NSW Biosciences Fund: What you need to know

The Biosciences Fund is a $3.5 million, competitive biological sciences commercialisation program funded by the NSW Government, and has been designed to address gaps in the product life cycle between early-stage research and mature investment opportunities.

The overall objectives of the fund are to:

  • Improve commercialisation opportunities for NSW-based start-ups and businesses
  • Provide financial support to progress the development of new and innovative devices and systems across the branches of the biological sciences, including biomanufacturing, genetic engineering, synthetic biology and agrifood
  • Realise benefits from innovation in NSW.

The fund targets products or systems within the Technology Readiness Level (TRL) range of three to seven and aims to help them move along the TRL scale, commercialise the applicant’s idea and enable them to attract large-scale private investment. The minimum grant amount is $200,000 with the maximum of $2,000,000.

Eligibility

To be eligible for the program applicants must:

  • Have an Australian Business Number (ABN)
  • Be registered for the purposes of GST
  • Be headquartered in NSW
  • Be one of the following:
    • A company incorporated under the Corporations Act 2001 (Cth) (including a company limited by guarantee)
    • An Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and/or Torres Strait Islander) Act 2006 (Cth)
    • An individual or partnership who agrees to form a company under the Corporations Act 2001 (Cth) so that the NSW Premier’s Department can enter into a legally binding Deed of Agreement
    • A NSW public research organisation or not-for-profit organisation applying through its appropriate technology transfer office or the Chief Executive Officer (or equivalent) of the organisation that will become a separate entity before entering into a legally binding Deed of Agreement with the NSW Government.
  • Hold the intellectual property or the rights to commercialise the device, system or innovation
  • Apply for one project per funding round.

Joint applications between a business entity and research-based organisations (including universities) are encouraged.

For a grant activity to be eligible, it must:

  • Have a maximum project period of two years
  • Seek to progress an innovation along the commercialisation pathway
  • Have an existing prototype or proof-of-concept
  • Be between TRL three to seven
  • Demonstrate why sufficient funding for the entire project cannot be accessed from alternative sources and that the project would not proceed at the proposed scale in NSW without government support.

Eligible costs can include:

  • Prototyping, product development and piloting studies
  • Manufacturing and/or scaling
  • Conducting market research, testing and trials
  • Regulatory approvals and other relevant certifications
  • Salaries and access to external expertise that is directly related to delivery of the project
  • Commercialisation strategies and commercial feasibility studies
  • Project consumables directly related to delivery of project outcomes
  • Specialist equipment and/or infrastructure necessary to progress the project
  • Intellectual property protection or advice.

Application process

Stage One applications are due 1:00 pm AEST 1 May 2025. Applicants shortlisted from Stage One are then invited to Stage Two to submit a full application by 1:00 pm AEST 17 September 2025.

How BDO can help

BDO has a track record of successfully securing numerous government programs for a range of clients.

If you have any questions regarding the NSW Biosciences Fund or any other government grant programs, please contact the R&D and Government Incentives team.