Accelerating Commercialization (AC)
Accelerating Commercialisation helps address the challenges associated with commercialising novel intellectual property in the form of new products, processes and/or services. The objective is to assist entrepreneurs, researchers, inventors, start-ups, small and medium enterprises thereby:
> accelerating the commercialisation of novel intellectual property in the form of novel products, processes and services;
> creating new businesses based on novel intellectual property with high growth potential; and
> facilitating greater commercial and economic returns from both public and private research and development investment to drive business growth and competitiveness.
Accelerating Commercialisation works by providing you with expert guidance and connections through Commercialisation Advisers who help you to find the right commercialisation solutions for your novel product, process or service. This may include matched funding, up to $1 million per project, to support your commercialisation activities.
Eligibility
You are either:
> a non-tax-exempt company incorporated under the Corporations Act 2001 (Cth) that is registered for GST and its trading activities:
> form a sufficiently significant proportion of its overall activities as to merit it being described as a trading corporation; or
> are a substantial and not merely peripheral activity of the company;
> an individual, researcher, partnership or unincorporated trustee who agrees to form a non-tax-exempt eligible corporation before signing a funding agreement; or
> a Commercialisation Office or Eligible Partner Entity;
Other requirements
> the combined annual turnover of the applicant and of each related body corporate (if any) for each of the three years prior to lodgement of the application is less than $20 million; except
> you have a novel product, process or service you wish to commercialise and trade to customers external to the state or territory of your place of business4;
> you have ownership, access to, or the beneficial use of, any intellectual property that is the subject of, or is necessary to carry out the eligible project;
> you are not named by the Workplace Gender Equality Agency as an organisation that has not complied with the Workplace Gender Equality Act 2012 (Cth).
If you are applying for grant funding, you must also demonstrate the ability to fund at least 50 per cent of the eligible expenditure
Eligible expenditure includes the following types of expenditure:
> Labour expenditure (plus on-costs)
> Contract expenditure
> Plant expenditure
> State-of-the-art manufacturing plant or pilot manufacturing plant
> Prototype expenditure
> Other expenditure
Eligible projects 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 the novel product, process or service in Australia or overseas, or
• Drive the business towards commercialisation of its novel product, process or service in the marketplace by engaging an Experienced Executive.
