The Research and Development Fund opens in late August 2021 through a competitive grant scheme and supports small-medium businesses (SMEs) and scaleups to commercialise products that address the health, social or economic impacts of the COVID-19 pandemic.
Eligible businesses
Small and medium-sized enterprises and scaleups that have:
- an ABN registered in NSW and is based in NSW
- at least 75% Australian ownership (and not more than 50% owned by another business)
- operated for at least 12 months
- at least $1 million in sales revenue or operating expenditure within the last 12 months
- a product that can be brought to market within 2 years
- the intellectual property rights to commercialise the product
- not already received government funding for the same stage of development of the product.
Eligible activities
The product must address the health, social or economic impacts of COVID-19, and demonstrate an existing prototype or proof-of-concept and a clear path to commercialisation.
The product must be in one of the specified stages of development, from lab validation through to the actual technology proven in an operational environment.
Funding
Funding is between $250,000 to $1 million, depending on the product's stage of development. The funding awarded is competitive and merit-based.
Funding can be used for purposes including:
- Manufacturing
- Conducting market and product assessments
- Salaries and access to external expertise that is directly related to delivery of the project
- Commercialisation strategies and commercial feasibility studies
- Specialist equipment or infrastructure necessary to progress the project.
Status
Opens late August 2021.
The material contained in this publication is in the nature of general comment and information only and is not advice. The material should not be relied upon. Please contact your local Moore Australia office to discuss your specific circumstances or case. Moore Australia, any Australian Member, any related entity of those persons, or any of their officers employees or representatives, will not be liable for any loss or damage arising out of or in connection with the material contained in this publication.