Accelerating Commercialisation funding encourages and assists small and medium enterprises (SMEs), entrepreneurs and researchers with access to expert advice and funding of up to $1m to help get a novel product, process or service to market.
Deadlines and Timings
You can submit an expression of interest (EOI) for Commercialisation Guidance at any time.
After receiving guidance, you may be eligible to apply for an Accelerating Commercialisation Grant.
- Assessment of applications and notification of outcomes: approx. 75 days.
- Negotiations and award of grant agreements: 30 days from grant offer
- project period: 12 months
- project period: 24 months
Overview and Grant Amount
Accelerating Commercialisation provides expert guidance and connections through Accelerating Commercialisation Facilitators (Facilitators) to help you to find the right commercialisation solutions for your novel product, process or service. Facilitators provide advice and support across your commercialisation journey. Accelerating Commercialisation includes:
- Commercialisation guidance – guidance and assistance to develop the commercialisation potential of novel products, process or services
- Accelerating Commercialisation Grants – financial assistance to help commercialise novel products, processes and services
The grant amount will be up to 50% of eligible project costs (grant percentage).
- The minimum grant amount is $50,000
- The maximum grant amount is (i) $500,000 for Research Commercialisation Entities and Eligible Partner Entities; and (ii) $1 million for all other applicants
Eligibility and Criteria
To be eligible, you must be:
- registered for the Goods and Services Tax (GST)
and be one of the following entities:
- a company incorporated in Australia and a trading corporation, where your trading activities (i) form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation; and (ii) are a substantial and not merely peripheral activity of the corporation
- a Research Commercialisation Entity or Eligible Partner Entity
Applications will only be accepted if you:
- have received Commercialisation Guidance advice and recommendations regarding the suitability of your project for an Accelerating Commercialisation Grant
- have the ownership, access or beneficial use of any intellectual property you need to undertake the commercialisation project
- provide evidence of your ability to fund at least 50 per cent of eligible project expenditure, such as funding strategy and a bank statement or loan agreement; an Accountant Declaration that confirms your ability to fund the project must also be provided
- have a combined annual turnover of less than $20 million for each of the three financial years prior to the lodgement of the application (unless you are controlled by a Publicly Funded Research Organisation or Eligible Partner Entity, in which case you must have annual turnover in isolation of less than $20 million for each of the three financial years prior to lodgement of the application)
Eligible activities must be directly related to the commercialisation of a novel product, process or service and can include:
- engaging external professionals, for example to confirm the market opportunity, develop the business model, identify potential partners, develop an IP strategy, raise capital or prepare an Information Memorandum
- completing development of a novel product, process or service
- proving commercial viability of a novel product, process or service to a customer, investor or strategic partner
- making the first sales of the novel product, process or service in Australia or overseas
- engaging a senior experienced executive to fill a key gap in the management team, which is essential to achieving your commercialisation outcomes
Eligible activities do not include:
- basic research or technical experiments (Research & Development (R&D) projects)
- scaling production and/or marketing activities in markets where you have already made your first sales of the novel product, process or service
- developing a novel product, process or service for internal use only (i.e., not for sale), for example an enhancement to a manufacturing process that you will only use in your manufacturing plants to produce an existing product more efficiently, or to increase the profitability of an existing service
- commercialising the next version or iteration of an existing product, process or service where updates and changes are minor and therefore does not qualify as a novel product, process or service
Interested parties with a novel product, process or service that meet the turnover test may submit an application for Commercialisation Guidance via the online Customer Portal. Applicants are encouraged to read through all the criteria set by the guidelines of this grant.
Treadstone experts can help you understand government grants and maximise the benefits for your business. We have been helping clients since 2008 and our clients can testify to our proven success record. Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
Get in touch with us and let’s discuss this more in detail.
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