A number of grants, funds and tax incentives available to the MTP sector in Australia to support the growth and commercialisation of our innovative, translational research for a thriving R&D pipeline.
Australia has some of the most generous tax incentives for investment in innovative start-ups. The Australian Governments R&D Tax Incentive program provides businesses with generous tax reductions (up to 45%) to create greater opportunities to develop innovative products, processes and services. Visit the AusIndustry R&D Tax Incentive Snapshot for more information on tax offsets and eligibility.
The Australian Federal Government’s National Innovation and Science Agenda also offers a $250 million Biomedical Translation Fund to invest in promising biomedical innovation and commercialisation, assisting in the transition from research to consumer product. This fund helps to bridge the gap between research and commercialisation, where many programs tend to fall through the gaps due to lack of funding.
The Australian Department of Health’s $20 billion fund Medical Research Future Fund complements work by the National Health and Medical Research Council, Commonwealth Science Council and the Biomedical Translation Fund to improve health outcomes and support strong partnerships between researchers, healthcare professionals, governments and the community.
See more funding available to the Australian MTP sector.