Proof of Concept Fund

The University of Melbourne’s Proof of Concept (POC) Fund helps researchers take the next critical steps in developing their idea to become a product, service or startup.

The Proof of Concept Fund supports ideas at early stages of development.

Successful applicants can receive between $A10,000 to $A100,000 to validate the potential of their idea to become a commercially viable product, service or startup.

The POC scheme can also be used to secure matching funds against appropriate grant funding schemes  such as Australia’s Economic Accelerator and the National Reconstruction Fund.

Am I eligible to apply?

To be eligible for funding you will need to be:

• Employed by the University, and undertaking research where the University has at least 50 per cent ownership in the intellectual property (IP) being developed
• Have disclosed, or be ready to disclose, the IP to the University

What types of projects can receive funding?

The Proof of Concept Fund is designed for projects from any discipline that:

• Aim to develop a novel product or service (for profit or social venture)
• Are based on underlying research
• Are unable to access other sources of funding, and
• When proof of concept development is the next logical step

What can the funding be used for?

Proof of Concept funding can be used for development work and/or commercial viability work such as:

• Prototype development and/or validation
• Technology scale-up and/or validation studies,
• In vivo proof-of-concept studies in relevant disease models for therapeutic opportunities
• Software coding and documentation to enable field trials or alpha/beta testing
• External advice on customer and market analysis, business planning, technical and/or competitive analysis to support the commercial potential of the opportunity
• Labour: contract staff employed for a specific purpose

How do I apply?

Contact your Faculty's Business Development Manager who can guide you through the application process. (University of Melbourne login required)