Accelerating Commercialisation grant provides access to expert advice and matched funding of up to $1 million to cover eligible commercialisation costs to help take novel products, processes and services to market
The grant provides projects up to 50% of the expenditure to a maximum of:
- $1 million for businesses with novel products, processes or services
Accelerating Commercialisation Grant recipients will also receive Portfolio Services for the duration of the project.
- $250,000 for “commercialisation offices” and eligible partner entities
Applicants must be one of the following to apply:
- a for-profit company registered and operating in Australia
- a commercialisation office or Eligible Partner Entities
- individuals, partnerships or trustees who agree to form a for-profit company.
Applicants must first receive Commercialisation Guidance.
Commercialisation Guidance is available to applicants that:
- have a novel product, process or service they wish to commercialise
- want to trade to customers external to the state or territory of their place of business
- are not named by the Workplace Gender Equality Agency as a non-complying organisation.
For more information on what Accelerating Commercialisation offers and eligibility please refer to the Customer Information Guide.
Merit criteria are not used to access initial Commercialisation Guidance.
Merit criteria apply if you proceed to a grant application. All of the merit criteria, except for “Need for Funding” (Criterion 1), are equally weighted.
- Merit Criterion 1 – Need for Funding
- Merit Criterion 2 – Market Opportunity
- Merit Criterion 3 – Value Proposition
- Merit Criterion 4 – Execution Plan
- Merit Criterion 5 – Management Capability
- Merit Criterion 6 – National Benefits
We assess applications for Accelerating Commercialisation Grants first against criterion 1, and then against criterion 2-6.
For more information on the merit criteria please refer to the Customer Information Guide.
Who gets the AC funding?
Only exceptional business that have well developed plans and deep IP get through the review process.
When to apply:
You will already have received some funding from seed investors or spent a bit of your own cash. It is likely that you have taken you product, service or process as far as you can but your next round of funders (ie VC) want you to do more before they commit. Your product may still have some flaws that may be revealed in a Beta trial, which is what the AC grant will fund.
If you have paying customers (that relate to your nominated project) then your application will not be accepted.
Three keys to getting approved:
- You must have a board in place before you apply. Your team must have a mix of technical and commercial track record.
- You must have your matching funding in the bank ready to go
- You need at least 6 months of patience and persistence.
How to apply:
The first step requires Applicants to lodge an Accelerating Commercialisation Expression of Interest (EOI) form which can be lodged at any time.
Applicants will be provided with feedback on their Expression of Interest by an AusIndustry Customer Service Manager in the first instance. If appropriate, applicants may then be assigned to a Commercialisation Adviser, or referred to other Government assistance programmes.
The advice and feedback provided to applicants at the EOI stage is intended to help applicants make an informed decision on whether to continue with an application. This is known as Commercialisation Guidance.
You should read the Customer Information Guide thoroughly before submitting an Expression of Interest. You should pay particular attention to what we consider is an eligible commercialisation project and how you will fund your share of the costs of the proposed project.
How applications are assessed:
Application forms are available upon request from a Commercialisation Adviser, after receiving Commercialisation Guidance.
If you wish to apply for grant funding, you will go through a competitive merit application process. You will need to submit your completed application to us. A sample grant application form is available to view.
Applications for Accelerating Commercialisation Grants that meet eligibility will proceed to a merit assessment. AusIndustry will prepare a report on all eligible applications prior to merit assessment which includes a due diligence report, completed by a Commercialisation Adviser. This report examines the claims you have made against the merit criteria. The Programme Delegate will make the final decision. If your application is successful, you will receive a written offer.
For more information on the assessment process please refer to the Customer Information Guide.
If your application is successful:
If your application for an Accelerating Commercialisation Grant is successful you will enter into a funding agreement with the department. The funding agreement will contain the schedule for payments. A sample funding agreement is available to view.
Once the funding agreement is in place, an initial payment is made. Subsequent payments are made following receipt of a complete and satisfactory progress report.
For more information please refer to the Customer Information Guide.
Want to discuss your application before you apply?
Treadstone is happy to discuss your application and review you funding options as they relate to AC grants, R&D Tax and other state and federal government grants. Please call us on (03) 9008 5937 or (02) 8378 2520 or email us.