Radium Capital, Australia’s leader in R&D finance, has announced plans to lend $400 million to Australian innovators over the next 12 months.
The company has deployed more than $900 million to companies undertaking R&D over the last eight years through Radium Advances, which allow companies to access their R&D Tax Incentive refunds early.
Managing Director Jeremy Loftus said he was proud of the role Radium Capital had played in enabling Australian innovators to get their world-changing ideas to market.
“We’ve been working tirelessly for years to support Australian innovators with non-dilutive capital and are immensely proud of the critical, pioneering impact we’ve had on Australian R&D,” said Mr Loftus.
“With $400 million available to deploy over the next 12 months, we have the opportunity to deliver significant impact for Australian innovators. We are excited about the number of companies we have the unique capability to support, from small startups with a great idea to established ASX-listed companies with large R&D functions.”
Radium said its non-dilutive financial solutions have helped more than 1,000 Australian businesses unlock their expected R&DTI refund early to accelerate commercialisation, reduce capital outlay, smooth year-round cash flow, and attract other funding sources.
Mr Loftus said it was positive to see the growing awareness of R&D finance and the vital role it played in the innovation funding landscape.
“We’ve seen a huge uptick in interest over the last three years as R&D lending has become more mainstream. When Radium came onto the market in 2017, it took us over six months to write our first $10 million in loans. Now, we do that amount roughly every couple of weeks.
“More and more businesses are realising they can leverage Radium’s financing solutions to strategically boost their R&D budget, delay a capital raise, improve their offering to investors, or provide cash when they need it the most, without having to wait up to 18 months for their R&DTI refund or diluting their equity in the business,” he said.
We are proud to enable research and development that has the potential to change lives across Australia and the world, while also creating jobs, building sovereign capability and strengthening the Australian economy,” added Mr Loftus.