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  • Tim Kannegieter

Grants for Product Development

Updated: Mar 15

Updated 23 February 2023: This post is periodically updated to include the latest announcements at the top of the page. Check the closing date for each grant to ensure it is still open or if it has reopened.

This page provides an overview of grants and other opportunities relevant to product development for devices with electronics and software. See also our tips on Writing Grant Applications.

NSW Medical Devices Fund

Applications for Round 12 of the NSW Medical Devices Fund have opened and will close on 29 March 2024. The program awards two to three recipients a loan of up to $5 million, which must be paid back if and when profitable. The program is for progression from Technical Readiness Level 3 or higher, meaning that the technology must have been proven in the laboratory already and is now ready for prototyping or further progression toward regulatory approval and commercial launch.

This program is open to NSW companies with turnover less than $25 million or individuals/researchers intending to start up a new company. Past winners include several that involve electronics and software including:

The assessment criteria make it clear that the winning companies will be those that have the most impact on health delivery in NSW and globally, as well as economic impact through design and manufacturing in NSW.

Genesys Electronics Design is a NSW-based contract designer and developer of medical devices, certified to the required ISO 13485 quality standard. In collaboration with our similarly qualified manufacturing partners, we can help you develop and manufacture your device entirely within NSW.

LaunchVic Medtech Market Growth Program

The MedTech Market Growth Program provides $50,000 matched funding to medtech startups and scaleups working on medical devices and diagnostic products. Applicants must be Victoria based. This round closes on Monday 8 April.

Always open Grants

Companies can apply for these grants at any time.

Commonwealth Industry Growth Program

Nationally, the Australian Government operates the Industry Growth Program, which is the replacement for the cancelled Accelerating Commercialisation program. The first stage of this program awards grants of between $50,000 and $250,000 for early-stage commercialisation projects, specifically for "development of proof-of-concept through to the production and testing of early prototypes". The product, process or service must be "new, unique or significantly different to any other previous product".

CSIRO Kick-Start program

CSIRO's Kick-Start program supports companies wanting to conduct R&D including development or testing of a novel or improved product or process. This is a fully facilitated program to assist your R&D process. The program provides matched funding for up to $50,000 and is open to applications at any time for projects involving CSIRO's researchers. Eligible companies must have less than $10 million in turnover or have been trading for less than three years. You can apply for this program twice.

MVP Ventures Program (NSW)

The NSW Government has also relaunched the Minimum Viable Product (MVP) Ventures Program which has been on hold since the 2023 election. Starting from December 4 in 2024, the program now offers up to $50,000 in matched funding for start-ups looking to release their first product. The fund opens every six months for about 4 months with a short break in-between.

Eligible companies for the MVP Ventures Program include those in industry priority areas such as medical devices, clean energy, waste, agri-food, aerospace and resources, as well as a broad swathe of digital technologies and advanced manufacturing. As long as your start-up has an innovative technology in these kinds of fields, has less than 20 people and is earning less than $1 million per year, then you are eligible. Examples of previous recipients of this program include a vital signs sensing device for aged care and a pressure monitoring solution for concrete pouring.

The MVP Ventures Program aims to help companies move their innovation along the Technology Readiness Levels (TRL) index, from the TRL 3 R&D stage through to having a product in the field, TRL 9. A key stage is TRL 6 which is a prototype demonstration. This is exactly what the Genesys Wireless Sensing platform is designed to do and our Rapid Proof of Concept services are certainly eligible expenditure under the program.

What is most attractive about these two programs is that they are non-competitive. That means applicants only have to meet the eligibility criteria to gain access to the funding. As the Industry Growth Program is funded up to $392 million and the MVP Ventures program up to $3 million per annum on offer, a large number of start-ups will get a much-needed helping hand to get started.

LaunchVic Agtech Grants Program

This matched funding grant of $50,000 supports for early-stage AgTech startups and includes development support services. Applicants must be 50% Victoria based. Applications for this grant are assessed every second month.

Other Grants and Opportunities

NSSN Grand Challenges

The NSW Smart Sensing Network operates a Grand Challenge Fund which is offering up to $100,000 in matched funding. Generally, this opens at the start of each year and applications closed 19 February, 2024. Look out for this again next year.

The NSSN Grand Challenge Fund is targeted at ageing, clean tech, natural hazards, smart places and buildings, and water. This fund is specifically aimed at commercialising smart sensing technology from one of the nine participating NSW universities in collaboration with an industry partner providing the matched funding.


ANDHealth+ is a digital health commercialisation program that provides funding for companies accepted into the projects (so technically speaking it's not a grant). Cohort 4 applications closed 5 February 2024, but check the link for new opening times.

Their definition of digital health includes medical devices that have computing platforms with sensors either alone or in combination with physical products.

This incubator program offers non-dilutive support for digital health applications, including those with sensing devices providing the data. Like similar accelerators, participants must develop their plans and achieve milestones to unlock further funding.

Genesys provides Software as a Medical Device (software only) development services in addition to our normal device development services, so do consider us as a service provider when applying for digital health grants.

How Genesys can help

Genesys is a specialist contract developer of products with electronics and software, complete with mobile apps, backend systems and aesthetic human-centered enclosures. We provide a well-managed, cost-controlled pathway to commercialisation for product developers that need absolute reliability in their products.

We typically assist developers of novel sensors, and/or novel applications of standard sensors, develop a working prototype to demonstrate the viability of the technology or application, then assist our clients all the way through to commercial launch.

For grant projects, where technology is at an early stage of development, we implement our Rapid Proof of Concept Service which may include using our Wireless Sensing Platform.

A typical POC or MVP project involves developing a custom plug-on sensor board (as shown below) that hosts your novel bespoke sensor or we select from one of our off-the-shelf components or sensor boards if it's a common sensor type.

The next step is to develop the application's business logic on the platform's powerful but low-power nRF52 microcontroller and then create some custom graphical display pages for that data on the fully integrated companion mobile app.

Depending on the application we may need to create a custom enclosure to ensure your sensors have an appropriate interface to the objects its is sensing. The enclosure can use one of our off-the-shelf options shown below for attaching the device to a person or an object, or we can develop a custom attachment as well. For a proof-of-concept or low-volume MVP, we typically use high-quality 3D printing or CNC machining.

Enclosure examples

This process normally takes a number of months, depending on the level of customisation required, but well within the typical time limit of grant programs. You are then ready to demonstrate your device to investors!

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