Navi is excited to announce that we have been successful in receiving almost $400,000 funding from the Australian Government Department of Industry, Innovation and Science through the Accelerating Commercialisation grant as part of the Entrepreneurs’ Programme. We are proud to be named in Minister Karen Andrew’s media release as an “innovative medtech solution that helps doctors administer medicine to critically ill newborns”, and one of nine businesses that secured this highly competitive grant. See Minister Karen Andrew’s media release for why Navi’s innovation is an important innovation.
This grant will enable us to complete our next phase of product development and testing, which includes a clinical study at The Royal Women’s Hospital in Melbourne where we’ll be using our medical device in newborn patients for the first time. We are pleased to have a longstanding partnership with The Royal Women’s Hospital. See news article from the Royal Women’s Hospital.
With this grant, Navi has secured a total of $1.7 million, following our recent $1.15 million capital raise and $150,000 prize money. This represents important validation of Navi’s focus on pediatrics and neonatal patients. Our CEO and co-founder, Alex Newton, explains the importance of this achievement in this Smart Company article.