The Biomedical Assistance Fund is a $2 million initiative that provides successful recipients with matching funding to meet a meaningful progression in a product development plan that will greatly enhance the possibility of attracting follow-on funding.
Grants of between $50,000 and $250,000 (excluding GST) will be awarded to progress innovative technologies with commercial potential to a value-adding or risk-reducing technical milestone.
To be eligible for a grant from the Biomedical Assistance Fund applicants must be a Queensland-based business, research organisation, or technology transfer/commercialisation entity of a research organisation and:
- have a valid ABN and be GST registered, or have evidence of a valid exemption
- be prepared to submit progress reports and post-completion monitoring reports
- be willing to enter into a binding financial agreement with the State of Queensland
- be able to provide accountant-prepared (CPA/CA qualified) financial statements.
A project will only be eligible for funding if it is directly related to progressing a biomedical project milestone that represents a significant progression.
Applications are now closed
Applications closed at 11am on 2 November 2017.