The Research, Commercialisation and Start-up Fund (RCSF) supports collaboration between businesses, researchers and universities to solve industrial problems, commercialise new products and services, attract investment into research and research infrastructure into the State and encourage the establishment and growth of start-ups.
The Financial Services Development Program aims to foster collaboration between the financial services industry and research sector and will support this industry by:
- Supporting research into the financial services sector (and encouraging interdisciplinary research),
- Assisting the development of new financial services technologies and products,
- Encouraging collaboration between companies and research institutions; and/or
- Providing opportunities for post-graduate students and early-career researchers to conduct research in an industry setting (placements and internships).
Under Stream 1 of the RCSF, the Department for Innovation and Skills (Department) is calling for proposals for projects that result in new innovations, products or solutions to problems in the finance and fintech sectors.
Applicants must meet the following criteria to be eligible:
- This Stream 1: Call for Proposals will only support industry – research collaborative projects. For clarity, academic collaborations (solely between or within research institutions) will not be supported.
- The Applicant must be a company (under the Corporations Act 2001 that are non tax-exempt and registered for GST), public or private research, educational, or other organisations (including universities, research institutes, and Commonwealth research organisations) with a South Australian presence and must submit its application with the support of at least one Collaborator.
- Collaborators can include companies (under the Corporations Act 2001 that are non tax-exempt and registered for GST), public or private research, educational, or other organisations (including universities, research institutes, and Commonwealth research organisations).
- The Applicant must have evidence of matched funding (cash and/or in-kind) together with a non-South Australian Government source.
- The Applicant must have the ability to enter into a legally binding funding agreement with the South Australian Government.
- The applicant must own or have the right to exploit any existing intellectual property necessary to carry out the project (if applicable).
Applicants will be assessed against (but not limited to) the following criteria:
- The value proposition, feasibility and potential outcomes of the proposed project;
- The capability, experience and skill of the Applicant and Collaborator/s teams involved in the project;
- The extent to which the Applicant and Collaborator/s commit their own resources (cash and in-kind) to the project. There will be a preference for cash over in-kind support, and industry over other sources of contributions; and
- The extent to which the project will create benefits for the Applicant, Collaborator/s and South Australia.
A total funding pool of $400,000 is available from RCSF, with individual grants of up to $50,000 (excluding GST). Funding must be matched on a minimum 1:1 basis (cash and/or in-kind).
Projects up to 12 months in duration will be considered under this Call for Proposals.
Interested Applicants should first read the Research, Commercialisation and Startup Fund Guidelines and discuss any further questions with the Senior Project Officer (contact details below). Applicants can apply below.
Full applications will be due at 5pm ACDT 28 February 2020. Proposals must be endorsed by authorised representatives of the Applicant and Collaborator/s. Upon submission, the Applicant will receive acknowledgement of receipt of the Proposal.
The assessment process will be managed by the Department. Proposals will be assessed competitively on their relative merit against the eligibility and merit criteria set out above.
Each project team (up to 3 members) comprising of Applicant and Collaborator/s may be requested to present their proposal (10 minutes + questions) to an assessment panel. Based on this and the proposal, the panel will provide their advice on which, if any, Applications the South Australian Government should support. If a presentation is required, the Applicant will be given reasonable notice. The Panel will make recommendations for funding proposals to the Minister for Innovation and Skills. The final decision to support a proposal will be made by the Minister for Innovation and Skills.
Each party involved in the assessment process must declare any conflict of interest that exists or is likely to arise in relation to any aspect of the Proposal being submitted.
For questions about this Call for Proposals and the application process, please contact:
Senior Project Officer, Department for Innovation and Skills