A revised Accelerating Commercialisation (AC) program was introduced in November 2014.
Whilst similar to the Commercialisation Australia (CA) program, there are a number of changes that potential applicants should be aware of.
There is a maximum grant limit of $1m (reduced from $2m).
To be eligible, the project must aim to commercialise novel Intellectual Property in the form of a novel product, process or service. These eligible projects should aim to achieve at least one of the following:
– Complete development of a novel product, process or service; or
– Prove commercial viability of a novel product, process or service to a customer, investor or strategic partner; or
– Make the first sales of a a novel product, process or service in Australia or overseas; or
– Drive the business towards commercialisation of its a novel product, process or service in the marketplace by engaging an Experienced Executive.
The Experienced Executive salary payment is capped at $250,000 per annum.
Ineligible projects will include those projects that:
– Have a focus on basic research or technical experiments (essentially where they are still R&D projects)
– Scale production and/or marketing activities in markets where you have already made your first sales of the novel product, process or service
– Develop a novel product, process or service for internal use only
– Commercialise the next version of an existing product, process or service where updates are minor and therefore do not qualify as a novel product, process or service
The AC Grant follows a competitive process format, that is, you will need to go through a two stage application process understanding that there is a chance your application may not be selected for funding.