Lactamo receives Federal Government Funding
Lactamo is incredibly grateful to be selected as one of 37 companies receiving a grant from the Australian Government Department of Industry, Science and Resources through AusIndustry’s Entrepreneurs’ Programme. The Australian Government have been so supportive of the world-first innovation in breastfeeding that Lactamo is bringing to market, recognising the potential of Lactamo as a “game-changer in breastfeeding”.
With this significant grant we’re excited to be able to take Lactamo to the next level, and we’re proud to live in a country with such progressive support for innovation and entrepreneurs.
See below full press release from the Australian Government.
Female founder solving a common problem in new mothers
The founder of Lactamo, Etta Watts-Russell is a corporate lawyer and award-winning entrepreneur who was inspired to help other mothers after her own breastfeeding difficulties. Despite breastfeeding being considered best practice for babies, so many mothers cease breastfeeding because of common issues like engorgement, blocked milk ducts and mastitis. To address this issue, Etta developed Lactamo, an ultra-soft jelly-like ball with uniquely designed protrusions specifically developed and designed for the elasticity of breast tissue, to facilitate the application of temperature, movement and compression in lactation.
Compelling value proposition
Lactamo was a perfect candidate for an Accelerating Commercialisation grant as they could demonstrate a strong value proposition and large global market. The World Health Organisation estimates that an estimated 820,000 children under 5yo and 20,000 mothers die each year as a result of not breastfeeding or sub-optimal breastfeeding practices. They also state that for every dollar spent on enabling breastfeeding practices there will be an economic return of $35.
A clear market opportunity in India
Lactamo’s Accelerating Commercialisation project was to commercialise their product in India. This was chosen specifically because of the large market size and strength of market interest that Lactamo could substantiate. Of the 130M babies born every year, 25M of these are in India making it the perfect starting place for global expansion.
Impact of funding
Before applying for an Accelerating Commercialisation grant, Lactamo had regulatory compliance, listing with the TGA as a Class 1 Medical Device, registered patents in all target markets and early sales in Australia. What they needed to launch in India however was much more than this, and they were unable to fund it without government assistance. Their agreed project will allow them to scale their manufacturing, ensure legal and regulatory compliance in India, develop go-to-market strategies, execute distribution and retailer agreements and provide product samples.