Criteria and Expectations
- Is the project aligned with the goals of MIME and the stated objectives of the MIME seed fund? Specifically, does it:
- Target a significant unmet clinical need, involve a clinician researcher from MNHS (staff or adjunct, based in one of Monash’s partner hospitals), and a researcher from either Engineering or IT?
- Involve high quality collaborative multidisciplinary research?
- Aim to make a major impact – specifically a major innovation in the development of medical technology that will result in substantial improvements for patients or efficiencies in the overall healthcare system?
- Require leading edge STEM research expertise in order to tackle the challenge?
- Does it build on existing capability within MIME / Monash, or readily recruitable capability?
- Are the academic leaders clearly identified?
- Will the project build critical mass in areas of distinctive strength for MIME? Is it well aligned to existing themes, or does it have the capacity to establish a new distinctive strength?
- Is the project likely to attract additional funding, either as immediate co-investment, or via a clear pathway to external funding sources?
- Is the project translational in nature? This is a priority for MIME seed funding. If the project targets earlier stage research, is it clear why this research is essential in order to solve a specific technical challenge needed to advance the field of medical technologies?
- Does the project strengthen collaborative relationships with key partner organisations such as hospitals, and/or links to industry?
- The project should take advantage where appropriate of relevant research platforms.
Expectations and responsibilities if funded – the basic terms of a binding Agreement with MIME are as follows:
- A Project Leader shall be identified by the research team and responsible for all communication and project reporting to MIME.
- A binding Agreement between the project team and MIME will be negotiated with the MIME Chief Operating Officer (COO) and the Project Leader prior to receipt of funding.
- Emergent IP will be monitored by the COO of MIME with a view to IP protection if and when necessary.
- Publications (including presentations such as conference talks/posters) of results arising from MIME funding are subject to protection of IP and approval from the MIME Executive. The terms of Publication will be negotiated in the Agreement. Publication rights will not be unduly or unnecessarily restricted.
- Project teams and the MIME Executive will agree on a Schedule of milestones and expected outcomes prior to funding commencing. These terms will be in the Agreement and reported against on a quarterly basis.
- A final budget for the project will be negotiated with, and approved by the COO of MIME prior to project commencement.
- Progress reports will be submitted to MIME by the project leader on a quarterly basis.
- Progress and expenditure updates may be requested at any time or for specific industry engagement activities by MIME.
- IP and commercialisation rights and activities will be negotiated in good faith if and when necessary as the project progresses.
- Expenditure of funds will only be approved for Scheduled activities – refer to item 5. Any unanticipated variation must be agreed by the COO of MIME.
- Teams will be required to present at and participate in the Annual MIME Seed Fund Showcase.