The Western Australian Government is excited to announce the continuation of the Market Access Grant Scheme (MAGS) for 2025, aimed at bolstering the health and medical life sciences sector. This initiative is part of a broader strategy to support local companies in expanding their market reach through participation in significant national and international events.
Scheme Overview
MAGS 2025 provides financial assistance to Western Australian health and medical life sciences companies to cover travel and conference attendance costs. This support is crucial for companies looking to network, showcase innovations, and secure investment or partnership opportunities.
-
Funding: The grant covers up to 80% of eligible costs, with a cap of $5,000 per company, aimed at subsidizing travel expenses for attending key industry conferences and events.
-
Total Allocation: A total of $100,000 has been set aside for this round, which will remain open until all funds are allocated.
To find out more, read the information below. Eligible businesses are invited to apply through this online MAGS Portal
Eligibility Criteria
To be eligible for MAGS 2025, businesses must:
-
Operate within the health and medical life sciences sector, specifically developing or expanding technologies in Western Australia.
-
Be a registered business based and headquartered in Western Australia.
-
Have been operational for at least 24 months at the time of application.
-
Not receive funding for the same activities from other government programs.
-
Commit to co-funding at a minimum ratio of 20:80 (applicant to government funding).
-
Ensure that the proposed activities will take place and conclude in 2025.
Application Process
-
Application Portal: Companies must apply through the designated MAGS online portal, ensuring they have read and understood the comprehensive guidelines provided.
-
Required Documentation: Applicants need to submit:
-
A detailed project budget including quotes for travel and event participation costs.
-
A justification of how the grant aligns with the Health and Medical Life Sciences Industry Strategy.
-
-
Assessment: Applications are evaluated based on eligibility and alignment with the scheme’s objectives. A panel, possibly with external expert advisors, will assess applications confidentially.
Benefits of Participation
-
Market Exposure: Access to new markets, both nationally and internationally, which can lead to increased visibility and business opportunities.
-
Investment and Partnerships: Enhanced opportunities to connect with investors and potential business partners.
-
Skill and Knowledge Enhancement: Exposure to the latest industry trends, technologies, and practices.
Important Dates
-
Opening of Applications: Applications are now open and will close when the allocated funds are expended. Companies are encouraged to apply early to secure funding.
Guidelines and Further Information
-
Before applying, businesses should thoroughly review the scheme’s guidelines to ensure compliance and maximize the chances of a successful application.
Contact and Support
For any questions or additional support, applicants can refer to the MAGS website or contact the Department of Jobs, Tourism, Science and Innovation directly.
Conclusion
The Market Access Grant Scheme 2025 is a golden opportunity for Western Australian health and medical life sciences companies to broaden their horizons and contribute to the growth and innovation within the sector. By facilitating attendance at pivotal industry events, MAGS not only aids in the commercial success of individual businesses but also strengthens the state’s economy and its reputation in the global health sector.
Additional Notes:
-
This scheme does not extend to consultants unless they are directly involved in the development or expansion of health and medical technologies.
-
The confidentiality of all applications is maintained as per the Freedom of Information Act 1992.
This initiative is a testament to Western Australia’s commitment to fostering a vibrant and sustainable health and medical life sciences industry, recognizing the traditional custodians of the land throughout the state and their continuing connection to land, waters, and community.