$1.3B Modern Manufacturing Initiative now open for medical product manufacturers

Image Credit: Australian Government | Department of Industry, Science, Energy and Resources

The Morrison Government has opened the funding round for projects in the medical products manufacturing sector under the Modern Manufacturing Initiative (MMI).

Australia’s medicine industry is the second of six National Manufacturing Priorities to be supported by an initiative intended to ‘super-charge‘ domestic manufacturing capability with a $1.3 billion investment.

“This support will help us make more medical products right here at home – creating more skilled jobs for Australians and helping build a resilient and competitive manufacturing base at the heart of our economy,” said Minister for Industry, Science and Technology Andrews.

Successful applicants will receive additional support to bolster production, commercialise products and operations, and set their competitive advantage over local and global markets.

“Australia has pioneered many commercially successful medical products that have made it on the world stage, including the cochlear implant, the green whistle pain reliever and the cervical cancer vaccine.

“Through the Modern Manufacturing Initiative, we’re supporting more manufacturers to turn their clever ideas and research into commercial outcomes, and harness global opportunities.”

The Government also released the National Manufacturing Priority road map for medical products intended to guide direction and industry investment of the initiative.

Under the road map, the Government is set to invest in the following medical manufacturing capabilities: smart monitoring devices and diagnostics, personalised implants and bionics, high-value pharmaceuticals, biologics and complementary medicines, cutting-edge treatments like mRNA vaccines, regenerative medicine and genomics, as well as digital integrated products and platforms

“This dynamic, industry-led road map sets out the vision for the sector with a focus on high-value opportunities that will position medical products manufacturers for long term growth,” said Minister Andrews

“Australia’s response to the COVID-19 pandemic showed the remarkable capability and expertise that already exists within our medical products manufacturing sector, as well as our potential for future success.”

“The MMI is focussed on scaling-up that capability – both to create economic opportunity and to ensure the supply of critical products during times of crisis.”

Road maps for the remaining National Manufacturing Priorities – Resources Technology and Critical Minerals Processing, Food and Beverage, Recycling and Clean Energy, and Defence – are set for release in the upcoming weeks, coinciding with their respective MMI funding rounds.

Initial applications will be limited to the Translation and Integration streams of the MMI, with expressions of interest for the larger Collaboration stream to open in coming months.

For more information on the road maps and available grant funding visit industry.gov.au/manufacturing.