The two streams are:
- Stream A supporting projects can include project scoping or innovation mapping activities in an industry sector. Maximum funding of $150,000 is available and projects must be completed within 18 months.
- Stream B is for more extensive cooperative projects that aim at progressing stratiegic innovation and achieving significant benefits for an industry sector. Funding of up to $3 million is available and projects must be completed within three years. Stream B eligible activities include:
- Research and development activities: systematic, investigative and experimental activities that involve innovation that will enable development of new products, processes and services in an industry context.
- Proof of concept activities: the steps necessary to establish the viability, including technical and commercial viability of a product, process or service, in an industry context.
- Innovation demonstration and adaptation activities: the steps necessary to demonstrate how new products, processes or services that have been proven in one context can be implemented into a new Australian industry context for the benefit of that industry.
- Innovation implementation activities: the systematic work necessary for installing and establishing tools, processes, systems and services to implement innovation in an industry.