NSW Biosciences Fund Round 2 Now Open
The NSW Biosciences Fund is a commercialisation program for biological sciences (biotechnology and life sciences) businesses.
The objectives of the NSW Biosciences Fund are to:
- improve commercialisation opportunities; and,
- provide financial support,
to progress the development of new and innovative devices and systems across the branches of biotechnology and life sciences, including biomanufacturing, genetic engineering, synthetic biology and agrifood.
Grant funding will be provided for projects ranging between $200,000 to $2 million.
Eligibility
To be eligible for the NSW Biosciences Fund applicants must:
- be headquartered in NSW with an ABN and registered for GST
- be a company or willing to set up a company•
- hold the intellectual property or the rights to commercialise the device/ system/innovation
- apply for one project per funding round.
Eligible grant activities
For a grant activity to be eligible it must:
- have a maximum project period of two years
- seek to progress an innovation along the commercialisation pathway
- have an existing prototype/proof-of-concept
- be TRL 3-7 on the TRL Scale
- demonstrate why sufficient funding for the entire project cannot be accessed from alternative sources and that the project would not proceed at the proposed scale in NSW without government support
To be eligible, costs must be used for:
- Prototyping, product development and piloting studies
- Manufacturing and/or scaling
- Conducting market research, testing and trials
- Regulatory approvals and other relevant certifications
- Salaries and access to external expertise that is directly related to delivery of the project
- Commercialisation strategies and commercial feasibility studies
- Project consumables directly related to delivery of project outcomes
- Specialist equipment and/or infrastructure necessary to progress the project
- Intellectual property protection or advice.
Application process
There is a 2 stage process. First stage is the preliminary application. Selected applicants will be asked to submit a full application.
Note this is a competitive grant and you will be judged against various assessment criteria. Read the grant guidelines to learn more about these.
Other key information
The applicant must repay the grant if the organisation achieves a specified level of economic success from project outcomes (e.g. once the recipient reaches an agreed revenue threshold through the commercialisation of the device or system).
The grant moneys are paid up front, but you will be required to pay back grant funds where the corresponding spending was not in accordance with the Deed of Agreement.
How to Apply
Click here to learn more apply for the NSW Biosciences Fund.
Note there is an information webinar on 20 March 2025
Note applications close 30 April 2025.
Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.
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Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052
