Commercialisation Australia grants fund activities associated with the systematic work necessary for installing and establishing processes, systems and services that enable a new product, process or service to be effectively brought to market and include:
- Skills and Experience (up to $50,000)
- Experienced Executives (up to $200,000 over 2 years)
- Proof of Concept (from $50,000 to $250,000)
- Early Stage Commercialisation (from $250,00 to $2 million repayable grant) Successful applicants are required to repay the grant as a percentage of sales income from outcomes of the project and/or a percentage of company profits, depending on the success of the project. The grants are only available to innovative companies.
Expense categories covered under the scheme include:
- Labour expenditure
- Contract expenditure
- Plant expenditure
- Prototype expenditure
- Intellectual property protection expenditure
The grant is competitive and is assessed against the following five criteria:
- need for funding
- commercial plan and potential
- market opportunity
- management capability
- national benefits
To be eligible, applicants must be able to demonstrate that they can match the grant provided on a dollar for dollar basis over the life of the project; be able to demonstrate that they have access to, or the beneficial use of, any intellectual property necessary to carry out and/or commercialise the proposed project and have a turnover of less than $20 million. |
