There are hundreds of reasons why people never get around to developing their terrific start-up idea. Not enough time, money, experience … What’s your excuse?

Following the recent launch of Commercialisation Australia, the time is ripe to give your business idea some legs.

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There are four kinds of grants available under the Australian government’s new Commercialisation Australia body.

1. Skills and Knowledge (a) grants up to $50,000, and gives you access to specialist advice and services, including market research and analysis, business planning and intellectual property management.
2. Skills and Knowledge (b) grants up to $200,000 over two years to assist in the recruitment of experienced executives.
3. The Proof of Concept grants between $50,000 and $250,000 to assist with testing the  commercial viability of the business model or idea for a product, process or service.
4. Early Stage Commercialisation offers repayable grants from $250,000 to $2 million 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.

Each successful applicant will be assigned a Case Manager to help identify what specialist advice they need and where to access it. Business Mentors are also on hand to give invaluable skills and know-how.

After much learning and networking, you may find yourself with a thriving business!

Am I Eligible?

You need to be able to show that:

1. You have a need for funding.
2. Your project has significant commercial potential and you have a sound commercialisation strategy.
3. Your project has a high level of innovation and there is a credible market opportunity for the outcomes of your project.
4. You have appropriate management expertise and a sound business strategy.
5. There are significant national benefits resulting from the project.

All participants in Commercialisation Australia are required to financially contribute to the costs of their commercialisation project.

What Should I Do Now?

Check out the Customer Information Guide available on the Commercialisation Australia website for more information

And next, complete the pre-application checklist to confirm your eligibility

Good Luck!!

Hot Tip: The Commercialisation Australia Board assesses applications first against the  ‘Need for funding’ criterion.