Industry support and attraction incentives

Discover how the Queensland Government and Australian Government support biomedical businesses through grants, incentives, and introductions to independent mentors and scientific partners.

Program	About the program	Type	Business stage	Level of government
Australian Business Growth Fund	The Australian Business Growth Fund (ABGF) provides growth capital for small to medium-sized Australian businesses looking to expand, grow and scale.ABGF can provide $5-$15 million of capital into growth-ready businesses for a minority stake of up to 49%.	Funding	Launch / Growth	Australian Government
Australia’s Economic Accelerator	Australia’s Economic Accelerator (AEA) supports industry-university research translation through grants designed to drive research into commercial outcomes. AEA Ignite provides funding of up to $500,000 for proof-of-concept projects and AEA Innovate provides up to $5 million for proof-of-scale projects.	Funding	Develop/Commercialise	Australian Government
Therapeutic Innovation Australia – Pipeline Accelerator	TIA has developed a Pipeline Accelerator voucher scheme to facilitate and encourage access to one or more TIA facilities. This scheme is intended to further reduce the cost of access to a specific capability for therapeutic development projects, by providing up to $50,000 with at least 50% matching funding (co-investment) by applicants.	Funding	Develop	Australian Government
Industry Growth Program	The Australian Government’s $392.4 million Industry Growth Program will provide advice and matched grant funding for small and medium enterprises (SMEs) undertaking innovative commercialisation and/or growth projects that will help build manufacturing capability in one or more of the Australian Government’s priority National Reconstruction Fund (NRF) areas. Projects in medical science will be eligible for the Industry Growth Program.	Funding	Commercialise	Australian Government
National Reconstruction Fund (NRF)	The National Reconstruction Fund (NRF) will provide finance for projects that diversify and transform Australia’s industry and economy. The NRF will provide finance to projects in priority areas, including medical science, to leverage Australia’s natural and competitive strengths. The NRF will provide a range of finance options including loans, equity investment and guarantees.	Funding	All	Australian Government
Queensland Biomedical Business Attraction Program	This program is a key initiative of the Queensland Biomedical 10-Year Roadmap and Action Plan. It's designed to attract interstate and international biomedical industry to access Queensland’s biomedical capabilities.	Funding	All	Queensland Government
National Health and Medical Research Council (NHMRC)	One researcher has the potential to improve millions of lives. NHMRC provide funding for research through grant systems with a transparent peer-review process to determine how funding is allocated.	Funding	Develop	Australian Government
Department of Industry, Science and Resources: Business innovation grants and initiatives	Boosting innovation in Australian businesses and building competitive industries through supporting research, entrepreneurship and commercialisation.	Funding	All	Australian Government
CSIRO Innovate to Grow: Health and Medical Technology	Innovate to Grow is a free 10-week virtual, self-paced learning program for Small to Medium Enterprises (SMEs) to investigate new R&D opportunities related to the Health and Medical Technology (medtech) sectors.	Services	Develop	Australian Government
Investment Support Scheme	The Investment Support Scheme is a rebate program for payroll tax and other state-managed taxes, designed to incentivise international and interstate businesses, with proven capability, to invest in Queensland through a transfer or expansion of operations. It is also open to Queensland-based companies considering reinvestment with a contestable investment decision.	Funding	Launch	Queensland Government
Strategic Investment Scheme	The Strategic Investment Scheme is designed to provide tailored assistance packages to Queensland based, interstate and internationally based business to support large-scale projects that result in significant economic benefits in terms of new jobs and wider supply chain and industry benefits.	Funding	Launch	Queensland Government
Industry Partnership Program	The Industry Partnership Program is a $415.5 million transformational industry development program that provides tailored assistance packages to develop projects that will strengthen local supply chains, strengthen sovereign capabilitiesand grow the footprint of Queensland’s industries, while creating jobs.	Funding	Launch	Queensland Government
Made in Queensland	The Made in Queensland program under the Queensland Government’s Advanced Manufacturing 10-Year Roadmap and Action Plan supports Queensland’s SMEs in the traditional manufacturing sector to become more internationally competitive and adopt innovative processes and technologies.	Funding	Launch	Queensland Government
Backing Queensland Business Investment Fund	The Backing Queensland Business Investment Fund (BQBIF) supports established small and medium businesses to innovate, realise their potential, and promote job creation in Queensland. BQBIF is partnering with growing Queensland companies to take the next big step in their business, create strong investment returns, and support the future of the Queensland economy.	Funding	Launch	Queensland Government
Enterprise Acceleration Fund	The Queensland Government will make $24 million in seed funding available to start-ups operating in the sunshine state through a newly created Enterprise Acceleration Fund. The $24 million fund will invest between $500,000 and $2.5 million in “innovative, early-stage” companies with the majority of their employees based in Queensland.	Funding	Develop	Queensland Government
Advance Queensland – Industry Research Fellowships	The Advance Queensland Industry Research Fellowships program supports researchers partnering with industry to complete original research that will have a positive impact on Queensland. The program is focused on establishing and/or maintaining meaningful collaboration between researchers and industry.	Funding	Develop	Queensland Government
