia Science Minister Roger Cook.
“Between 2017 and 2019 the number of life sciences companies in Western Australia increased by more than 50 per cent, a clear indication of the growth of the sector.
The grants are part of a partnership between the McGowan government and the federal funded Medical Technologies and Pharmaceuticals Growth Centre, MTPConnect.
The Manufacturing Voucher Program will be delivered by the growth centre’s Western Australia Life Sciences Innovation Hub, which is co-funded by the University of Western Australia and the state government’s New Industries Fund.
Now in its final year, the $16.7 million New Industries Fund was announced in 2017 and has supported innovation hubs, business growth programs, investment attraction, and industry-university collaboration and research programs like the MTP.
Western Australia Innovation and ICT Minister Don Punch said the government is supporting innovative life sciences companies.
“The new Manufacturing Voucher Program will enable more WA small and medium enterprises to get their products to market, while diversifying our economy and creating more jobs,” he said.
“Businesses looking to manufacture their medical technology or pharmaceuticals locally are strongly encouraged to apply for matched funding through this exciting new program.”