How is repayment decided to the Medical Devices Fund? Unless there is a company restructure, upon commercial success of a project, repayment of the grant is triggered. Commercial success of the project is defined as cumulative EBITDA of over $500,000. Repayment of the grant is calculated at 30% of cumulate EBITDA after the success trigger until the grant is repaid.
Can the interest rate for repayment be a fixed rate? The interest rate is based on Annual Nominal CPI.
Can the funds be used to match a Minimal Viable Product grant or an Accelerator Commercialisation grant? As a government grant, the Medical Devices Fund typically will not be accepted as matching funding by those programs. However, you can and are encouraged to apply to the Medical Devices Fund if you have received either grant.
Does the fund expect any equity participation in the business? No, it does not, this is one of the unique features of the Medical Devices Fund.
How does the fund view an approach to stagger grant requests? E.g. 1 million this year, 1 million another? The total amount of Funds payable is paid in one lump sum in the financial year for which you received the grant. If you would like to apply for a second grant at a later stage, you will need to submit a new application.
EMV Price at posting:
$1.59 Sentiment: Buy Disclosure: Held
