In addition to the R&D tax incentive opportunities provided by the Australian Government, AusIndustry also provides other grants and funding to innovative businesses.
Accelerating Commercialisation offers eligible small and medium businesses, entrepreneurs, and researchers' access to Commercialisation Advisers with experience and connections to address the challenges associated with commercialising novel products, processes and services. If successful, you can also receive access to industry experts, exposure to investors and networks as well as access to grant funding (which matches your eligible expenditure) up to a maximum of $1 million.
At Brentnalls SA, we can help you identify and access the grant (as well as other incentives), provide support and assist with implementation.
There are three stages to the grant:
- Commercialisation Guidance available for companies with a novel product, process or services they wish to commercialise and trade to customers external to the state or territory of the applicant's place of business;
- Portfolio Services including:
- inclusion on a publicly available database for introductions, supply chain and investment opportunities;
- specialist guidance from Commercialisation Advisers; and
- introductions (via a Commercialisation Adviser) to relevant members of the Expert Network;
- access to networking and promotion opportunities, such as:
- networking events;
- exposure to multi-national corporations and investors through international trade missions;
- opportunities to join Australian delegations to major global events in select industry sectors.
- Grant funding for 50% of eligible expenditure up to $1 million.
To be eligible to apply for the grant, you must have:
- a combined annual turnover of less than $20 million for each of the three years prior to lodging your application; and
- a novel product, process or service that you're looking to commercialise and trade to customers outside of the state or territory of your principal place of business.
Unlike the R&D Tax Incentive, the grant will not be available to all eligible companies, but will be granted to selected companies based on competitive merit criteria including:
- market opportunity
- value proposition
- management capability
- execution plan, and
- national benefit
If you have a novel product, process or service which you would like assistance with taking to market, please contact our office to discuss your eligibility.
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The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.