Funding for commercialisation
Inventions and technologies developed in a university environment are often at a very early stage. An invention or innovation can often take a few years of further research and development before attracting commercial partner investment or licensing.
Through Monash Innovation, Monash University can help bridge funding gaps through a range of funding sources. Typically, these are funds to support commercialisation plans. The main funds that we use regularly are:
Monash Research Impact Fund
The Monash Research Impact Fund (MRIF) is an internal Monash University fund established to provide early stage support for Monash inventions. The kinds of inventions suitable for this program have the potential to make a significant impact, but require further funding to realise their potential. Funding is in the $10,000 to $50,000 range and is intended for activities such as market analysis, proof-of-concept and prototype development.
Applications require the support of a faculty Business Development Manager who will help you through the three-to-four week process.
Read more about the Monash Research Impact Fund (MRIF) (pdf 81kb).