Queensland-based biomedical businesses interested in attracting new domestic and international clients can now apply for funding from Round 2 of the Queensland Biomedical Voucher Program.
The program offers up to 50% of the fees that a Queensland biomedical provider would normally charge a national or international client to develop the client’s biomedical product in Queensland, up to a cap of $250,000 (with the client paying the other 50%).
Services that are eligible for funding include:
- design development and validation
- prototype building and testing
- contract development and/or manufacturing
- contract research, specialist advice or professional services
- commercialisation advice and services
- the cost of small items of plant and equipment needed to provide the biomedical services.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said that Round 1 of the program had attracted a Canadian company and 3 interstate businesses to access Queensland’s biomedical capabilities.
‘Our Round 1 funding support of $579,367 (excluding GST) leveraged impressive co-funding of $4,861,161,’ Mr Dick said.
‘This is a significant inflow of capital and we expect it will boost future collaborations and create opportunities for other Queensland-based businesses who can assist in commercialising new biomedical products.
‘We hope Round 2 is equally successful in bringing customers and capital to Queensland and embedding our world-class biomedical infrastructure and capabilities in the national and international biomedical product value chain.’
Round 1 recipients included Patheon, which is now providing services to Montreal-based Forbius to develop an antibody drug to help treat rapidly progressing cancers, and to Sydney-based DendroCyte for its BioTech project, which will see the development of a new monoclonal antibody to improve bone marrow transplant outcomes.
Businesses interested in applying should read the program guidelines first.
Applications are due 12 noon Thursday 27 June.
An expert panel will then assess applications against criteria that will identify projects that offer the greatest benefit to the local biomedical industry, and to Queensland.
Biomedicine is identified as one of Queensland’s emerging export strengths in the Queensland Trade and Investment Strategy 2017–2022.
TIQ is working with a number of Queensland’s biomedical businesses to explore their export opportunities.