National Health and Medical Industry Growth Plan – Frontier Health and Medical Research (PDF 78 KB)
The Government will invest $1.3 billion in the National Health and Medical Industry Growth Plan. The Government will provide $240 million over five years to establish a landmark program for researchers and collaborators to support innovative ‘out of the box’ ideas and discoveries. It will unlock groundbreaking research which promises new treatments and technologies to improve health, and open new markets for industry growth.
The program will operate under a two stage process:
- Stage one will involve a competitive expression of interest, where researchers articulate their idea and its merit, and demonstrate its novelty, competitiveness and transformative nature, and its potential for partnerships. Successful applicants will have approximately one year and $1 million to advance their idea, ready to put forward for potential stage two investment.
- Stage two will support the best applicants to realise a new frontier in health and medical research and build new industry ecosystems through up to five years of funding – ranging from $10 to $20 million per year.