Accelerating Commercialisation grants will help Australian entrepreneurs, researchers, inventors, start-ups, Commercialisation Offices and small and medium enterprises address the challenges associated with commercialising novel intellectual property in the form of new products, processes and/or services
The Accelerating Commercialisation grant is part of the Entrepreneurs Infrastructure Programme and was opened for applications on 31st Oct 2014 providing a maximum of $1 million of matching funding.
What does it offer?
Accelerating Commercialisation offers eligible entrepreneurs, researchers, inventors, start-ups, Commercialisation Offices and small and medium enterprises access to Commercialisation Advisers with experience and connections to address the challenges associated with commercialising novel products, processes and services.
Individuals and businesses that submit an Expression of Interest will receive guidance on their commercialisation project and feedback on its potential merit under the programme.
Successful applicants will receive:
- An invitation to join the Portfolio
- Guidance from a Commercialisation Adviser to help achieve project objectives
- An opportunity to access the Expert Network (via Commercialisation Advisers) to help make important business connections, create opportunities to raise capital, and/or enter new markets
- Potential exposure to investors and multi-national corporations through domestic and international roadshows
Services will be available for a period of up to two years.
Accelerating Commercialisation also offers grants of up to 50 per cent of eligible project expenditure to assist in the commercialisation of novel products, processes and services for a maximum project period of two years.
The maximum grant amount is $250,000 for Commercialisation Offices and Eligible Partner Entities, and $1 million for all other applicants.
Who can apply?
You are eligible to apply if at the time of lodging your application:
1. You are either:
- a non tax-exempt company incorporated under the Corporations Act 2001 (Cth) that is registered for GST and its trading activities:
- form a sufficiently significant proportion of its overall activities as to merit it being described as a trading corporation; or
- are a substantial and not merely peripheral activity of the company;
- an individual, researcher, partnership or unincorporated trustee who agrees to form a non tax-exempt eligible corporation before signing a funding agreement; or
- a Commercialisation Office or Eligible Partner Entity;
2. The combined annual turnover of the applicant and of each related body corporate (if any) for each of the three years prior to lodgement of the application is less than $20 million; except if you are controlled by a publicly funded research organisation (PFRO) then your annual turnover by itself must be less than $20 million for each of the three years prior to the lodgement of the application;
3. You have a novel product, process or service you wish to commercialise and trade to customers external to the state or territory of your place of business4;
4. You have ownership, access to, or the beneficial use of, any intellectual property that is the subject of, or is necessary to carry out the eligible project;
5. You are not named by the Workplace Gender Equality Agency as an organisation that has not complied with the Workplace Gender Equality Act 2012 (Cth).
If you are applying for grant funding, you must also demonstrate the ability to fund at least 50 per cent of the eligible expenditure of the eligible project, other than from government grant sources.
Eligible projects will aim to achieve at least one of the following:
- Complete development of a novel product, process or service; or
- Prove commercial viability of a novel product, process or service to a customer, investor or strategic partner; or
- Make the first sales of the novel product, process or service in Australia or overseas, or
- Drive the business towards commercialisation of its novel product, process or service in the marketplace by engaging an Experienced Executive.
Ineligible projects are those that:
- Have a focus on basic research or technical experiments (R&D projects). However, if your project has been assessed (merit criteria) as having a HIGH likelihood of a commercial transaction when it is completed, then your project may include R&D activities and still be eligible, if these R&D activities are essential to undertake in order to achieve that commercial transaction.
- Scale production and/or marketing activities in markets where you have already made your first sales of the novel product, process or service.
- Develop a novel product, process or service for internal use only (i.e. not for multiple sales). An example would be the development of an enhancement to a manufacturing process that the applicant will only use in its own manufacturing plants to produce an existing product more efficiently, or to increase the profitability of an existing service.
- Commercialise the next version of an existing product, process or service where updates and changes are minor and therefore do not qualify as a novel product, process or service.
How to lodge an Expression of Interest (EOI)
To lodge an EOI, you must:
- Complete an EIP Accelerating Commercialisation Expression of Interest (EOI) form online at business.gov.au.
- Provide all the information asked for in the EOI form.
