The inaugural round of the Victorian Medical Research Acceleration Fund aims to support the translation of early stage health and medical research into better health outcomes for patients. Job creation and further investment in Victoria’s medical research sector will also be a key objective of the Government's latest initiative.

The fund will leverage capital from philanthropic, industry and international sources and provide $3 million per year to fill key market gaps and deliver rewards for research.

Collaborations or partnerships between health services, industry, medical research institutes and/or education institutes, with a focus on early research, can now apply for two tiers of funding up to $100,000 and $500,000.

Applications closed 14 April 2017.