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What is the NSW Biosciences Fund?
The NSW Biosciences Fund is a program to help companies with innovative technologies, devices and systems in areas including biotechnology and life sciences, biomanufacturing, synthetic biology and agri-food.
Background
The Biosciences Fund is a $10 million, competitive technology development and commercialisation program funded by the NSW Government through the Future Economy Fund’s Commercialisation Pathways Program (CPP) administered by the Office of the NSW Chief Scientist & Engineer (OCSE) within the NSW Department of Enterprise, Investment and Trade (DEIT).
The Commercialisation Pathways Program is funded under the Future Economy Fund announced in the 2022/23 NSW State Budget to support innovation and business development in emerging, high-value sectors where NSW has a competitive advantage.
Objective
The objective of the Biosciences Fund is to progress new and innovative devices and systems towards commercialisation within NSW across the branches of the biological sciences (biotechnology and life sciences), including biomanufacturing, genetic engineering, synthetic biology, and agrifood.
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Funding
Biosciences Fund Round 1 provides grants valued between $200,000 and $2 million.
Eligible Projects
Projects must align with:
- one of three Priority Industries listed in the NSW Industry Development Framework:
- Agriculture and agrifood
- Medical and life sciences
- Clean energy and waste, and
- one of the technology applications identified in the NSW 20-Year R&D Roadmap:
- Genetic Engineering
- Synthetic Biology
- Personalised Medicine
- Cell-based meats
- AgTech
- Sustainable Fuels
- Power to X
- Renewable generation
- Environmental monitoring and management
- Robotics
- AI
- Pharmaceuticals and nutraceuticals
- Circular Economy
- Novel Fertilisers
- Vaccines
The project must:
- have a maximum project period of two years (unless there are exceptional circumstances). Projects will require clear and achievable milestones (e.g., moving from TRL 3 to TRL 4) to support appropriate staging and monitoring.
- 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.
Biosciences Fund can be used for:
- prototyping and development of product
- 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
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Eligible Applicants
To be eligible for the Biosciences Fund, applicants must be:
- based and headquartered in NSW3 and be one of the following:
- a company incorporated under the Corporations Act 2001 (Cth) (including a company limited by guarantee) that has an Australian Business Number (ABN);
- an Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander) Act 2006 (Cth);
- an individual or partnership who agrees to form a company under the Corporations Act 2001 (Cth) so that DEIT can enter into a legally binding Deed of Agreement; or
- a NSW public research organisation applying through its appropriate technology transfer office or the Chief Executive Officer (or equivalent) of the research organisation that will become a separate entity before entering into a legally binding Deed of Agreement with DEIT.
Applicants must hold the Intellectual Property or the rights to commercialise the device/system/innovation.
Timing
Applications close 20 March 2023.
