The Accelerating Commericalisaion program offers invaluable support, advice and funding to a wide variety of Australian businesses that specialise in the development of innovative products and processes.
To be eligible for Accelerating Commercialisation, an applicant must have a novel product, process or service they wish to commercialise and be one of the following:
- An Australian company.
- A commercialisation office or Eligible Partner Entities.
- Individuals, partnerships or trustees who agree to form an eligible corporation.
The program is divided into three parts.
1. Commercialisation Guidance
Commercialisation Guidance is the initial stage of this program and must be completed before a company can move onto either
- The Accelerating Commercislisation Grant and Portfolio Services; or
- Portfolio Services only.
Commercialisation Guidance assists companies by putting them in touch with a Commercialisation Advisor, who then:
Helps develop a commercialisation strategy
Suggests improvements to company operations and processes
Provides guidance on the company’s eligibility for the Grant and Portfolio
2. Accelerating Commercialisation Grant
The Accelerating Commercialisation Grant offers to cover up to 50% of the costs for eligible projects. This funding is capped at a maximum of:
$250,000 for commercialisation offices and eligible partner entities
$1 million for all other applicants
Applications for funding are assessed on the following criteria:
- Need for funding.
- Market opportunity.
- Value proposition.
- Execution plan.
- Management capability.
- National benefits.
3. Portfolio Services
The Accelerating Commercialisation Portfolio Services offer companies access to a range of important services, including:
- Expert guidance from Commercialisation Advisers.
- Introductions and conncections to members of the Expert Network.
- Access to networking and promotion opportunities, both local and international.
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