STEM+ Business Fellowship

Program Overview

The STEM+ Business Fellowship, a Science and Industry Endowment Fund (SIEF) program, provides funding to support Australian SMEs in undertaking longer-term research projects. This initiative places early-career science, technology, engineering, and mathematics (STEM) researchers directly into SME businesses for projects lasting two to three years. The program aims to build stronger connections between the research sector and Australian businesses.

The core objective of the Fellowship is to accelerate the adoption of new ideas and technology within SMEs. This is achieved by leveraging the expertise of early-career researchers to drive innovation and support business growth, leading to increased profitability and scale. The program fosters a collaborative environment where academic research translates into tangible business outcomes.

Financial assistance for the Fellowship is provided through a grant of up to $115,000 per annum per Fellow. This grant must be matched in cash by the participating business. Specific total funding for the program is not publicly detailed, as it operates on a per-fellowship basis from the SIEF.

Key Details

• Funding Amount or Range: Up to $115,000 per annum per Fellowship.
• Application Open and Close Dates: Applications are currently closed. Updates on future program status will be provided by the program provider.
  • Eligible Industries and Business Types: Australian SMEs are eligible.
  • SMEs must have completed an AusIndustry Researcher-in-Business or Research Connections/Innovation Connections project.
  • In the last financial year, SMEs must have an annual turnover or operating expenditure between $1 million and $100 million.
  • The research project has no industry sector restrictions, provided it involves science, technology, engineering, or mathematics.
  • Publicly funded Australian research organisations are eligible to partner with SMEs.
• Co-contribution or Matching Fund Requirements: The Fellowship grant must be matched in cash by the business. This implies a 1:1 cash co-contribution from the SME.
• Location/State/Territory Applicability: The STEM+ Business Fellowship is available to eligible SMEs and research organisations across all Australian states and territories.

Eligibility Criteria

For Australian SMEs:

• Must have completed an AusIndustry Researcher-in-Business or Research Connections/Innovation Connections project.
• Must have an annual turnover or operating expenditure between $1 million and $100 million in the last financial year.

For Early-Career Researchers (ECRs):

• Must have completed a PhD in a STEM subject, OR
• Must have a Bachelor’s degree in engineering or a Master’s degree in research in a STEM discipline with relevant research experience.
• Must have no more than 6 years of relevant experience since the conferral of their last degree.
• If an eligible ECR is not currently available at the chosen research organisation, funding can be approved on the condition that an eligible ECR is hired at the start of the project.

Eligible Activities and Expenses

The STEM+ Business Fellowship primarily funds the salary and associated on-costs of the early-career researcher (ECR) for the two- to three-year research project. The grant directly supports:

• ECR Salary: The primary component of the grant is to cover the ECR’s salary.
• Research Project Costs: Expenses directly related to the agreed STEM research project conducted within the SME. This may include consumables, minor equipment directly used in the research, and project-specific travel.
• Commercialisation Activities: The research project must accelerate the adoption of new ideas and technology, leading to potential commercial outcomes for the SME.

The grant is tied explicitly to the ECR’s placement and the associated research project. It does not fund general business operational expenses, capital costs unrelated to the research, or broad marketing activities.

Assessment Process

The STEM+ Business Fellowship is a competitive program. Applications are assessed based on the alignment of the proposed research project with the program’s objectives and the eligibility of both the SME and the early-career researcher.

Key assessment considerations typically include:

• Project Merit: The scientific and technical quality of the proposed STEM research project.
• Commercial Potential: The potential for the research to lead to new products, processes, or services for the SME and contribute to its growth and profitability.
• Researcher Fit: The suitability of the early-career researcher’s expertise for the project and the developmental opportunities for the ECR.
• SME Capability: The SME’s capacity to support the research project and integrate the ECR into its operations.
• Collaboration Quality: The strength of the partnership between the SME and the publicly funded Australian research organisation.

Application Tips

• Demonstrate a Clear Research Need: Articulate the specific STEM research challenge or opportunity the project will address for your SME.
• Outline Commercial Benefits: Clearly describe the anticipated commercial outcomes of the research, such as new product lines, process improvements, or market expansion.
• Identify a Strong ECR: If you have an ECR in mind, highlight their qualifications and how their expertise aligns with the project. If not, consider how you would recruit an eligible candidate.
• Show Previous Collaboration: Emphasise your prior engagement with research through an AusIndustry Researcher-in-Business or Research Connections/Innovation Connections project.
• Detail Your Co-contribution: Provide evidence of your financial capacity to meet the cash co-contribution for the Fellowship.
• Develop a Robust Project Plan: Present a well-defined project plan with clear objectives, methodology, timelines, and expected deliverables.

Further Support

Securing a STEM+ Business Fellowship requires a well-structured research proposal and alignment with the program’s objectives. Pattens Group has supported businesses in Australia with grant applications for three decades. Contact us for assistance with navigating the STEM+ Business Fellowship requirements and preparing a compelling application. For further details, check the CSIRO website.