Top funding opportunities for MedTech startups in Australia

R&D Tax Incentive

The Research and Development Tax Incentive (R&D Tax Incentive or R&DTI) helps companies innovate and grow by offsetting some of the costs of eligible research and development (R&D). The program has been successful in helping attract more investment in R&D and fostering a strong Australian life sciences clinical trials and R&D sector. Medical device developers that want to understand more about R&D tax credits should consult a professional tax specialist for further information.

Research and Development Tax Incentive | business.gov.au

Medical Research Future Fund (MRFF)

The MRFF is Australia’s flagship initiative to boost medical research and innovation. With a staggering $22 billion investment, this long-term fund aims to improve lives, bolster the economy and contribute to health system sustainability.

Under this program, various grants are available for different stages of research and development. The MRFF is ideal for startups looking to undertake significant medical research projects.

Medical Research Future Fund

Biomedical Translation Fund (BTF)

The BTF is an equity co-investment venture capital program that combines government and private sector funding. With over $500 million available, this fund targets investments in prevention, diagnosis and treatment innovations.

Notable recipients include OncoRes, which received $4.14 million to develop an intraoperative imaging technology that translates touch into microscale images. The BTF is ideal for startups seeking substantial investment to scale their innovations.

Biomedical Translation Fund (BTF)

Medical Devices Fund (NSW)

The New South Wales Medical Devices Fund provides ongoing annual funding of $8 million to support MedTech innovations. Grants range from $500,000 to $5 million, helping startups bring their technologies to market and improve patient outcomes.

NSW Health & Medical Research | Medical Devices Fund

MVP Ventures Program (NSW)

The MVP Ventures Program supports startups and innovative SMEs in the product lifecycle between early-stage research and mature investment opportunities, through grants of between $25,000 to $50,000 to drive the commericalisation of highly innovative, new products.

MVP Ventures 2024-2025

Fund WA (WA)

A Seed to Series-A venture fund in Western Australia, Fund WA is an industry-agnostic fund that makes investments in early-stage businesses at the commericalisation stage across all innovative sectors, including but not limited to software, health, biotech, education, energy systems and others.

FundWA

FHRI Fund (WA)

The FHRI Fund releases funding programs in four cycles, opening in March, July, October and December each year. For Current Programs and Initiatives visit:

Future Health Research and Innovation Fund – Current opportunities

Brandon Capital (WA)

Brandon Capital invests in promising biomedical opportunities with the potential to improve patient outcomes. Their portfolio includes innovative companies EBR Systems who developed a revolutionary wireless cardiac resynchronisation therapy (CRT) device. MedTech startups seeking Series A, Seed, or Series B funding can benefit from Brandon Capital’s expertise and resources.

Brandon Capital Partners – Seed and Venture Capital Investments

Melbourne Angels

Melbourne Angels actively invests in early-stage technology companies. Their diverse membership brings a wealth of experience in evaluating business propositions and mentoring entrepreneurs. Successful investments include Imaging, which creates novel diagnostic tools. Startups can benefit from Melbourne Angels’ strategic support and funding.

Melbourne Angels

Uniseed

Uniseed, a venture fund supported by major Australian universities, focuses on commercialising research innovations. With significant investments in biotechnology and healthcare, Uniseed has backed companies like ResusRight, which is developing a clinical monitor to assist during resuscitation at birth. MedTech startups can access Uniseed’s funding and expertise to bring their research to market.

Uniseed | Seeding technology ventures

Medical Angels Venture Fund

A Healthtech and MedTech ESVCLP venture fund, designed to support and accelerate groundbreaking innovations in the healthcare sector. This fund is dedicated to identifying and nurturing startups that are at the forefront of health and medical technology advancements, driving improvements in patient care, diagnostics and treatment options.

Australian Medical Angels

Ten Mile

Ten Mile is a dedicated health technology investment business, leveraging extensive local and international networks to help establish and promote the companies in which to invest, connecting them to resources that will fuel their growth.

Tenmile – Health Technology Venture Capital

Protoaxiom

Protoaxiom is a biotech incubator that provides proof of concept financing. Protoaxiom is a $15 million dollar fund dedicated to exploring innovations and opportunities to fuel biotech advancements in Australia.

Proto Axiom

Australia’s Economic Accelerator (AEA)

Ignite grants support early-stage research commercialisation through competitive grants of up to $500,000 for a maximum period of 12 months. These grants are available for researchers at Australian universities to complete basic research, laboratory testing and establish proof-of-concept in an industry-relevant environment.

The AEA will initially run over ten years from 2023 to 2032, supported with funding from the $1.6 billion investment by the Australian Government in the research commercialisation ecosystem. The program is part of the Australian Government’s research commercialisation agenda and forms part of its efforts to supercharge commercialisation of Australia’s world leading research in the university sector.

AEA Ignite – Australia’s Economic Accelerator, Australian Government