Up to $22.3M is available from Biomedical Translation Bridge to fund and nurture early stage health and medical research ventures.
Biomedical Translation Bridge
The Medical Research Future Fund – Biomedical Translation Bridge grant opportunity will support one or more organisations to fund and nurture early stage health and medical research ventures to reach proof-of-concept stage with potential to attract further capital and support.
The Biomedical Translation Bridge grant opportunity forms part of the Medical Research Future Fund.
The Fund complements existing health and medical research and innovation funding to improve health outcomes through new grant opportunities. Grant funding targets identified national priorities determined by the independent Australian Medical Research Advisory Board consistent with the Medical Research Future Fund Act 2015.
The objectives of the Biomedical Translation Bridge grant opportunity are to support one or more organisations to fund and nurture early stage health and medical research ventures to reach proof-of-concept stage with potential to attract further capital and support.
The intended outcomes of this grant opportunity are to:
- de-risk and develop ventures so that they can attract further funding opportunities
- nurture and mentor the next generation of health and medical research innovators in Australia
- along with the BioMedTech Horizons program, develop ventures to become attractive to the Biomedical Translation Fund (BTF)
- assist in the development of ventures that aim to ultimately result in preventative interventions, cures and treatments for diseases that address health problems of national significance.
The Department of Industry, Innovation and Science, on behalf of the Department of Health, is responsible for administering the grant opportunity.
The Biomedical Translation Bridge grant opportunity will provide $22.3 million over four years from 2018-19 to 2021-22 as follows:
- $10.4 million in 2018-19
- $5.3 million in 2019-20
- $5.3 million in 2020-21
- $1.3 million in 2021-22.
The grant amount will be up to 100 per cent of eligible expenditure.
To be eligible your project must:
- include eligible activities and eligible expenditure
- select, provide funding to, and manage a portfolio of ventures
- provide mentoring and networking capabilities to aid in the development of these ventures, including helping to establish development milestones that are commercially relevant
- solicit and secure relevant and appropriate philanthropic donations and third party sponsorship or co-investment and then provide this to the selected ventures to aid in their development
- select successful ventures, through an open and competitive selection process, with possible subsequent intake rounds or a continuous intake process
- establish a suitably qualified selection panel, in consultation with the department and the Department of Health, that will be used to select ventures to be funded
- execute and manage contractual arrangements with the selected ventures (between $200,000 and $1 million with a maximum duration of three years) including terminating funding and support for ventures that fail to progress
- be able to start in early 2018-19.
There is no maximum to the level of philanthropic donations or third party sponsorship and co-investment that can be solicited and provided to the selected ventures.
To be an eligible organisation you must:
- have an Australian Business Number (ABN)
- be registered for the Goods and Services Tax (GST)
- be incorporated in Australia,
and, in accordance with s24 of the Medical Research Future Fund Act 2015, you must be one of the following eligible bodies:
- a medical research institute
- a university
- a corporate Commonwealth entity
- a corporation (including businesses and not for profits).
Applications close 21 August 2018.