Commercialisation Australia

Companies with intellectual property to share or with innovative ideas for development can access up to $250,000 in government funds to help realise their projects. This grant is available to small and medium sized businesses with a turnover of less than $10 million per year. This government initiative is designed to help researchers, entrepreneurs and companies to develop commercial ventures based upon new ideas achieved by supporting businesses through the commercialisation process. The assistance is tailored to the needs of each individual applicant within different developmental stages. Each stage affords the applicant with different funding levels and expertise to take them step by step to full commercialisation. The Commercialisation Australia website lists these as follows:

Skill and Knowledge

Skills and Knowledge support provides participants with access to specialist advice and services to build the skills, knowledge and linkages required to successfully commercialise new products, processes and services.

Skills and Knowledge support is aimed at assisting people new to commercialisation - researchers, entrepreneurs and small companies who know their product, process or service has commercial potential, but don't know what to do next.

Up to $50,000 is available for successful applicants to access specialist advice and services from a third party service provider,for activities including market research and analysis, business planning and intellectual property management.

Proof of Concept

Commercialisation Australia Proof of Concept support is provided as grants from $50,000 to $250,000 to participants to test the commercial viability of a new product, process or service.

Typically Proof of Concept projects will be designed to demonstrate relevant functionality and/or capability to entice a customer to purchase and/or an investor to provide funding. The focus must ideally be on triggering or facilitating some form of commercial transaction.

Early Stage Commercialisation

Repayable grants from $250,000 to $2 million are available to successful applicants. Expenditure must be incurred on eligible project activities after a final Stage 2 Application has been accepted for assessment.
Types of eligible expenditure include:

  • Labour;
  • Contracting;
  • Plant;
  • Prototyping; and
  • Intellectual property protection.

This expenditure can be incurred for a range of activities including, but not limited to:

  • product development;
  • testing and documentation;
  • tooling-up for full scale production;
  • market validation; and
  • IP strategy execution.

The grant funding provided under Early Stage Commercialisation assistance needs to be matched 50:50 by the applicant.

Those are big available dollars to get a project up and running.

Other Grants