**Expressions of interest are now closed**

The Fisheries Research and Development Corporation (FRDC) is undertaking a Request for Expressions of Interest (REOI) to identify an investment partner to work with FRDC to establish and administer the proposed 'Finnovation' fund.

FRDC, along with the Investment Partner, intends to establish and administer a $54 million fund that will invest in and support early-stage companies to grow Australia's aquatic innovation ecosystem. 

FRDC invites interested parties (respondents) to submit Expressions of Interest (EOIs) demonstrating how they meet the FRDC's requirements and capabilities to establish and administer the fund.

This REOI is the first stage of a two-stage process to select and investment partner to establish and administer the Fund. Following the evaluation of EOIs, the FRDC will shortlist respondents and issue a request for tender (RFT) to those shortlisted respondents only.

Download the Request for Expressions of Interest (PDF Version) 

Download the Request for Expressions of Interest (Word Version) 

Timetable 

• REOI Released: 7 November 2024 

• Briefing on REOI: 10.30am, 15 November 2024 

• REOI Closing Time: 5pm ACT local time, 6 December 2024 

• Shortlisted Respondents identified: 9 - 20 December 2024 

• Issue Request for Tender (RFT) to shortlisted Respondents: 20 January 2025 

• RFT Closing Time: 14 February 2025 

• Interviews with successful Respondents: 24 – 28 February 2025 

• Successful Respondent identified: 3 – 7 March 2025 

• Entry into contract: March - May 2025 

• Finnovation Fund launch: TBA 

How to Lodge an EOI 

**Expressions of interest are now closed**

EOIs must be lodged via email to finnovation@frdc.com.au before the REOI Closing Time and in accordance with the EOI lodgement procedures set out in this REOI document. 

Briefing 

To download the slides, click here.

Contact Officer 

• Name: Jamin Forbes 

• Position: Business Development Manager 

• Email: finnovation@frdc.com.au
   

Fund Overview 

The fund aims to invest in and support early-stage companies seeking to validate and commercialise high potential products, services, and business models that address sector-specific challenges in the Australian fishing and aquaculture sectors. These include:

• Indigenous-led initiatives 

• Sustainable fishing 

• Disease prevention 

• Aquaculture innovation 

• Ecosystem regeneration 

• Precision fishing 

• Alternative products 

• Climate change resilience 

• Circular economy 

• Biotechnology, genomics 

• Digital transformation 

Evaluation Criteria 

EOIs will be evaluated using the following criteria (refer REOI form Part D, Schedule 1 for complete criteria to be addressed): 

• Understanding of fund requirements and proposed approach: 30% weighting 

• Relevant experience in establishing and administering funds: 30% weighting

• Capacity and capability to establish and administer the fund: 30% weighting

• Extent that proposed fees and charges represent value for money: 10% weighting
   

Minimum Content and Format Requirements 

• The EOI must be signed by an authorised representative of the Respondent.

• The EOI, including all supporting material, must be written in English. 

• The EOI must include the Respondent’s declaration substantially in the form set out at Annex A to Schedule 1. 
   

Conditions for Participation 

• The Respondent must be domiciled in Australia (or a country that has a double tax agreement with Australia).

• The Respondent must hold the necessary licences and authorisations (including an Australian Financial Services Licence) to operate the fund. 

• The Respondent must have appropriate resources to establish, administer and manage the fund. 

• The Respondent must have a demonstrable track record in fund establishment, fund administration, capital raising, identification of investment opportunities, investment execution and portfolio management.

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FAQ

Read through some of the most commonly asked questions about Finnovation.