What is it?
Commercialisation Australia was announced as part of the 2009-10 Federal Budget as part of the Australian Government’s 10 year vision – Powering Ideas: an innovation agenda for the 21st century. It is the primary source of Australian Government assistance for commercialisation and is aimed at assisting researchers, individuals and innovative companies to convert their ideas into successful commercial ventures.
The program offers a suite of tailored assistance measures. This includes:
Skills and Knowledge
up to $50,000 to access specialist advice and services.
funding of up to $200,000 over two years (up to $100,000 per year) to engage an experienced Chief Executive Officer or other executives.
Proof of Concept
grants between $50,000 and $250,000 to assist with testing the commercial viability of the business model or idea for a product, process or service.
Early Stage Commercialisation
repayable grants from $250,000 to $2 million to undertake activities focusing on enabling a new product, process or service to be developed to the stage where it can be taken to market. (The grant is repayable over 10 years at a fixed % of turnover should the commercialisation be successful)
For information on other state-specific benefits, please contact us.
Are you eligible?
As an applicant, your combined annual turnover, and that of each related body corporate (if any) for the three years prior to the year of application must be:
- less than $20 million per year if applying for the Early Stage Commercialisation component
- and less than $10 million per year if:
– it has ownership, access to, or the beneficial use of, any intellectual property necessary to carry out and/or commercialise the project; and
– it complies with its obligations under the Equal Opportunity for Women in the Workplace Act 1999.
It can provide a great deal of assistance to companies wishing to commercialise new products, services or technologies.
This is a competitive grant and a considerable amount of time and expense is required to submit a professional looking, well argued submission.
What do you do next?
Draw on our knowledge and experience to maximise your potential for success.
Contact us to discuss in general terms, how well your business matches the eligibility criteria. Contact GSA today on (M) 0418 281 870 or by email at firstname.lastname@example.org for an initial consultation at no cost or obligation. We look forward to helping you grow your business by accessing all of the government financial benefits to which your business is entitled to.