Up to $32M is available from REDI to facilitate connections between industry, universities, registered training organisations and government entities and deliver mentoring and exchange programs for researchers.
Researcher Exchange and Development within Industry Initiative (REDI)
The Researcher Exchange and Development within Industry Initiative (REDI), is supported by the Medical Research Future Fund. The objective of the fund is to strategically fund research and address national priorities in a cohesive and coordinated way. We will fund one service provider who will be responsible for:
- facilitating connections between industry, universities, registered training organisations and government entities; and
- delivering, potentially in collaboration with joint-service partners’ relevant training programs, industry placements, mentoring and exchange programs for researchers.
The objective of REDI is to provide researchers with a diverse range of experiences and exposure to entrepreneurism with the aim of strengthening Australia’s success with translation and commercialisation to identify innovative ways to prevent, diagnose and treat disease.
The Australian Government has announced a total of $32 million over four years from 2019-20 to 2022-23 for this grant opportunity:
- $8 million in 2019-20
- $10 million in 2020-21
- $10 million in 2021-22
- $4 million in 2022-23.
The grant amount will be up to 100 per cent of eligible project costs.
The maximum grant amount is $32 million.
To be eligible your project must:
- include eligible activities and eligible expenditure
- align with the goals and objectives of the Medical Research Future Fund
- deliver on the responsibilities, objectives and outcomes
Eligible activities must directly relate to the project and can include:
- identifying health and medical research disciplines that lack industry collaboration
- assessing skill levels required for researchers and delivery of the related training, mentorship, placement and/or exchange opportunities to support researchers to be successful in research translation and commercialisation of innovative treatments and cures that benefit Australians
- establishing connections between industry and academia and government organisations
- undertaking a selection process
- providing support to researchers and registered training organisations (such as universities) to assist with arranging fellowships, mentoring, training and exchange programs for researchers
- managing industry placements for researchers that focus on discovery, translation and commercialisation of relevant research
- facilitating collaborative projects between researchers and industry, and personnel exchanges between disciplines; and
- publicity and marketing to encourage uptake of activities to support medical research and innovation.
Eligible expenditure items can include:
- direct labour costs of employees you directly employ on the core elements of the project. We consider a person an employee when you pay them a regular salary or wage, out of which you make regular tax instalment deductions
- contract expenditure is the cost of any agreed project activities that you contract to others
- domestic travel limited to the reasonable cost of accommodation and transportation required to conduct agreed project activities in Australia
- staff training that directly supports the achievement of project outcomes
- the cost of an independent audit of project expenditure up to a maximum of 1 per cent of total eligible project expenditure
- other eligible expenditure as approved by the program delegate
To be eligible you must:
- have an Australian Business Number (ABN)
- 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).
REDI can only accept applications where you provide:
- evidence from your board (or chief executive officer or equivalent if there is no board) support for the project and that you can complete the project and meet the costs of the project not covered by grant funding
- a project plan
- a detailed project budget.
REDI cannot waive the eligibility criteria under any circumstances.
Applications close 9 April 2019.