The 2022 NSW Physical Sciences Fund is now open for applications
The NSW Physical Sciences Fund (PSF) is a competitive development and commercialisation program for technological innovations in NSW.
NSW has great strengths in research across a wide range of scientific fields. The PSF aims to build on these strengths by supporting the translation of research into devices and systems ready for commercialisation.
The PSF is a $5 million fund that aims to deliver significant social, economic and environmental benefits to NSW by providing financial support for the development of new and innovative devices and systems within NSW, across the branches of the physical sciences and engineering, including physics, chemistry, astronomy and the earth sciences.
CONTENTS
PURPOSE
The purpose is to obtain significant economic, environmental and social benefits to NSW by providing financial support to develop new and innovative devices and systems within NSW across the branches of physical science and engineering, including physics, chemistry, astronomy and the earth sciences
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TIMELINE
| Date | Description |
|---|---|
| March 4 2022 | Preliminary Applications Open |
| May 2 2022 | Preliminary Applications Closed |
| July 2022 | Shortlisted applicants present to the Expert Panel |
| August / September 2022 | Full Applications Requested |
| October 2022 | Shortlisted applicants present to the Expert Panel |
| December 2022 | Successful applicants announced. |
Please note that the dates are subject to change.
FUNDING
The funding awarded to each successful applicant will be merit-based and will depend on the overall quality and quantity of applications received.
- Funding will be in the range of $200,000 to $5 million over a period of one to three years. The funding will be distributed in a single payment to each successful applicant.
- Funding from the RAAP will take the form of a cash contribution following the execution of a funding deed between the applicant and Investment NSW (the Agency).
PRINCIPLES
- Project must demonstrate:
- how the device/system will solve a problem,
- it’s impact/benefits to NSW,
- an existing proof of concept,
- a clear path to commercialisation
- Funding can be used for commercialisation, manufacturing and protection of IP
- Funding will be tailored towards a companies current needs
- Not suitable for very early stage ventures
ELIGIBILITY
The NSW Physical Sciences fund is open to the companies meeting the following criteria:
- a financially viable company or commercial enterprise based in NSW (e.g. location of manufacturing jobs, headquarters based in NSW, NSW investment); have an Australian Business Number (ABN); and is a legal entity; or
The project must:
- seek to progress a device or system along the commercialisation pathway
- be innovative (i.e. new to market)
- be headquartered in NSW and demonstrate that most of the project activities will take place in NSW
- deliver economic, social and/or environmental benefit to NSW.
Applicants must hold the Intellectual Property or the rights to commercialise the device/system.
Applicants eligible for and/or who have received funding from the Medical Devices Fund are not eligible for the Physical Sciences Fund.
Get your NSW Physical Science Fund applications in now, time is limited.
Services
Ryan can assist with services such as:
- Scope your potential to claim various grant programs
- Assist with the preparation and lodgement of grant applications
- Review or provide a health check on your internally prepared grant applications
- Establish record-keeping practices as required under various grant programs
- Provide prepayment loans against future cash refunds under the R&D Tax Incentive
- Keeping industry informed on all new Government policy and grant initiatives
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