Home topics news Credit: CDC News News New funding opportunity for bioscience startups as NSW launches $40 mil fund Yajush Gupta January 20, 2023 The government of New South Wales (NSW) in Australia has launched a $40 million fund to support innovative start-ups in the biosciences industry. The fund is aimed at fostering the growth of new companies in the sector to drive economic development and create jobs in the state. The funding will be used to support research and development, commercialisation, and the growth of early-stage bioscience companies. This move is expected to attract further investment, talent and innovation in the bioscience field in the state. The BioSF, or Biosciences Fund, is a new initiative launched by the NSW Government to support innovative startups in the biosciences industry. The fund, worth $40 million, will be used to invest in and support companies working on projects that align with the state’s Industry Development Framework. The framework identifies three priority industries for the state: agriculture/agrifoods, medical and life sciences, and clean energy and waste. In order to be eligible for funding, companies must demonstrate that their project targets one of these three priority industries and aligns with specific technology applications outlined in the 20-Year R&D Roadmap. This roadmap is a comprehensive plan for research and development in the state, and it outlines the technology applications that the government believes will be most important for the state’s growth and development in the coming years. By aligning with the roadmap, companies can ensure