Researcher Exchange and Development within Industry Initiative (REDI)

Overview

Up to $32M is available from the Researcher Exchange and Development within Industry Initiative (REDI) to facilitate connections between industry, universities, registered training organisations and government entities and deliver mentoring and exchange programs for researchers.

Background

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.

Objective

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.

Funding

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.

Eligible Projects

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

Eligible Applicants

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.

Timing

Applications close 19 September 2019.

More Information

Source
REDI Guidelines

What is the #1 grant for start-ups?

12,000+ companies access the R&D tax incentive per year that yields a CASH REBATE of up to 43.5%.
This might be perfect your start up.
Do you want to know more?

Bulletpoint is a Melbourne-based consultancy specialising in guiding businesses through the complex process of the R&D tax incentive. With a decade of experience under our belt, we’re proud to be led by Australia’s highest-rated R&D tax consultant. We’ve successfully lodged over 500 R&D claims, demonstrating a proven track record.

Our approach is straightforward and personable, focusing on cutting through the jargon to help businesses truly understand the definition of R&D in government terms. We’re passionate about what we do, and our clients appreciate this, often commenting on the difference our expertise has made to their businesses. They’ve praised us for uncovering grants they wouldn’t have otherwise known about and for making the whole process less stressful for them.

We’re proud to have an average rating of 4.8 stars from over 250 Google reviews. Despite our success, we continue to strive for improvement, learning from every piece of feedback we receive.

At Bulletpoint, we excel in helping businesses navigate the complexities of the R&D tax incentive process, ensuring they reap the benefits they deserve. As experts in our field, we’re well-versed in what works and what doesn’t when it comes to aligning businesses’ perceptions of R&D with the government’s eligibility criteria.

So, if you’re looking for accessible expertise and a proven success rate, you’ll find it with us at Bulletpoint. We’re ready to guide you through the R&D tax incentive process with a blend of professionalism and personality, ensuring your experience with us is not just successful, but enjoyable as well.