JiffyStent Wins the Victorian Government’s MedTech Market Growth Program Grant
Adelaide, Australia - July 23, 2024—JiffyStent has been awarded a $50,000 grant from LaunchVic and secured a place in the prestigious MedTech Market Growth Program.
A collaboration between the Victorian Government’s startup agency LaunchVic and the Australian Medtech Manufacturing Centre, the Medtech Market Growth Program is designed to encourage homegrown medical innovation and assist Australian-based Medtech startups in taking their products to the market. The program offers $50,000 in matched funding that can be utilised to support a range of activities, including product and skill development, market validation, and regulatory compliance.
A total of 20 Medtech startups were announced as the winners of this year’s grant by the Minister for Jobs and Industry, Natasha Hutchison. Each recipient was carefully chosen after evaluating their value proposition, market viability, growth strategy, and impact on patient outcomes and the Australian Medtech ecosystem.
This win underscores JiffyStent’s potential to transform the emergency care pathway for kidney stone pain. The company’s innovative single-use medical device enables urologists to perform ureteral stent placement in an outpatient setting under local anaesthesia. Compared with operating room surgical intervention, the outpatient care pathway saves time, resources, and costs while bringing immediate pain relief to the patients.
“We’re thankful to the Victorian Government, Natalie Hutchins MP, and Kate Cornick, CEO of LaunchVic, for their continued support in helping us advance our mission to transform urological care,” says JiffyStent’s CEO, Dr Joseph Ischia. “For an early-stage medical device company like ours, such grants allow us to move faster in getting our products to the hospitals and healthcare services.”
The company plans to use the funding to scale up its electronics development efforts in Victoria and produce other key components required for the upcoming trials.
JiffyStent was recently announced as the winner of the Early Stage Innovation Forum Award at the AusMedtech Conference 2024. It is also a proud recipient of the MDPP (Medical Device Partnering Program) Grant and was selected for the Australian Clinical Entrepreneurship Program (AUSCEP).