Export Market Development Grant (EMDG)	The EMDG scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by Austrade, the scheme supports a wide range of industries to grow their exports in international markets.	Funding	Launch	Australian Government
Venture Capital	Access information on Australian Government Venture Capital programs developed forfund managers, investors or start-up to early stage businesses seeking venture capital. Programs and resources includesupport on how to prepare and pitchfor investment, access tax incentives and funds, and learn about available partnerships.	Funding/Services	Commercialise	Australian Government
Queensland Venture Capital Development Fund	The Venture Capital Development Fund (VCDF) managed by Queensland Investment Corporation (QIC)seeks to accelerate, develop and enhance the venture capital industry in Queensland by providing matched funding into appointed venture capital funds, funding accelerator programs and supporting appointed funds and accelerators through the VCDF Development Program.	Funding	Commercialise	Queensland Government
Medical Research Future Fund (MRFF)	The Medical Research Future Fund (MRFF) is an ongoing research fund set up by the Australian Government in 2015. Every year, the Government uses some of the net interest from this investment to pay formedical research initiatives. In December 2023, the fund grew to $22 billion.	Funding	Develop/ Launch/ Commercialise	Australian Government
Brandon BioCatalyst	Managed by Brandon Capital, Brandon BioCatalyst supports the development and commercialisation of early-stage biomedical discoveries originating from Australian and New Zealand member research organisations, providing both capital and expertise to guide the successful development of new therapies.	Funding	Commercialise	Australian Government
Cooperative Research Centres Projects (CRC-P)	CRC-P Grants provide funding for short-term industry-led research collaborations developing a product, service or process. Projects must solve problems for industry, benefit small to medium enterprises (SMEs) and include an education or training component.	Funding	Develop	Australian Government
Business Investment Fund	The Business Investment Fund (BIF) invests in innovative Queensland based small and medium-sized businesses with a proven product or offering and an established market presence to drive further growth and create new jobs. Funding is available between 2.5 million and 10 million.	Funding	Growth	Queensland Government
Biomedical Translation Fund	The Biomedical Translation Fund provides companies with venture capital through licensed private sector fund managers. This helps develop biomedical discoveries into tangible products, services and outcomes.	Funding	Commercialise	Australian Government
Ignite Ideas Fund	The Ignite Ideas Fund supports Queensland based small to medium businesses that have high-growth potential to undertake commercialisation projects that will: strengthen key industries in Queensland: diversify the Queensland economy: compete in domestic and global markets; engage and/or benefit regional Queensland: create new jobs, now and into the future.	Funding	Commercialise	Queensland Government
CSIRO Innovation Fund	CSIRO delivers programs and funding for start-ups, SMEs and researchers designed to remove common roadblocks to innovation.	Funding	Develop	Australian Government
Australian Research Council (ARC) Linkage Grants	ARC Linkage Projects support collaborative R&D projects with higher education researchers and other parts of the national innovation system.	Funding	Develop	Australian Government
R&D Tax Incentive	Biomedical businesses may be eligible for the R&D Tax Incentive which provides a tax offset for some of the costs of eligible R&D activities.	Funding	Develop	Australian Government
National Foundation for Medical Research and Innovation	The National Foundation for Medical Research and Innovation (NFMRI) partners with biomedical researchers and donors to identify, evaluate and support innovative and high-quality research projects with identified impact objectives.	Funding	Develop	Australian Government
CUREator	Aimed at supporting the development of Australian biomedical innovations, CUREator is a nationwide program offering grant funding for a select number of preclinical medical research and medical innovation projects, and clinical stage novel therapeutics.	Funding	Develop	Australian Government
Female Founders Co-Investment Fund	TheFemale Founders Co-Investment Fundis a pilot program which aims to support eligible businesses to leverage funding and secure new investment to build business capacity, and will: support Queensland female founders to grow their innovative businesses across a wide range of industries; increase the number of female founders participating in the Queensland innovation ecosystem.	Funding	Develop	Queensland Government
Trade & Investment Queensland (TIQ)	TIQ can assist biomedical businesses harness investment opportunities, buy Queensland goods and services, and take advantage of export opportunities in markets around the world. Online resources and a network of trade advisers are available to support Queensland businesses to launch into the market.	Services	Launch	Queensland Government
Workplace Health and Safety Queensland – Small Business Program	Workplace Health and Safety Queensland provides resources and services to help small businesses stay safe, healthy and productive.	Services	Launch	Queensland Government
Regional Services Network	Biomedical businesses looking for investment support or looking to grow a business can obtain assistance through the Department of State Development, Infrastructure, Local Government and Planning regional offices.	Services	Launch	Queensland Government
Project Facilitation	Officers can assist in providing a coordinated approach across all levels of government to do with project facilitation and investment facilitation.	Services	Launch	Queensland Government
Small Business Solutions	To assist in building your biomedical business, TAFE Queensland has a Small Business Solutions team dedicated to helping businesses design and implement the big ideas you have for your business through a series of workshops and one-on-one mentoring.	Services	Launch	Queensland Government
