About the Medical Research Commercialisation initiative
The Medical Research Commercialisation initiative will provide $450 million over
10 years between 2024–25 and 2033–34.
The initiative will build on previous support for projects with commercial potential (particularly from small and medium-sized enterprises). It will focus on supporting research discoveries, including for novel or repurposed drugs, devices and digital health technologies, as they progress from proof-of-concept through to clinical implementation.
This initiative supports:
- BioMedTech Horizons, which funds innovative and collaborative health technologies. It drives discoveries that address key health challenges towards proof-of-concept and commercialisation, maximising entrepreneurship and idea potential ($45 million over four years from 2017-18; closed for new funding support)
- the Biomedical Translation Bridge, which funds and nurtures early stage health and medical research to reach proof-of-concept with the potential to attract further capital and support. Research will have secured at least matched funding from third-party sponsorship or co-investment ($22.3 million over four years from 2018-19; closed for new funding support)
- Early Stage Translation and Commercialisation Support, a $79 million activity providing funds to support early stage Australian medical research and medical innovation projects with commercial potential ($79 million over three years from 2020-21; $19.75 million per Stream)
- BioMedTech Incubator, a $50 million activity intended to improve the health and wellbeing of Australians by increasing the number of innovations, novel drugs, novel uses for existing drugs, innovative medical devices and/or digital health technologies that have progressed through the early stages of research and development to the point where they are ‘de-risked’ and attractive to private investment or commercialisation ($50 million over two years from 2022-23).
Why it is important
It is hard to turn a scientific discovery into a medical product that’s ready for clinical use. Taking a project from an idea to a final product is a long and expensive process.
This initiative is important because it develops Australia’s world-class research into real treatments, drugs and devices to benefit Australians.
Objectives
The objective of this initiative is to support early stage health and medical research and innovation in Australia through to proof-of-concept and beyond, providing opportunities for commercialisation.
Meeting our objectives
We will monitor the initiative in accordance with the principles and approach detailed in the MRFF Monitoring, evaluation and learning strategy.
Who we work with
The Medical Research Future Fund (MRFF) funds the initiative.
Our Health and Medical Research Office oversees this and other MRFF initiatives.
MTPConnect delivers the BioMedTech Horizons and Biomedical Translation Bridge.
The Early Stage Translation and Commercialisation Support activity is delivered through four Streams by the Medical Research Commercialisation Fund, ANDHealth and MTPConnect.
Apply for funding
View the MRFF grants calendar to see which grants are open, when applications close and when we expect to award funding.
Register with GrantConnect to receive notifications about future funding opportunities under this initiative.
Monitoring, evaluation and learning
In 2020, we commissioned a review of the medical research commercialisation landscape in Australia, to map existing government initiatives and understand the sector’s views on:
- existing government funding support for the commercialisation of medical research and any perceived gaps
- the impact of MRFF initiatives on improving the commercialisation of research
- how institutions have positioned themselves to make the most of medical research and innovation commercial opportunities
- other barriers to research commercialisation.
Read the outcomes of the Medical Research Commercialisation Landscape report.
Learn more about MRFF monitoring, evaluation and learning.
Grants awarded
See a list of all MRFF grant recipients.
Contact
For more information contact us.
Medical Research Future Fund (MRFF) contact
