Financial support in Adelaide

Health Industries Fund

Funding is available to companies who can demonstrate that their business plan will deliver significant benefits to South Australia and the local health and life sciences sectors.

Health Industries South Australia is responsible for the initial evaluation of applications for funding, determining whether a project aligns with its mandate of contributing to the economic development of the state through the attraction of inbound investment in health and life sciences sectors.

Download Health Industries Fund Guidelines

The Health Industries Fund is an important part of the South Australian Government’s commitment to an economic development model targeting the health and life sciences. This is demonstrated by the establishment of Health Industries South Australia for the purpose of attracting inbound investment, by the support of other initiatives such as TechInSA, MedVet and Tonsley, and by the development of Adelaide BioMed City.

43.5% Cashback for R&D

Forty-three and a half per cent of R&D costs will be reimbursed in cash to eligible companies with an aggregated annual turnover of less than A$20 million (approx. US$15 million). A 38.5% tax offset is offered to all other eligible entities.

What’s covered?

Incentives covered include clinical trials, analytics, study drug manufacture, prototype manufacturing, the development of new computer algorithms, and many other types of R&D.

Companies can claim the cost of R&D activities conducted overseas in support of their Australian R&D project, when certain conditions are met.

There is a solid track record of successful claims by companies headquartered overseas when conducting research in Adelaide.

What’s the process?

Before commencing R&D activities, investors interested in benefiting from the financial incentives must set up an Australian company with a local director. There is no requirement to hire full-time employees.

A formal agreement with the parent company is required.

The whole process is inexpensive and can take as little as a month. Importantly, all intellectual property remains with the parent company.

Specialised professionals with a track record of successful claims are available in Adelaide.

Adelaide’s banking system is available to provide a loan secured against the cashback amount.

The R&D Tax Incentive is an Australian Government initiative jointly managed by AusIndustry and the Australian Taxation Office. For further information please visit www.business.gov.au and www.ato.gov.au.

Contact us

Contact us at healthindustries@sa.gov.au or on +61 8 8463 6191 to find out how Adelaide can help your company.

Health Industries South Australia is the South Australian Government agency helping health and life sciences companies invest in Adelaide.