Business Queensland	Business Queensland provides information and support services to help Queensland businesses start, grow and employ. Events and workshops are regularly held throughout the state to help biomedical businesses boost their business by learning the skills required for business growth and preparing for market and investment.	Services	Commercialise	Queensland Government
Mentoring for Growth program	You can access volunteer business experts who provide insights and suggestions relating to challenges and opportunities in your business through the Mentoring for Growth program.	Services	Commercialise	Queensland Government
Clinical Trials Portal	If you are considering conducting pre-clinical and clinical trials, Queensland’s expertise and strength in this area can help accelerate the delivery of your product for testing. Experienced Queensland service providers can conduct your clinical trials to produce significant business value on costs and time, generating data that is acceptable in North America, Europe and Asia.	Services	Develop	Queensland Government
Intellectual Property Info Kit	To help protect your biomedical innovation, the Queensland Government’s Intellectual Property Info Kit and online tools will help you understand Australia’s intellectual property system and how to identify, protect and commercialise intellectual property. IP Australia’s online services portal will help you apply, register, renew and pay for intellectual property rights for biomedical patents, trademarks and designs.	Services	Develop	Queensland Government
Export Finance Australia	Export Finance Australia (EFA) provides finance expertise and solutions to small-to-medium businesses, corporates and governments to take on export-related opportunities.EFA is Australia’s export credit agency and can provide loans, bonds, and/or guarantees to businesses taking on global contracts or setting up international operations.	Services/Funding	Launch	Australian Government
Australian Small Business Advisory Services	Australian Small Business Advisory Services – Digital Solutions provides low-cost digital advisory services for small businesses to increase capability in selling online, social media and digital marketing, using small business software and online security and data privacy.	Services	Launch	Australian Government
Australian Landing Pads	Australian Landing Pads program provides market-ready start-ups and scale-ups the opportunity to land and expand in global innovation hubs.	Services	Launch	Australian Government
TradeStart	The TradeStart network assists small and medium sized exporters to achieve long term success in international markets. It offers exporters the combined resources of Austrade and partner organisations from export markets, providing local assistance and a direct link to Austrade’s services and overseas network.	Services	Launch	Australian Government
Export Council of Australia (ECA)	ECA’s ‘Introduction to Growing a Global Business’ course explores the international business plan in depth, with support from industry experts.	Services	Launch	Australian Government
Australian Trusted Trader	ATT provides Australian businesses involved in importing and exporting with an accreditation which enables them to streamline and simplify customs processes.	Services	Launch	Australian Government
Australian Business and Licence Information Service (ABLIS)	ABLIS is the Australian Government’s online search tool and will provide information about licences, registrations and permits you need to run your business.	Services	Commercialise	Australian Government
Industry Capability Network (ICN)	ICN is a business network that helps Australian and New Zealand companies grow through an online database and a network of regional consultants with access to large and small projects, partnership opportunities and supply chain development and channels to promote company capabilities to the business network. Contact ICN Queensland (QLD) at info@icnqld.org.au for information on Queensland products and services.	Services	Commercialise	Australian Government
The Australian Therapeutic Goods Administration (TGA) and SME Assist Program	The biomedical industry within Australia is underpinned by a high-quality and robust regulatory system and standards for the development of therapeutic and medical devices. The Australian Therapeutic Goods Administration (TGA) regulates and monitors therapeutic goods to ensure the commercial supply of products and services meet the highest international standards. https://www.tga.gov.au/ The SME Assist hub is designed to help companies and R&D groups developing new medicines and medical devices (including apps) understand their obligations. https://www.tga.gov.au/sme-assist	Services	Develop	Australian Government
Office of Drug Control	Office of Drug Control regulates and provides advice on the import, export and manufacture of controlled drugs to support Australia’s obligations under international drug conventions.	Services	Develop	Australian Government
Medical Device Partnering Program (MDPP)	The Medical Device Partnering Program supports the development of new, high-tech medical devices through facilitating collaboration between researchers, industry, end-users and government, and undertaking rapid research projects that demonstrate proof of concept and de-risk ideas.	Services	Develop	Australian Government
Office of the Gene Technology Regulator	The Office of the Gene Technology Regulator identifies risks posed by or as a result of gene technology and manages those risks by regulating certain dealings with genetically modified organisms.	Services	Develop	Australian Government
DMTC Ltd – Medical Countermeasures Program	The DMTC Ltd Medical Countermeasures Program is supported by CSIRO and the Department of Defence to advance the Australian development of technologies and products that will protect military and civilian personnel against a range of threats, emerging infectious diseases and pandemics.	Services	Develop	Australian Government

Disclaimer

Information is correct as of July 2023. Some programs may not currently be open for applications. This is not an exhaustive list, and applicants are encouraged to refer to administering organisations and funding bodies for further information.

Last updated: 07 Jun 2024

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