Queensland-based biomedical companies, universities and research institutes are invited to apply for the Queensland Biomedical Business Attraction Program’s (QBBAP) latest funding round.
The Queensland Department of State Development and Infrastructure has opened a fourth round of its QBBAP, which will provide up to $1.5 million in funding, as announced by Minister the Hon. Grace Grace in Queensland Parliament in early March.
The QBBAP (previously the Queensland Biomedical Voucher Program) is designed to attract interstate and international biomedical industry to access Queensland’s biomedical capabilities. The programme supports eligible Queensland-based biomedical companies, universities and research institutes to provide eligible biomedical services to an interstate or overseas client at a reduced cost.
QBBAP will provide funding to meet up to one-third of the cost of providing the services, while the client will pay at least two-thirds of the fees for the proposed services, up to a cap of $250,000 per project (excluding GST).
QBBAP is a key initiative of the Queensland Biomedical 10-Year Roadmap and Action Plan designed to attract interstate and international biomedical industry to access Queensland’s biomedical capability.
Eligible businesses must have a physical office in Queensland, be operating for at least 12 months, hold a valid ABN, be GST registered, and provide services to an interstate or overseas client.
Applications for the QBBAP are now open and due to close at 5.00pm AEST on Friday, 31 May 2024.
An expert panel will then assess applications against criteria that will identify projects which offer the greatest benefit to the local biomedical industry and to Queensland. Successful applicants are expected to be announced in August 2024.
For further information, including applicant guidelines, FAQs and template agreement, and to access the online application form, visit the Department’s website.
Any queries about the programme can be directed to the Department’s Biomedical Sector Team at biomedical@dsdilgp.qld.gov.au.