What is 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, including a clear set of objectives and a clearly defined path to market
- Management Capability – The applicant demonstrates an appropriate level of expertise in commercialisation management, project management and business management
- National Benefits – The project will improve Australia’s participation and competitiveness in the global economy.
Accelerating Commercialisation Grants cannot be used to support projects beyond the point of first sales. This is because if it can be proven that your company and its novel product, process or service can be sold commercially in a key market, then financing is more readily available.
First sales means that a company is able to demonstrate, consistent with its value proposition, market acceptance of its novel product, process or service in its key target market(s).
A Accelerating Commercialisation project that aims to make first sales or other commercial transactions in an overseas market is unlikely to be competitive unless:
- the overseas market is a key market for the novel product, process or service
- the need for funding is clearly established, especially where your novel product, process or service has already been sold in Australia.
If you apply to Accelerating Commercialisation, you will be connected to a Commercialisation Adviser.
Commercialisation Advisers are independent, professional advisers who will guide you along the pathway to commercialising your IP.
They can assist you by:
- Guidance – providing guidance with respect to Accelerating Commercialisation
- Access – assessing your needs and helping you to access expertise and specialist advice
- Assistance – guiding and assisting you through the commercialisation process
- Funding – exploring alternative means of financing your project
- Operations – guiding and assisting you in operational matters
- Mentoring – monitoring your progress
- Network – developing your professional networks, including by linking you to members of the Expert Network.
Each Commercialisation Adviser has extensive experience in commercialisation either having taken their own products, processes or services to market, or having held senior roles in companies commercialising novel products, processes or services.
The Accelerating Commercialisation Expert Network is a network of experienced people who can help you make important business connections and create opportunities for you to raise capital and enter new markets.
Members of the Expert Network include successful entrepreneurs, domain experts, professional investors and strategic corporations. They have extensive experience in management, commercialisation, capital markets and business development. Members offer knowledge, skills, insights and links to help you in bringing your novel product, process or service to market.
The Expert Network builds upon the support you will receive from your Commercialisation Advisers as a growing resource to help you reach the people you need to reach – faster.
- Accelerating Commercialisation – Expression of Interest
- Accelerating Commercialisation – Application Form
- Accelerating Commercialisation – Factsheet
- Accelerating Commercialisation – FAQ
- Accelerating Commercialisation – Guidelines
Software Commercialisation Examples
Supashock – $468,887
Motor Sport and Defence Industries
Supashock has teamed up with German defence vehicle manufacturing giant Rheinmetall. The partnership has been very collaborative and a testament to a close working strategic and technical relationship which has developed technology for Advanced Defence vehicle applications.
Supashock’s Accelerating Commercialisation Grant of $468,887 has assisted greatly in providing a platform for this technology for wheeled defence vehicles and helped Supashock continue to provide world leading suspension technologies for defence vehicles.
Baraja – $1M
LiDAR – for safer driverless car technology
Sydney firm Baraja Pty Ltd (Baraja) has taken its staff numbers from just five to a staggering 95, as it breaks new ground in the self-driving car revolution. Baraja has also raised A$45M Series A in capital since founding the company.
Baraja’s 3D LiDAR is a step further as the firm’s brilliant minds have overcome many of LiDAR’s previous limitations and developed a sensor capable of being scaled up to automotive volumes and down to automotive prices.
Inventia – $760,000
3D bioprinter – to print human cells
Inventia Life Science’s Pty Ltd created a 3D bioprinter that is transforming our understanding of human cell behaviour and drug development, with the help of many, including Accelerating Commercialisation support. The Sydney based Rastrum platform enables scientists working in fields such as cancer research and regenerative medicine, to print living cells and biomaterials in 3D environments that mimic the human body.
Osler Technology – $1.1M
Clinical Performance Platform
Osler Technology has developed a Clinical Performance Platform for medical practitioners to record, monitor and analyse their clinical practice. By ensuring clinicians are appropriately trained using mobile technology at the patient bedside, Osler Technology reduces preventable patient harm that results in additional operational cost, litigation and human toll across health systems. Accelerating Commercialisation support will be used to help Osler Technology Pty Ltd complete and secure further Beta trials; complete the development of the application’s commercial release, secure its first commercial customers and; develop an entry plan for international markets.
Advanced Agricultural Systems – $1.1M
SwarmFarm – The key to unlocking new farming systems
Advanced Agricultural Systems has developed autonomous, robotic machines for use in agriculture. This technology will save on labour, reduce farm costs, increase yields, use inputs more efficiently and reduce the environmental impacts of agriculture. The commercial weed spraying project is the key step towards the overall commercialisation of robots as part of a new proven farming system. Accelerating Commercialisation support will be used to help SwarmFarm commercialise agricultural robotics and create a new industry resulting in increased productivity, in both Australian and International agriculture.
The Yield Technology Solutions – $1.1M
Improving yields in the Oyster Industry
The Yield has developed innovative Internet of Things technology which is designed to improve oyster growers’ yields and profitability through reducing unnecessary harvest closures, improving labour scheduling and tracking food safety. Accelerating Commercialisation is helping The Yield commercialise its products enabling sales, investment and global licensing revenue. It will contribute to Australia’s global reputation for high quality food exports.
Bluedot Innovation – $0.9M
Bluedot Innovation has developed novel location-based software enabling a new generation of local-based commerce.
Commercialisation Australia funding will be used to engage expert service providers to help build a commercial strategy, and to validate the performance and benefits of this software with key commercial partners.
The Minister for Industry, Science and Technology, Karen Andrews MP, recently announced that nine Australian businesses have been offered Accelerating Commercialisation grants under the Entrepreneurs’ Programme.
The grants help Australian entrepreneurs, researchers, inventors and start-ups reach their potential sooner, which in turn boosts jobs and economic growth. One grant in particular awarded to Navi Medical Technologies will help caregivers ensure lifesaving medicines can be administered to critically ill newborns.
The supported projects are:
- Smileyscope Pty Ltd (VIC) with a grant of $740,000 to commercialise its virtual reality experience for children needing medical procedures involving a needle such as vein punctures and cannulations.
- Red Eight Produce Pty Ltd (NSW) with a grant of $712,500 to complete development and a commercial trial of its modular mobile abattoir system that is able to process multiple animal species on any farm.
- Matchbox Exchange Pty Ltd (VIC) with a grant of $658,479 to commercialise the world’s first online platform enabling container transport companies to exchange shipping containers without transiting through ports.
- Dynamic Crowd Measurement Pty Ltd (NSW) with a grant of $640,000 for commercial trials of their crowd management software solution that mimics human decision-making in real-time, to help police, security staff, event organisers and emergency responders.
- Farmbot Australia Pty Ltd (NSW) with a grant of $597,650 to broaden the application of its innovative water monitoring technology.
- Veyor Digital Pty Ltd (NSW) with a grant of $516,885 to help market test and validate its digitised integrated materials handling and logistics management platform to improve productivity on construction projects.
- Navi Medical Technologies Pty Ltd (VIC) with a grant of $396,452 to commercialise its Neonav product – to help medical staff accurately place catheters in babies.
- DingGo Au Pty Ltd (NSW) with a grant of $248,262 to commercialise its online automated vehicle fleet repair management platform.
- Albion Sports Technology Pty Ltd (VIC) with a $245,966 grant to commercialise its light weight, high impact, gender and sport code specific protection apparel, AlbionX.