Commercialisation Australia, which helps researchers, entrepreneurs and innovative companies convert their ideas into successful commercial ventures, is offering $60 million in grants next financial year. It also provides case managers to assist businesses to commercialise their development.

The funding arm has already distributed 177 grants worth $72 million for businesses in biotechnology, engineering, manufacturing, agribusiness and clean technology.

The latest changes, announced by Innovation Minister Kim Carr, bring the early stage commercialisation grant in line with the other three grants offered by Commercialisation Australia, which don't require repayment.