You can develop new capabilities in producing medical tool components, develop new medical products and processes and implement international standards to meet stringent outsourcing requirements by global MedTech companies.
Industry-level Projects
Industry-level projects can be started by a group of companies to jointly improve their competitiveness and innovative capabilities.
Enterprise-level Projects
The MedTech CDP also supports individual MedTech SMEs to embark on capability development projects.
You can apply for the MedTech Capability Development Programme if your company / project meets these criteria :
- at least 30% of your shareholding is local
- your company’s group fixed assets are worth below $15 million*
- you have not more than 200 employees (for companies in the services sector)*
- develops new capabilities that significantly improve productivity and/or value-added per worker
- leads to significant contributions to the sector
- has not commenced at the time of application
*
Computed on a group basis i.e. checking up to three levels for corporate shareholders holding 20% or more of the total shareholding in the company and one level down where the company holds more than 50% of the shareholding in a subsidiary company.
Funding support is available for companies embarking on eligible projects under the MedTech CDP. Eligible costs include :
a) Manpower-related Costs
- Salary of project members (excludes bonuses)
- Airfare (economy) and cost of living allowances
- Training costs
b) Equipment & Materials
- Industrial equipment, materials & consumables
- Hardware and software
c) Professional Services
- Consultancy
- Subcontracting
Examples of projects :
a)
Process Improvement such as the adoption of Lean Manufacturing, Six Sigma, Statistical Quality Control and Enterprise Resource Planning.
b)
Product and Process Development including new medical equipment and manufacturing processes.
c)
Strategic Partnerships which leverage on SMEs’ complementary skills to provide a wider range of services.
d)
Certification to internationally recognised standards, such as Food and Drug Administration certification and Medical Device Quality Management Standard ISO13485.