Commercialisation Australia provides Proof of Concept grants to assist researchers, entrepreneurs and innovative companies establish the commercial viability of a new product, process or service.
What funding is available?
Commercialisation Australia Proof of Concept grants are between $50,000 and $250,000 over a 12 month period, to fund eligible activities within the project. Applicants are required to match funding on a 50:50 basis.
What types of activities are funded?
Proof of Concept grants will fund the steps necessary to establish the commercial viability of a new product, process or service.
Projects that focus on basic research aimed at creating the base intellectual property are not eligible. For example, projects that predominantly consist of early investigation and conceptual development will not receive support.
Commercialisation Australia expenditure must be incurred on eligible project activities after an application has been a
ccepted to be considered eligible.
Types of eligible expenditure for Commercialisation Australia are:
- Labour expenditure
- Contract expenditure
- Plant expenditure
- Prototype expenditure
- Intellectual property protection expenditure
For more information regarding eligible expenditure and specific items of expenditure relating to Proof of Concept grants, refer to the Commercialisation Australia Customer Information Guide or contact us to discuss your specific project.
How do I apply?
Commercialisation Australia applicants should read the Customer Information Guide and complete a Pre-Application Form as the first step in applying for Commercialisation Australia assistance.
Once a Pre-Application Form has been completed, applicants will need to submit the form. We can assist with reviewing your application to confirm likelihood of receiving funding. Commercialisation Australia will then contact the applicant to discuss their suitability.
Merit criteria
Commercialisation Australia applicants compete for available funds, based on the merit of their application. Eligible applications will be assessed against the following five merit criteria:
- need for funding
- commercial plan and potential
- market opportunity
- management capability
- national benefits
Eligibility
To be eligible to apply for a Commercialisation Australia Proof of Concept grant, an applicant must be one of the following:
- a non tax-exempt company incorporated under the Corporations Act 2001
- a researcher applying through an Australian university or Publicly Funded Research Agency (PFRA) commercialisation office
- an individual or researcher applying through an eligible partner entity
- an individual who warrants to form a non tax-exempt company incorporated under the Corporations Act 2001 if the application is successful.
Eligible Commercialisation Australia applicants must also:
- satisfy the turnover requirements outlined in the Customer Information Guide
- be able to demonstrate that they will match the grant provided on a dollar for dollar basis over the life of the project
- be able to demonstrate that they have ownership or beneficial use of the intellectual property necessary to carry out the commercialisation project.
How will my application be assessed?
Commercialisation Australia applications for grant funding will be competitively assessed by the Commercialisation Australia Board against the five merit criteria.
Tailored Assistance
All successful applicants will be allocated a Commercialisation Australia Case Manager and will have access to Volunteer Business Mentors.
Case Manager
Case Managers are partnered with successful applicants for the duration of their involvement with Commercialisation Australia, who will guide participants through the commercialisation process. Case Managers have extensive experience in commercialisation. Case managers will assist successful applicants by:
- helping them to identify the skills and knowledge they need
- helping them access specialist advice and services
- identifying and linking them with appropriate Volunteer Business Mentors
- assisting them develop professional networks
- advising them on strategic and operational matters
- monitoring their progress
Commercialisation Australia Case Managers will be based in states and territories across Australia to offer hands-on advice and assistance to successful applicants.
Volunteer Business Mentors
Commercialisation Australia Volunteer Business Mentors will assist successful applicants by offering the knowledge, skills and insights needed to turn their idea into a commercial reality.
Volunteer Business Mentors have extensive experience in management and commercialisation and are well placed to offer insights into the commercialisation process.
Commercialisation Australia Volunteer Business Mentors build on the support provided by Case Managers, giving successful applicants a sounding board to bounce ideas off and suggest options. Case Managers will organise mentoring sessions with Volunteer Business Mentors that have the expertise and skill set to match the applicant’s needs. As these needs change, individual mentors can be changed, ensuring the mix of knowledge and skills available is always tailored to the current needs of the successful applicant.
Proof of Concept grants are only one part of the Commercialisation Australia program. See the drawing below for information regarding other programs on offer.