- Submit your EOI.
EOIs can be submitted at any time. You will be provided with a receipt number after successfully submitting the EOI.
How your EOI will be reviewed
After you lodge your EOI, a Customer Service Manager will review your EOI and provide you with feedback on your eligibility. If appropriate, you may be referred to other Government assistance programmes.
You may then be assigned a Commercialisation Adviser who will review your proposal. During the review of your EOI you may be asked for further information in support of your EOI.
The Commercialisation Adviser will provide you with initial guidance on your commercialisation project, and if you want to progress to an Accelerating Commercialisation application, further feedback on the potential merits of your project (see section 8). Applications are assessed on a competitive merit basis.
You may receive this guidance and feedback in the form of a face-to-face meeting with your Commercialisation Adviser or a panel of Commercialisation Advisers, a telephone conversation or other means of communication – whichever is most appropriate under the circumstances.
How to lodge an application
You can lodge an application at any time. Applications will be considered regularly in six to eight week cycles.
To apply, you must:
• Complete the EIP Accelerating Commercialising application form.
• Provide all the information that is needed for us to assess your application.
• Submit your application.
Note that any information you provide that is considered intentionally misleading or inaccurate will be investigated.
We will acknowledge all applications in writing within 10 working days of receipt. The acknowledgement letter will provide a reference number and contact details for any inquiries you may have relating to your application.
The criteria you need to address
To be competitive, you will need to address each merit criterion in your application. Your application will be assessed against the indicators listed beneath each merit criterion. The application form asks questions that are related to the indicators below. The amount of detail and supporting evidence you provide in your application should correspond with the project size, complexity and grant amount requested.
Merit Criterion 1: Need for Funding
- The applicant has demonstrated insufficient financing to fund the entire project.
- It would be unreasonable to expect that the applicant should obtain all requisite project funding from alternative sources.
Merit Criterion 2: Market Opportunity
- The market need for the novel product, process or service is clearly defined.
- The type of customer is clearly defined.
- The size of the target market is clearly articulated.
- The strength of the IP (including novelty) has been described.
Merit Criterion 3: Value Proposition
- A clear, concise and compelling value proposition, i.e. why the intended customer wants to buy the product, process or service.
Merit Criterion 4: Execution Plan
- A sound execution plan to capture the opportunity and manage the risks, for example:
o a clear set of objectives
o a clearly defined path to market
o an understanding of the key structural or market challenges to be resolved
o a sound IP strategy
o a sound manufacturing strategy (where applicable)
o a sound financial plan (including potential grant funding if applicable).
Merit Criterion 5: Management Capability
- The applicant demonstrates an appropriate level of expertise in:
o commercialisation management
o project management
o business management
o the relevant market sector/technology domain.
Merit Criterion 6: National Benefits
- The project will improve Australia’s participation and competitiveness in the global economy.
- The extent to which the project targets and/or participates in the growth sectors8.
- Significant spill-over benefits will accrue to Australia through the conduct of the project and/or commercialisation of its results, including:
o diffusion of knowledge and skills;
o diffusion of novel products, processes or services; and/or
o increased collaboration between businesses and/or businesses and research institutions.
How the grant will be paid
The funding agreement will state the:
- maximum grant amount to be paid
- grant ratio – which is the proportion of eligible expenditure covered by the grant.
The maximum grant amount cannot be exceeded under any circumstances. If you incur extra costs, you must meet them yourself (unless you successfully apply for a variation to the funding agreement – see section 10.4).
Grant funding will be paid quarterly following receipt of a complete and satisfactory project progress report. The amount of each payment will be based on the:
- eligible expenditure incurred that is directly related to the project
- eligible expenditure expected to be incurred in the next reporting period
- the total of previous payments made
- agreed funding ratio for the project
Five per cent of the total grant funding is set aside for the final payment. This is paid when a satisfactory final report is received.
Past Recipients of Accelerating Commercialisation Grant
Find out which businesses have received the AC Grant – Past Recipients
Grant Writing Assistance
Treadstone has a strong success record for accessing grant funding and developing grant winning strategies. Ask us what is needed for a successful application. Call for a confidential discussion on 03 9008 5937.