To get your project to the commercialisation stage after receiving guidance, you can apply for the Accelerating Commercialisation grant. This grant is awarded based on how well your application meets the merit criteria.
Your facilitator will continue to provide support throughout the grant process.
Your matched grant will cover 50% of the cost of your project, up to the maximum amount agreed. The minimum grant amount is $50,000.
- Up to $500,000 for Research Commercialisation Entities and Eligible Partner Entities
- Up to $1 million of matched project funding for all other applicants.
The minimum grant period is 12 months and a maximum of 2 years.
The grant may be applied for in progressive stages, up to the maximum dollar amount as long as it is for the same novel product, process or service.
When you apply for the grant, you must prove your ability to fund your half of the contribution, without in-kind (non-financial) contributions or other government grants or programs. The remaining costs of your project, beyond the matched grant amounts, will need an additional contribution from you or your investors.
Grant assessment
Your final grant application will be submitted to the Entrepreneurs’ Programme Committee, who are a subcommittee of Industry Innovation and Science Australia – an independent statutory body. The Department of Industry, Science, Energy and Resources will determine whether your application is eligible and the committee will assess your application against the assessment criteria as part of this process.
The assessment criteria for the grant are:
- impact of the grant, such as your need for funding, whether your project supports the growth sectors and the broader economic benefits expected
- management capability, including how you will structure your business around the project and the management plan you have in place to complete the project
- market opportunity (including how your product, process or service is novel), outlining how your project meets an unmet market niche and providing evidence of buyer demand
- value proposition, highlighting why a customer would choose this product, process or service you intend to commercialise
- project delivery, providing a plan for delivery of your project that includes initiation, planning, execution and closure.
The grant opportunity guidelines have further information about the assessment criteria.
A novel project is a genuine innovation with evidence of a compelling value proposition, backed-up by market demand for the novel product, process or service.
A novel product, process or service is significantly different to any previous innovations in the market or industry in which the product, process or service is intended to be traded in Australia or globally.
Someone else should not be able to easily replicate your product, process or service without doing a significant amount of research and development.
Examples of novel projects our clients have worked on include:
- CitrusAd- external site founders, Brad Moran and Nick Paech, created unique self-service software for e-commerce retailers, allowing them total control over when, where and how often their ads are shown.
- Rob Watkins, owner of Natural Evolution- external site, discovered that green bananas that would otherwise be wasted could be turned into a new kind of gluten free flour through a novel process of extraction.
Information sessions
To learn more about Accelerating Commercialisation and what it can offer you, register for an information session hosted by our commercialisation facilitators.
These sessions will give you more information on:
- why Accelerating Commercialisation exists
- who it is for
- what is on offer
- what makes you eligible
- how the service works.
Eligibility
You can apply if your business meets the eligibility criteria. The eligibility criteria are a set of rules that describe who we can consider for this opportunity. You can apply if you:
- have an eligible business structure
- are a Research Commercialisation Entity or Eligible Partner Entity
- have a project with a novel product, process service
- have evidence of your ability to fund at least 50% of eligible project expenditure.
Your business will:
- have an annual turnover of less than $20 million for the last 3 financial years combined
- be non-tax exempt
- be registered for the goods and services tax (GST).
It must also be one of the following entities:
- a company incorporated in Australia and a trading corporation
- a Research Commercialisation Entity or Eligible Partner Entity.
If your business is a company, your trading activities must:
- form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation
- be substantial and not merely peripheral activity of the corporation.
Your business will have a turnover or operating expenditure of less than $20 million for each of the last 3 financial years. If you are a Research Commercialisation Entity or Eligible Partner Entity, this turnover must be in isolation of less than $20 million for each financial year, 3 years prior.
Not eligible
You are not eligible if you are:
- an individual
- a partnership
- an unincorporated association
- a trust (however, an incorporated trustee may apply on behalf of a trust)
- a non-corporate Commonwealth entity.
Your project will be a novel product, process, or service, significantly different to any previous innovation that offers value and solutions to the market or industry it will be traded in.
Your novel project will need to demonstrate:
- scalability, offering a one to many solution if it is a service
- technical feasibility, with research and development for your working prototype
- market acceptance, but not had its first sales
- intent for trade within Australia and/or overseas markets
- ability to rapidly increase trade and make sales across multiple markets
- ownership, access to or beneficial use of, any existing intellectual property.
Activities that are not eligible for your project include:
- research and development or technical experiments to create your prototype
- increasing production or marketing for product, process, or service that have had commercial sales
- internally focussed innovations and solutions that won’t reach an external market
- developing iterations of your existing product, process, or service.
The grant opportunity guidelines have further information about the eligible expenditure for your project that are covered by your grant.
Apply for Commercialisation Guidance
Before applying, make sure you:
- read the Grant opportunity guidelines
- can address all eligibility criteria
- read our customer stories to ensure your project is the right fit
- have all the information ready.
