Skills and Knowledge – grants of up to $50,000 to purchase expert advice and services. This component is most suited to people new to commercialisation - researchers, individuals and small companies - who know their IP has commercial potential, but who don’t know what to do next.
Case Managers and Volunteer Business Mentors help participants identify what specialist advice they most need and where to access it. Participants in the Skills and Knowledge component can apply for other components of the program at any time.
Experienced Executives – grants of up to $350,000 over two years to engage an experienced CEO or other executive. This component is designed to give small innovative firms and people new to business the experienced management skills they need.
Proof of Concept – grants from $50,000 up to $250,000 to assist with establishing the commercial viability of a new product, process or service.
Early Stage Commercialisation – grants from $50,000 up to $2 million to assist with bringing a new product, process or service to market.
With the exception of the Skills & Knowledge grant, under which the applicant must contribute 20% of the project costs, all other components require the applicant to match the grant funding on a 50:50 basis.
You may apply for up to two components at the same time, with the exception of:
- Skills & Knowledge and Early Stage Commercialisation
- Proof of Concept and Early Stage Commercialisation.
- You comply with the Equal Opportunity for Women in the Workplace Act 1999.
- You are able to demonstrate that you are able to fund your share of the project costs.
- You have ownership or beneficial use of the IP for your commercialisation project.
- The project must aim to produce, establish the commercial viability of, or commercialise a new, clearly identified product, process or service; and it must involve eligible activities.
- The combined annual turnover of the applicant,
and of each related body corporate (if any) for the three years preceding
- less than $50 million per year if applying for the Early Stage Commercialisation component; and
- less than $10 million per year if applying for any other component of Commercialisation Australia.
- You are able to show that you have a need for funding (i.e. you cannot fully fund the commercialisation activity yourself and there is no other funding assistance available).
- There is a significant market opportunity for the outcomes of your project.
- There is a compelling value proposition for your new product, process or service.
- You have a sound execution plan.
- You have appropriate management capability.
- There are significant national benefits resulting from the project.
Companies can apply for support at any time. All components of the Commercialisation Australia program are competitive and judged on a prescribed set of merit criteria. As such, only applicants with a well structured and compelling case will be successful in obtaining funding under this program.