The Food and Beverage Accelerator (FaBA) and the Grains Research and Development Corporation (GRDC) are co-investing on innovation projects in the grains and legumes industry.
The investment is aimed at:
- the development of new and innovative food and beverage products and new ingredients using Australian grains and/or legumes; and
- the incorporation of new technology or approaches for improving quality and/or reducing waste.
The FaBA & GRDC Investment Round covers the following grains and legumes:
- wheat;
- coarse grains – barley, cereal, maize, millets/panicums, oats, sorghum and triticale;
- pulses – chickpeas, cowpeas, faba beans, field peas, lentils, lupins, mung beans, navy beans, pigeon peas and soybeans; and
- oilseeds – canola, linseed, safflower, and sunflower.
Work will be completed at one or more of the three participating universities – The University of Queensland, QUT, or the University of Southern Queensland – and would be funded 50/50 between the business and FaBA.
The business would be required to invest between $50,000-$2 million, so the project value would be between $100,000-$4 million.
The scheme is competitive and will require a formal Project Investment Application to the FaBA Project Investment Committee if the EOI progresses.
All Intellectual Property (IP) that is generated by a project is owned by the business. FaBA is completely non-dilutive.
FaBA and GRDC encourage applications from:
- Australian companies or foreign corporations that have assets in Australia that process Australian grains and/or legumes in Australia;
- food companies with products that are under FSANZ legislation (i.e. not TGA);
- have a target launch date of new product/ ingredient in market within 2-3 years;
- companies with a likelihood of project success;
- companies that have projects that will help FaBA meet its objectives; and
- consortia applications are also possible.
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