The Federal Health Minister, the Hon. Greg Hunt, has announced a new $22.3 million Biomedical Translation Bridge (BTB) grant opportunity under the Medical Research Future Fund (MRFF) to support one or more organisations to fund and nurture early stage health and medical research ventures to reach proof-of-concept stage with potential to attract further capital and support.
The Fund is designed to complement existing health, medical research and innovation funding to improve health outcomes through new grant opportunities. Grant funding targets identified national priorities determined by the independent Australian Medical Research Advisory Board consistent with the Medical Research Future Fund Act 2015.
The BTB grant opportunity will provide up to $22.3 million over four years to support eligible organisations and will fund up to 100 percent of eligible expenditure.
The Government is calling on eligible organisations – medical research institutes, universities, corporate Commonwealth entities or corporations (including businesses and not for profits) - to apply if they: have an Australian Business Number (ABN); are registered for the Goods and Services Tax (GST); are incorporated in Australia.
To be eligible, organisations must meet merit criteria, including demonstrating they can select, provide funding to, and manage a portfolio of ventures; provide mentoring and networking capabilities to aid in the development of these ventures and solicit and secure philanthropic donations and third party sponsorship or co-investment and then provide this to the selected ventures to aid in their development.
The managing organisation will be expected to execute and manage contractual arrangements with the selected ventures (between $200,000 and $1 million with a maximum duration of three years) including terminating funding and support for ventures that fail to progress and be able to start in early 2018–19.
Applications will close 5.00pm AEST Tuesday 21 August 2018. More information can be found online.