Up to $400,000 is available for late stage life sciences R&D projects.
The Building Global Bridges program supports Victorian life sciences companies to develop partnerships with Massachusetts life sciences companies to undertake research and development, manufacturing and commercialisation projects.
The Building Global Bridges program aims to:
- build and strengthen linkages between State of Victoria and the Commonwealth of Massachusetts
- facilitate partnerships between Victorian and Massachusetts life sciences companies
- provide funding to accelerate the development of life sciences products, processes and services by Victorian life sciences companies
- enable Victorian life sciences companies to develop skills and gain access to relevant expertise and a greater US-based investor pool, as well as to access the US market more directly.
A Building Global Bridges grant must be used for life sciences research and development, manufacturing and/or commercialisation projects delivered in partnership with a Massachusetts life sciences company.
It is expected that projects will be at a sufficiently late-stage of research and development that a clear path to commercialisation has been defined. Projects may include one or more of the following activities:
- proof of concept activities to establish the commercial viability of a new product, process or service
- proof of efficacy or pilot activities to evaluate the mechanism, sensitivity or dosage of a new drug, process or device
- commercialisation activities that focus on developing a new product, process or service to a stage where it can effectively be brought to market.
For example a company could use a Building Global Bridges grant for:
- a project to combine a unique catheter developed by one company, coupled with a specialised laser developed by another company to treat cardiac defects
- a novel hormonal compound from one company coupled with a unique topical delivery system developed by another company to treat hormonal imbalances
- a pilot program delivered by one company to assess the sensitivity a diagnostic device developed by another company to detect early onset of diabetic episodes.
The Victorian applicant company must:
- be a for-profit (publicly funded research organisations are not eligible) life sciences company with its registered office and two or more full time employees located in Victoria
- make a co-contribution to the project of at least the grant amount awarded by DSDBI, including a cash contribution of no less than $75,000
- not be currently involved in litigation with the State Government of Victoria.
The Massachusetts partner company must:
- be a for-profit life sciences company that is registered to do business in Massachusetts and meet the MLSC definition
- make a co-contribution to the project of at least the grant amount awarded by the MLSC, including a cash contribution of no less than $75,000
- not have been awarded $500,000 or more through MLSC’s Accelerator Loan, Small Business Matching grant program, International Collaborative Industry Program (ICIP), or Massachusetts-Israel Innovation Partnership (MIIP).
Each company in a partnership can apply for between $75,000 and $400,000 of funding from their respective agency; however each partner may apply for different amounts (for example the Victorian company may apply for $75,000 and the Massachusetts company may apply for $400,000, or vice versa).
Both companies must make a co-contribution to the project of equal or greater value than the grant amounts awarded. Cash co-contributions will be held in particularly high regard by the Expert Assessment Panel and cannot be less than $75,000.
Applications for Round 2 of the Building Global Bridges program are now open.
All phase one applications are due by 12.00 AM (midnight) Australian AEST on 2 October 2014
Shortlisted Phase One applicants will be notified in November 2014 and invited to make an individual Phase Two submission to their respective agency.
Individual Phase Two submissions are due by 12.00 AM (midnight) Australian AEST on 3 December 2014.
Writing a good quality grant application is a critical element in the application process. An application needs to be well thought through, written concisely, have clear objectives and purpose, and show clear links to the objectives of the grant guidelines.
The grant application must answer all questions, provide all required information and respond to the merit criteria. It should also reflect your organisation’s business strategy.
Writing a good application takes time and effort, and requires particular writing skills.
Bulletpoint are expert grant consultants and can assist with all aspects of grant preparation.
We have significant experience in applying for grants.
Call us or email to discuss further.
- Program Guidelines – Building Global Bridges