What is the Accelerating Commercialisation?
Accelerating Commercialisation is focused on helping start-up companies commercialise new technology.
Accelerating Commercialisation, formally called Commercialisation Australia, helps Australian entrepreneurs, researchers, inventors, start-ups, Commercialisation Offices and small and medium enterprises address the challenges associated with commercialising novel intellectual property.
Accelerating Commercialisation is a key offering under the Entrepreneurs’ Programme.
The objective of Entrepreneurs’ Programme is to drive business growth and competitiveness through support for business improvement and promoting economic growth through research connections and commercialisation.
Want to find out my tips to get the
Accelerating Commercialisation grant?
The objectives of the Accelerating Commercialisation program are:
- Speed to market – accelerating the commercialisation of novel intellectual property in the form of novel products, processes and services
- Entrepreneurship – creating new businesses based on novel intellectual property with high growth potential
- Return on Investment – facilitating greater commercial and economic returns from both public and private research and development investment to drive business growth and competitiveness
- Research – generate greater commercial and economic returns from both public and private sector research
How much can you get?
This Accelerating Commercialisation grant provides projects up to 50% of the expenditure to a maximum of:
- $250,000 for commercialisation offices and eligible partner entities
- $1,000,000 for all other applicants.
Accelerating Commercialisation Grant recipients will also receive Portfolio Services for the duration of the project.
Eligible Accelerating Commercialisation projects aim to achieve at least one of the following:
- Opportunity – Engage external professionals, for example to confirm the market opportunity, develop the business model, identify potential partners, develop an IP strategy, raise capital or prepare an Information Memorandum
- Development – Complete development of a novel product, process or service
- Viability – Prove commercial viability of a novel product, process or service to a customer, investor or strategic partner
- Sales – Make the first sales of the novel product, process or service in Australia or overseas
- Management – Engage a senior experienced executive to fill a key gap in the management team, which is essential to achievement of your commercialisation outcomes
Stage 1 – Expression of Interest
After you lodge your Accelerating Commercialisation EOI, a Commercialisation Advisor will review your proposal.
During the review of your EOI you may be asked for further information in support of your EOI.
The Commercialisation Adviser will provide you with initial guidance on your commercialisation project if you are considering an Accelerating Commercialisation Grant or your Commercialisation Strategy if you are considering a Portfolio Services application.
If you want to progress to a full Accelerating Commercialisation application, you may receive further feedback on the potential merits of your project or strategy.
You may receive this guidance and feedback in the form of a face-to-face meeting, a telephone conversation or other means of communication – whichever is most appropriate under the circumstances.
Stage 2 – Full Application
If you are invited to submit a full application for Accelerating Commercialisation you will need to score well on the following merits:
- Need for Funding – you need to demonstrate insufficient financing to fund the entire project and that it would be unreasonable to expect you to obtain funding from from alternative sources.
- Market Opportunity – the market need for the novel product, process or service is clearly defined. The strength of the IP (including novelty) has been well described.
- Value Proposition – A clear, concise and compelling value proposition, i.e. why the intended customer wants to buy the product, process or service.
- Execution Plan – A sound execution plan to capture the opportunity and manage the risks