Government Grants For SMEs

Export Market Development Grant – Reminder

If you are an exporter or proposing to export, Export Market Development Grant applications for the year ended 30 June 2014 have to be lodged by Monday 1 December 2014 at 5pm.

Accelerating Commercialisation

The Australian government has introduced the long-awaited replacement to the Commercialisation Australia program, with the release of the details of the Accelerating Commercialisation Grant.

Accelerating Commercialisation is the final component of the Entrepreneurs’ Infrastructure Program, which also includes:

·         Business Evaluation

·         Business Growth Grant

·         Research Connection

Accelerating Commercialisation will assist entrepreneurs, researchers, inventors, start-ups and small/medium enterprises address the challenges associated with commercialising novel intellectual property, in the form of new products, processes and/or services.

Eligible applicants include non-tax exempt company, an individual, researcher, partnership or unincorporated trustee, who agrees to form a non-tax exempt eligible corporation before signing a funding agreement.  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 $20million.  The applicant has to have a novel product, process or service that they wish to commercialise and trade to customers, external to the state or territory of their place of business.  The applicant has to 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.

Grant funding of up to $1million is available on a 50% contribution basis.

Eligible project aims to achieve at least one of the following:

  • Complete development of a novel product, process or service.
  • Prove commercial viability of a novel product, process or service to a customer, investor or strategic partner.
  • Make the first sale of the novel product, process or service in Australia or overseas.
  • Drive the business towards commercialisation of its novel product, process or service in the marketplace, by engaging an experienced executive.

If you’re interested in submitting an expression of interest for Accelerating Commercialisation, you need to complete the EIP Accelerating Commercialisation Expression of Interest form, which can be accessed online at www.business.gov.au.

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