Proposed projects should focus on the development of clinical and/or commercial evidence to significantly improve the project’s ability to commercialise, raise growth capital and/or execute on a market entry or growth strategy.
Two sequential projects will be supported with relevant milestones and go-no points defined within each.
- Stage 1 (4-6 months): Each intake of 5 SMEs shares in a pool of $1.5M in Stage 1 funding.
Activities will focus on identifying key risks through a ‘working backwards’ model and, where possible, addressing them using third party expertise and the expertise of each company’s IAP. Outcomes of Stage 1 activities and the Stage 1 Investor & Customer Deal Flow Days will be used to inform Stage 2 project activities.
- Stage 2 (14-18 months): Each intake of 5 SMEs shares in a pool of $7.5M in Stage 2 funding.
Activities will focus on achieving key clinical and commercial milestones which will drive institutional investment and/or enterprise customer uptake. Project activities will be focused on significant pieces of work which will have a clear and demonstrable impact on the growth trajectory of each cohort company.
Note: Stage 2 projects will be subject to review by the IIC, and it is expected that some companies may not progress to Stage 2.
Additional funding opportunities
Follow-on funding from unallocated Stage 1 and 2 funds will be awarded on a competitive basis across intakes. An SME is eligible for up to a maximum value of $5M in funding awarded for approved across Stage 1, Stage 2 and follow-on funding activities.
Types of projects
Eligible activities include but are not limited to:
Product Development
- Product verification and validation
- End-user studies
- UX/UI development to drive improved clinical outcomes
- Intellectual property strategy
Clinical Developments and Outcomes
- Clinical trial planning and protocol design
- Clinical trial/study design and execution
- Clinical trial data analytics
- Efficacy in a clinical or industry setting
- Voice of end-user(s) in clinical settings
Manufacturing
- Manufacturing assessments
- Design for manufacture
- Scaleup manufacturing plans
Commercial Strategy, Evidence and Outcomes
- Go-to-market planning
- Voice of paying customer studies
- Commercial pilot programs
- Health economics assessments
- Business validation in end-user settings
- International market strategy
- Health data and independent market intelligence
- Business and financial modelling
Regulatory and Reimbursement
- Independent regulatory strategy and audits
- Regulatory certification or roadmap to certification (e.g., TGA, FDA)
- Reimbursement and pricing strategy, verification and audits
- Cybersecurity
- Data collection, storage, security and privacy
- Quality Management Systems planning
- Multi-jurisdictional compliance planning
Ineligible activities include expenses not directly related to the projects approved within the ANDHealth+ program. ‘Business as usual’ operations will not be supported.
Ineligible activities include (but are not limited to):
- General and administration costs for day-to-day business expenditure
- Non-related staffing or contracting costs including the time commitment of applicant’s staff to supporting project activities. Any funding for internal staff towards project activities will be required to be pre-approved, and timesheets may be required
- Ongoing software and hardware development
- Sales, marketing, and branding costs
- Fees paid to incentivise customers to use/purchase your product or services
- Costs of any travel and associated quarantine/medical costs.
- Fees to government agencies such as ASIC.
Project funds are managed and paid directly to third-party suppliers by ANDHealth on behalf of successful applicants where possible. In certain situations, project funds may be paid to participating companies directly for expenditure on agreed outcomes. Participating companies will be required to provide verification of expenditure to ANDHealth.
Please note: Third-party activities supported by ANDHealth+ are carried out via a competitive tender. The tender process and contracting are supported by the applicant’s ANDHealth project support team. Within the application, applicants should focus on outlining the proposed activities and targeted outcomes, rather than including specific proposals from third-party providers.
ANDHealth may determine that expenditure is ineligible and not directly related to the specific project at its discretion.
