Innovation Seed Fund for Western Australian Innovators

Deadline: 2-May-22

The Western Australian (WA) Future Health Research and Innovation (FHRI) Fund has launched the Innovation Seed Fund to provide the opportunity for WA innovators to develop and commercialise their innovations, create high-level health sector jobs and enhance the production/manufacturing capacity of the State.

Funding will be provided on a competitive basis to innovators with early-stage proposals for novel processes, products and/or services that demonstrate potential to be commercialised and that may have a major impact on the health and wellbeing of the WA community.

The Seed Fund has been designed to bridge the gap in access to early stage funding in WA and to ‘prime’ the commercialisation pipeline, providing the opportunity for start-ups to be more competitive in securing follow-on funding and developing into sustainable

businesses.

Funding will be targeted towards early stage start-ups for activities that could significantly de-risk, or validate, innovations with commercial potential, and make them more attractive to further investment.

Funding will be provided on a competitive basis to innovation proposals that demonstrate potential to develop and commercialise novel (new) processes, products and/or services that may have major impact on the health and/or wellbeing of the WA community. The

innovation may result in incremental or transformative/disruptive change.

Objectives

Increase the number of new health and medical innovation start-up companies in WA.
Advance the innovation maturity level of the majority of funded innovations.
Improve the success of WA innovation initiatives in accessing additional funding to assist in taking the innovation to market.

Funding Information

Funding amounts of between $250,000 to $500,000 are available to successful applicants to finance an innovation activity to be completed within no longer than a two-year period.

Eligibility Criteria

To be eligible for this Program all of the following criteria apply:

Applications must be submitted through a Responsible Entity which:
- has an active Australian Business Number (ABN)
- has a physical and operational presence in WA.
The funding must not constitute the entire financial base of the Responsible Entity.
The Innovation Lead applicant must:
- be an Australian citizen or permanent resident in Australia
- reside in WA for the period of the grant
- be employed by the Responsible Entity for the period of the grant
For the purposes of this Program, ‘employment’ includes the following:
- employee of the Responsible Entity
- honorary position at the Responsible Entity
- adjunct status at the Responsible Entity that has an affiliation agreement with the employing entity.
- the Responsible Entity is required to clearly identify the employing entity.
have no outstanding reports for any RIO or FHRI Fund grant funding programs from any years (excluding authorised extensions).