Grants awarded under Victorian Medtech Market Growth Program

The Victorian government has announced a round of 20 grants valued at $50,000 each the companies under the Medtech Market Growth Program.

The funding was announced at the office of medtech startup Livac on Monday morning. Livac is developing a medical device (pictured) to help safely retract the liver during surgery. 

Livac and novel blood pressure monitor company Tournicare are both mentioned as grant recipients under the program, with “20 startups or scaleups set to receive a grant” under the program.

According to the statement, grants are designed “to determine product value and bridge the gap between the development of products and getting them into” use by healthcare professionals.

“Medtech is one of the state’s fastest growing industries and by targeting startups and scaleups in this sector, we are boosting innovation and promoting our thriving startup ecosystem as a global destination for investment,” said economic growth minister Tim Pallas.

The program – jointly administered by the Australian Medtech Manufacturing Centre and startup agency LaunchVic – was launched in February.

Picture: credit Livac