Singapore has introduced MedTech Catapult, a USD 28 million (SGD 38 million) initiative by the Agency for Science, Technology and Research (A*Star) to accelerate medical device commercialization. Based at Biopolis, it aims to support medtech companies in bringing products to market while enhancing local manufacturing capabilities.
Over four years, MedTech Catapult plans to assist around 20 companies, selecting projects with strong commercial potential and requiring partnerships with at least two local suppliers or contract manufacturers. Since its April 1, 2024 launch, it has received 11 applications, with two active projects and five in the pipeline.
Funding is allocated to infrastructure, project support, and workforce expansion. The initiative, currently with 16 staff, aims to grow to 20 and may receive additional resources under Singapore’s Research, Innovation, and Enterprise 2030 plan.
One key project is a remouldable orthopedic cast by Castomize, undergoing clinical trials in Singapore and South Korea. MedTech Catapult is assisting in refining its manufacturing prototype.
A new supplier directory listing 30 firms specializing in advanced manufacturing has also been launched to help medtech companies find partners. MedTech Catapult seeks to cut medtech product development time from five to seven years to three to five, boosting Singapore’s medtech sector.
(Source: Business Times)
