Advanced Technologies Program Offers Devicemakers up to $300K
The FDA and the Medical Device Innovation Consortium (MDIC) are collaborating to offer funding of up to $300,000 to medical devicemakers that use advanced technologies to enhance product quality or improve the manufacturing process.
The new program will provide funding up to 30 percent or $300,000 — whichever is less — of total project costs. Participants will provide monthly updates on their progress and get partial payments as milestones are met, with full payment once the project is done. MDIC plans to take the learnings from each project to share with industry via white papers and webinars.
The program is being run through MDIC’s Advanced Manufacturing Clearing House (AMCH). Medical device companies that participate in the program can engage and collaborate with solutions providers and the FDA to demonstrate advanced technologies via the clearinghouse.
The FDA defines advanced manufacturing of medical devices as incorporating novel technology or using an established technique or technology in a new way by improving design, supply, production, distribution, tracking, device reliability, overall quality and safety across the product lifecycle, said MDIC.
Watch the LinkedIn Live event on MDIC’s Advanced Manufacturing Initiative here.