With technological advancement, research and development of even better medical devices and equipment continues to expand across the globe. But many institutions and medical research facilities face budgetary challenges in this space, especially in finally bringing devices to market.
At the user level, upgrading, renewing and expanding the range of devices and equipment in a practice, hospital, institution or medical centre is essential to the continuation of the delivery of high quality health services. But the cost can challenge many budgets.
Some levels of government support the realisation of both these objectives with funding.
The NSW Government is one example. The NSW Medical Devices Fund provides financial support through grants for local institutions to bring their innovations to the commercial market. In addition, it seeks to grow the uptake of NSW devices by the health sector.
For NSW organisations to apply for a grant, refer to the NSW Government website. Other states should refer to their government websites for grants and other funding opportunities.