NSW invests $40 million in BioSF program to address health and environmental concerns

The NSW government’s new $40 million BioSF program aims to help develop and commercialise biological science products to address health and environmental challenges.

The four-year government investment program has been modelled after the Physical Sciences Fund (PSF), and will consider applications for grants targeting three priority industries. These include agriculture/agrifoods, medical and life sciences, and clean energy and waste.

NSW Minister for Science, Innovation and Technology Alister Henskens issued a statement on Wednesday describing the fund as a collaboration boon for researchers and agile companies.

“We want to foster fresh ideas and innovations that will address challenges in energy, health, the environment and waste, and grow successful businesses that create new jobs and industries that will help secure a brighter future for NSW,” Henskens said.

Through a new $40 million NSW Government program, startups will be supported to develop and commercialise problem-solving products, devices and systems in the biological sciences space.#InvestmentNSW #BioScience #BioSciences

— Investment NSW (@InvestmentNSW) January 18, 2023

Innovators such as biological sciences researchers, startups and entrepreneurs are encouraged to apply for grants, made possible through the Future Economy Fund, of which received a $703.4 million commitment in the 2022-23 budget.

Successful BioSF projects will target specific technology applications as set out in the state’s 20-year vision for research and development (R&D).

NSW chief scientist Professor Hugh Durrant-Whyte said the fund would leverage the state’s competitive advantages.

“This fund will support projects across the branches of the biological sciences including exciting and relatively new fields such as biomanufacturing, genetic engineering, synthetic biology and agrifoods,” he said.

This article was first published by The Mandarin.