To be eligible for the Australian Government Early Stage Commercialisation Repayable Grants, applicants must have ownership, access to, or the beneficial use of any intellectual property necessary to carry out and/or commercialise the project being funded by Commercialisation Australia.
Grants are available 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. Grants from a minimum of $250,000 to $2M, on a 50% contribution basis, are available from Commercialisation Australia for eligible companies. Group turnover must be under $20M for each of the last 3 years. Applicants need to produce an accountant’s written opinion that the company’s turnover has been under $20M for each of the last 3 years and that the company has the ability to fund its share of the costs.
Eligible activities include:
• systematic work necessary for installing and establishing processes; and
• systems and services that enable a new product, process or service to be produced to the stage where it can affectively be brought to market.
Merit criteria for this grant includes:
• Need for Funding
• Commercial Plan and Potential
• Market
• Management
• National Benefits
This grant is the only product within Commercialisation Australia that is repayable and the following conditions apply:
• Once the company has achieved sales in excess of $100,000 for the product that has benefited from the Commercialisation Australia grant, repayments are 5% of sales, payable every 6 months.
• Annual audited financial accounts must be submitted to Commercialisation Australia.
• If the business or intellectual property, that is the outcome of the project, is sold within 10 years of the end of the project, then the proceeds from the sale must be applied first to the repayment of the grant.
For advice on the practicalities of applying for assistance under the Commercialisation Australia programme, please contact us or visit the Commercialisation Australia’s Early Stage Commercialisation page for further information and factsheets.
Grants Checklist
If you would like to receive checklists for the following components of the Commercialisation Australia Grants
• Skills and Knowledge – Specialist Advice And Services
• Skills and Knowledge – Experienced Executives
• Proof of Concept Grants
• Early Stage Commercialisation Repayable Grant
please contact Christie (details in the author box below) and she’ll be glad to send you a checklist.
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Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
Christie has written 799 awesome articles for us at Alan Lewis Accountants – BLOG
Twitter: @christielewis
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Eleven new projects have shared in $2.2 million in Round 2 of Commercialisation Australia. The Recipients are
http://www.government-grant.com.au/2010/07/commercialisation-australia-round-2-recipients/
.-= Government Grant Guru´s last blog ..Commercialisation Australia Round 2 Recipients =-.
Thanks for the update. It’s an interesting mix of recipients.
22 Projects share in $8 million in funding in Round 3 of Commercialisation Australia Grants
http://www.government-grant.com.au/2010/10/commercialisation-australia-round-3-recipients/
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