Up to $7.1 M is available for businesses and research organisations to commercialise Australian tropical medical research.
Overview
The Australian Tropical Medicine Commercialisation is an $8.5 million programme to develop pathways to commercialise Australian research on new tropical therapeutics, vaccines and diagnostics in partnership with international companies. It will build connections between Australian research institutes and global players in the health sector, including pharmaceutical companies and philanthropic organisations.
The Australian Tropical Medicine Commercialisation Programme was announced on 10 May 2015, by the Minister for Trade and Investment, the Hon Andrew Robb, and is part of the 2015-16 Australian Government Budget.
Background
Tropical Medicine is the branch of medicine focused on the diagnosis and treatment of diseases, found primarily in the tropic and sub-tropic regions of the world, generally between 30 degrees north and south of the equator. These include parasitic infections, as well as ‘exotic’ viral, bacterial and fungal infections.
Australian researchers are discovering new therapies and diagnostics for dengue fever, malaria, tuberculosis and other diseases of the developing world notwithstanding the fact that these diseases are not endemic to Australia.
Objectives
The Australian Tropical Medicine Commercialisation Programme aims to support the Australian Government’s commitment to:
- increase foreign direct investment (FDI) into projects that progress the commercialisation of Australian Tropical Medicine research and development;
- lift Australia’s position in the global supply chain by helping to introduce Australian tropical medicine research and development to global commercial networks, which can expand Australia’s involvement in supply chains through firm deals or partnerships related to Tropical Medicine technologies and products; and
- create opportunities for Australian researchers and businesses to access FDI for the translation of Australian Tropical Medicine research and development into commercial and clinical outcomes.
In meeting the Programme objective, the Programme is expected to attract and leverage FDI to:
- develop effective business, research and commercialisation networks in Tropical Medicine; and
- increase capability and capacity to commercialise Australian Tropical Medicine research and development.
Funding
It is an $8.5 million programme, of which $7.1 million is available in grant funding.
The minimum grant amount is $15,000 and the maximum grant amounts for proof of concept activities is $250,000. The maximum amount for business planning activities is $50,000.
There is no maximum grant amount for Commercialisation Activities, but the maximum grant funding available under the programme is $7.1 million.
Grants are for up to 50 per cent of eligible project costs. Matched funding must meet at least 50 per cent of eligible project costs. Matched funding for commercialisation activities must be sourced from Foreign Direct Investment (FDI).
Eligible Applicants
To be eligible, you must be:
- a trading corporation incorporated in Australia that is non-income tax exempt; or
- a publicly funded research organisation; and
- compliant with the Workplace Gender Equality Act 2012 (Cth); and
- registered for GST.
For projects with Commercialisation Activities you must:
- provide proof that you have or are in the process of reaching an intellectual property (IP) and investment agreement relating to the project with any project partner.
For projects with Proof of Concept or Commercialisation Activities you must provide:
- proof that you have ownership, access to or beneficial use of any IP that is the subject of or necessary to undertake the project.
- a project funding strategy, including evidence of how the matched funding will be provided.
Eligible Projects
A project must:
- Include eligible activities and expenditure.
- Be completed within 3 years of starting the project and cannot extend past 30 June 2019.
Eligible Activities
Eligible activities include:
Commercialisation activities for product development which will:
- build connections with multinational organisations who can register and manufacture tropical medicine
- work towards global scale production and distribution of products throughout developing countries
- leverage funding for future collaboration partnerships.
Proof-of-concept activities that will generate data to demonstrate the technical or commercial application of the research or technology, such as:
- in vivo animal experiments to demonstrate efficacy of a drug or vaccine
- production of a prototype diagnostic test or assay
- optimisation of a potential drug candidate through medicinal chemistry.
Business planning aimed at attracting FDI to fund commercialisation of tropical medicine research and development in Australia.
Timing
Applications close 19 February 2016.
