Western Australia’s health and medical life sciences industry is set to receive a boost with applications now open for the Innovation Booster Grant (IBG) and Commercialisation Bridge Grant (CBG).
The IBG has been designed to specifically support early-stage founders in the sector by covering up to 80% of the costs for testing new ideas and boosting capabilities, supporting them to expand and create new jobs – 20% matched funding commitment from applicants is required. Applicants must demonstrate they operate within the health and medical life sciences sector to qualify for this IBG and CBG round.
Grants of up to $40,000 are on offer for those wishing to access professional skills, services, or knowledge, to advance their innovative idea overcoming some of the barriers on the path to commercialisation.
“It is an exciting time to be in WA’s health and medical life sciences sector with the popular Innovation Booster Grant and Commercialisation Bridge Grant now being offered exclusively to the industry,” said WA Medical Research and Science and Innovation Minister, Stephen Dawson.
“This will ensure the sector continues to grow and provide crucial support to local start-ups across the State.
“The CBG has been most helpful in assisting companies move through the period where operations have begun but revenue is still lagging.”
Since 2022, the two grants have awarded more than $8 million across 176 IBG and CBG projects.
Previous biomedical recipients of the IBG have used the funding towards intellectual property costs for a novel preeclampsia risk test, and research and development in a precise and accessible heart diagnostics tool.
Meanwhile, the CBG offers grants of up to $200,000 to assist companies in bridging the gap between a commercialised innovation and a sustainable, scalable business, thereby creating more jobs for the State.
The grant will provide access to product, team, intellectual property and commercialisation readiness. A 50% matched funding commitment is required for the CBG.
The New Industries Fund IBG, CBG rounds will still be on offer for those outside of the biomedical sector later in the year.
For more information and to apply, see: WA.gov.au | Health and Medical Life Sciences industry: Innovation Booster Grant & Health and Medical Life Sciences industry: Commercialisation Bridge Grant
Applications close on 22 May.
