Applications are now open for the Genesys MedTech Grant, which aims to support Australian startups and small businesses in accelerating the development of their medical technology products.
The grant programme will provide selected applicants with engineering services and industry mentorship valued at AUD $20,000. Participants will have access to resources from Genesys Electronics Design and partner organisations, including UNSW Founders.
This initiative is targeted at Australia's MedTech sector, which comprises over 900 companies, with a significant portion of life sciences companies and startups based in New South Wales. The grant aligns with the objectives of the recently implemented New Health Research and Innovation Strategy.
George Bou-rizk, Co-CEO of Genesys, said, "At the AusMedTech conference we heard from delegates the need for more startup friendly services to help set the stage for more of our health startups and scale-ups to become global success stories. Coming back to the office we immediately put our team towards thinking through service packages that we could offer to startups to fast track the grant we'd already been planning."
The grant provides recipients with access to a range of development services specifically tailored to the needs of medical technology startups at various stages of growth. Included among these are artificial intelligence and machine learning prototyping, custom printed circuit board design, application development, system architecture, and grant support. Grant winners can customise their support package to best meet their product development needs, up to the value of AUD $20,000.
Explaining the motivation behind the grant, Genesys Co-CEO Damien Landais stated, "Earlier this year, when we spoke with our team about the kind of impact we wanted to have, the feedback was clear: solving tough problems to improve people's lives is why we all come to work each day. Our team genuinely enjoys working closely with startups and supporting founders, so a grant to support the thriving Australian MedTech community was a natural next step. We're excited to meet the teams who apply and to see this initiative build on our partnerships with the UNSW Founders Program and the Liverpool Innovation Precinct."
The launch of this grant follows previous efforts by Genesys to invest in the Australian medical research and MedTech landscape. Genesys is an official partner of the UNSW Founders Program and the Liverpool Innovation Precinct, in addition to allocating AUD $150,000 to the Connected Sensors for Health ARC research industry co-funded programme.
Reflecting on the partnership with Genesys, Lance Chia, Director of the Liverpool Innovation Precinct, said, "Their wealth of experience developing cutting-edge medical devices will help the innovators we work with deliver novel solutions to global health challenges quicker, at reduced risk and at lower cost. Having Genesys as a trusted partner adds significant and specialised technical and design capability to the Liverpool Innovation Precinct."
UNSW Founders Program Manager, Joseph Po, highlighted the importance of specialist engineering support for startups, saying, "It's critical that health and MedTech startups have access to sophisticated, cost-effective prototyping and engineering support. Bridging the gap between prototyping and a legitimate product in-market is key, and Genesys bring the perfect blend of product development sophistication and real world savvy to achieve successful scale-up. We're proud to be joining the judging panel for this grant, and look forward to meeting the amazing founders who apply."
Genesys employees bring more than three decades of experience to the MedTech industry and have contributed to the development of numerous medical devices, often through extended collaborations with partner companies.
Martin Dillon, Chief Executive Officer of Truscreen, added, "The trust that's been built with Genesys over the past decade is outstanding. Their commitment to providing consistent, high-quality service to our team, and the technical expertise they bring to the table makes them a truly trusted partner. Their input into TruScreen has made a major contribution to our impact on the health outcomes of over 1,000,000 women worldwide."
Genesys Electronics Design operates as a consultancy based in Sydney with a history of supporting medical technology companies through electronics, software, mobile applications, IoT solutions and user-centred design. The company has implemented an ISO 13485-certified quality system and has established partnerships with national initiatives in smart sensing and the Internet of Things.
