The R&D Fund supports small and medium-sized enterprises (SMEs) and scaleups to commercialise products that address the health, social or economic impacts of the COVID-19 pandemic.
The objective of the R&D Fund is to stimulate the development and commercialisation of innovative products that benefit the people of NSW, with possible nationwide and global impact.
The R&D Fund targets products within Technology Readiness Level (TRL) 4-9 to help them move along the TRL scale, enable them to attract large-scale private investment, or expand into global markets.
Who is this for?
– Small and medium-sized enterprises and scaleups
What are the funding opportunities?
– It is a $6 million single-round competitive scheme administered by Investment NSW.
The funding awarded to each successful applicant will be merit-based and will depend on the overall quality and quantity of applications received.
Funding will be in the range of $250,000 to $1 million, depending on the product’s stage of development.
Funding can be used for purposes including:
– 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.