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Physical Sciences Fund to Provide $3.5 million to NSW Startups Developing Innovative Devices and Systems


Eligible businesses are encouraged to apply for the $3.5 million Physical Sciences Fund (PSF), a competitive development and commercialisation program administered by the Office of the NSW Chief Scientist & Engineer (OCSE).

The PSF aims to deliver significant social, economic and environmental benefits to NSW by providing financial support for the development of new and innovative devices and systems within NSW, across the branches of physical science and engineering, including physics, chemistry, astronomy and the earth sciences.

NSW Chief Scientist & Engineer Professor Hugh Durrant-Whyte said the PSF provides funding support through a competitive process to individuals, companies, research institutes and universities to take their local innovations to market.

“The Physical Sciences Fund is responsible for supporting some of the true NSW small business success stories of recent years, including Wollongong-based hydrogen production company Hysata and regional connectivity company Zetifi,” Professor Durrant-Whyte said.

“These are just two examples of how the PSF supports NSW startup companies to develop and commercialise their innovations, in the process growing their business while solving some of NSW’s most pressing technological challenges.

“Over four years the PSF delivered a remarkable return on investment to NSW, investing $19 million across 18 companies, which have subsequently raised $126 million from external sources, as well as an additional $49 million through leveraging other grants and funding sources.”

OCSE is now accepting preliminary applications to the 2024 round of the PSF.

Further information, including guidelines and how to apply, can be found at the PSF webpage.