Medical research is one of the core elements of the Australian Government’s $104 billion long term National Health Plan.
The Australian Government recently announced their $400 million investment in world-leading health and medical research projects for 2021 – including research into cancer, cardiovascular disease, mental health, indigenous health, and infectious diseases.
While this funding was closed for submissions last year, they are currently in the process of awarding $42 million for COVID research through the MRFF.
Funding opportunities for Australia
The Australian Government itself, conducts a proportion of health and medical research through its government agencies and departments such as CSIRO, Australian Academy of Health and Medical Sciences and The National Science & Technology Council.
Its main source of funding goes to higher education through the block grants system tied to the volume of each university’s research and number of research students, as well as through Medical Research Institutes (MRIs). These MRIs include the National Health and Medical Research Council (NHMRC) and the Australian Research Council (ARC).
There is also corporate-sponsored research which enables the Australian health industry to be competitive on the international arena.
Find out more about the Australian healthcare industry, and how Australia is an ideal healthcare partner for global medtech companies looking for new markets.
Investing in the future of medical research
The Medical Research Future Fund (MRFF) is a $20 billion long-term investment fund set up by the Australian Government in 2015. The fund is invested so the net interest pays for important health and medical research projects.
The MRFF funding is directed to four overall research themes – patients, researchers, research missions and research translation.
Where to find research & development, medical grants in Australia
There are several government bodies responsible for managing health and research grants in Australia.
National Health and Medical Research Council (NHMRC)
This is the nation’s leading expert body in health and medical research. The NHMRC identifies the major health issues for the period, in line with the requirements of the National Health ad Medical Research Council Act 1992.
Of these health issues, the NHMRC will decide how they will be dealt with and the strategy for medical research and public health research.
Visit the NHMRC Funding page on their website to learn more about their grant system and how funds are allocated.
Australian Research Council
A Commonwealth entity, the Australian Research Council (ARC) advises the Australian Government on research matters, administers the National Competitive Grants Program, and has responsibility for Excellence in Research for Australia (ERA).
ARC’s purpose is to grow knowledge and innovation for the benefit of the Australian community through funding the highest quality research, assessing the quality, engagement and impact of research and providing advice on research matters.
The National Competitive Grants Program, a significant component of Australia’s investment in research and development, is the main driver through which funds are sourced. They deliver approximately $800 million per year to the most dynamic researchers in Australia.
The Australian Research Council Grants page lists the different Grant program schemes and special projects. Applications for these grants are completed through GrantsConnect.
Department of Health
Australia’s health system provides quality, safe and affordable health care for all its citizens. The Department of Health is responsible for working towards better health for everyone. It is responsible for the development and delivery of policies and programs and to advise the Australian Government on health, aged care, and sport.
The Department of Health uses grants and tenders to pay other organisations to deliver health, ageing and sport activities and services on their behalf.
GrantsConnect – a centralised resource to find research & development, medical grants
The Australian Government has set up GrantsConnect to make it easy for businesses and organisations to find suitable, potential grants and access Commonwealth grant opportunities and related grant documentation.
GrantsConnect is a whole-of-government, centralised, web-based, grant information system. It is free to search and apply for medical grants through this system. Each grant has a specific application process and these are listed under each grant description.
Their GrantsForecast page advertises potential Grant opportunities with limited information and an estimated period of release for the grant. This is a source of information and an estimated period of release for new grants to help organisations forward plan their business development.
The Australian Government Business website for medical grants
Under their grants and programs, the business.gov.au website collates grants, funding and support programs from across government to help businesses build their skills, knowledge to grow and succeed. Simply answer their questions about your business and a number of programs and grants that match will appear on screen. Further details and application criteria are included.
External funding for medical research
There are also businesses and organisations who provide external funding for medical research. These external funding providers can be found here.
There are thousands of grants available for the Australian health and medical industry offered by both government and external funding providers. These funding options may help your organisation to find suitable research and development, and medical grants to future proof your business and open new and innovative opportunities.
Abdera Business Services have helped businesses across numerous areas in health both nationally and internationally set up business. With access to grants and tax concessions, Abdera can help you too – contact us now or call our office to speak us on +61 2 8916 6259.