Whilst the final revision was expected to be released on 1
December 2014, the announcements made on 1 November now appear to
be the final version of the new Entrepreneur Infrastructure Program
and its related grant funding.
The latest announcements included:
Accessing Commercialisation grants;
Extending the supply chain facilitation program; and
Wider Business growth services.
The grants continue to be aimed in improving Australia's
knowledge base and manufacturing skills and this round opens the
door for start-up and non-manufacturing companies. With the R&D
tax concession deadline fast approaching and the EMDG program just
closed on 30 November, we will take a closer look at the
accelerating commercialisation program. It may be that you can
claim your tax rebate on R&D costs AND reimbursement of export
market development costs PLUS get some funding for the next stage
of your product commercialisation. Even up to $1M over a maximum 2
year project period.
In today's market where cash flow is king accessing these
programs can make a large difference to a business's viability
and return on investment.
So what is available? Accelerating Commercialisation
This program applies to services and grants available to find
commercialisation solutions for novel products, processes or
services. It is a merit based funding system where applicants can
access funding for up to 25% of eligible project costs for a
maximum 2 year period. The grants are capped at $250K for
commercialisation offices and partners or $1M for all other
The merit based application system requires information on
aspects such as –
Why there is a need for funding;
The market opportunity;
Management capacity to execute the plan; and
Am I eligible?
The difference with this grant is that start-up businesses can
apply so long as the company has been set up with a view to profit.
There is also a cap on consolidated revenue of $20M hence making
this grant attractive to new smaller group and companies needing
funding for new products. Industry wise, there is also no
requirement to be in manufacturing or one of the 5 growth sectors
which is a key eligibility criteria for the Entrepreneurs Growth
Generally the grant will require a prototype to have been
designed and tested to obtain funding as the grant does not fund
research & development. Overall the likelihood of the product
making it to market must be high and this story needs to be told
via the application and merit criteria. It is expected that IP may
result in a patent however you can apply where a patent is pending.
This grant is also project based. So you can actually apply for
funding for more than one project.
What is the process?
An expression of interest needs to be submitted which will be
reviewed and referred to a commercialisation advisor appointed by
AusIndustry. That advisor will then provide feedback and ideas and
refer you to the application form.
Once your application is submitted it is reviewed and you are
notified of your applicable funding amount. Funding is then paid on
a quarterly basis after submission of your progress report.
How do I access this grant?
Just call us. We can take you through the workings of the program
and help you with your application process. We can also advise on
opportunities for R&D tax claims and EMDG reimbursements.
If you are a start-up, or existing company, with a new product
this grant can help you fund the cost of getting your product to
The global economic slowdown is having an adverse impact on many businesses, often resulting in lower cash flows.
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