The Victorian Government has announced a new $15 million program to promote demand-driven innovation in the state’s healthcare system.

 

The Health Market Validation Program (HMVP) will run on a competitive grants model while leveraging the power of government-as-customer to support the development of innovative health technology solutions to identified problems facing Victoria's health sector.

 

State Minister for Technology Gordon Rich-Phillips said the program aimed to support the growth of innovative small to medium enterprises (SMEs) in order to deliver economic benefits for Victoria including job creation, export and investment opportunities, and increased productivity.

 

"We are seeking innovative solutions to identified healthcare challenges to achieve better health outcomes, improve healthcare service delivery and provide economic benefits for Victoria," Mr Rich-Phillips said.

 

The HMVP will follow a three stage process, n the first stage, health-focused public sector agencies will be the 'customers' who can specify their needs and the benefits expected to be achieved from addressing the problem. In the second stage, SMEs (and collaborating partners) will be invited to submit technology solutions to selected healthcare problems.

 

Successful projects will receive funding of up to $100,000 for feasibility studies to investigate the viability of the proposed solution. Projects will then be assessed for further funding of up to $1.5 million to develop the technology and undertake validation activities.

 

For further information and to register for updates, visit www.business.vic.gov.au/hmvp