The Australian Government is supporting Australian companies to accelerate the commercialisation of the innovation. Innovations in the agricultural, medical, and recycling and clean energy sectors can be found in the latest Accelerating Commercialisation grant offers, with 22 businesses are sharing in over $12.2m of funding to commercialise and take their ideas to the world.
Since 2014, AusIndustry has supported 573 businesses with more than $281 million awarded through commercialisation grants. Businesses who are awarded an Accelerating Commercialisation grant must meet a comprehensive set of merit criteria, including how novel the project is, to be awarded up to $1 million in matched funding.
Accelerating Commercialisation facilitators help each business sharpen its commercialisation strategy which means the government continues to support the best of the best Australian innovations to get their ideas market ready and out to the world –this latest group of businesses are no exception.
Australia Leading the Way with Innovative Sustainability Projects
No less than 5 of the 22 commercialisation project contribute to innovations in sustainability and the environment, from keeping clothing out of landfill to clean energy storage solutions for the off grid diesel generation market.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the grants will help home-grown companies grow, commercialise their products and gain further investments to enter new domestic and international markets.
“We are proud to support Australian companies take their innovative technologies and products to the next level through the commercialisation process,” Minister Taylor said.
New Technology for Enhanced Reservoir and Production Management
Fossilytics Engineered Solutions is proud and honoured to be amongst the distinguished group of innovative companies being recognised at the national level through the Australian Government’s Accelerating Commercialisation Grant. Their efforts in developing leading technology for the energy sector are on track for commercialisation in the coming months. It has been a pleasure for Haines Consulting Group to work with Fossilytics Engineered Solutions and contribute to the project’s success.
About Accelerating Commercialisation
Part of the Entrepreneurs Programme, Accelerating Commercialisation provides expert guidance and connections to help businesses, start-ups and researchers to commercialise their novel product, process or service for trade in Australia and/or overseas markets. After receiving commercialisation advice, businesses can access merit based matched grants of up to $1 million to assist in the commercialisation process. Facilitators provide guidance and mentorship to help achieve project objectives, including access to networks to help make important business connections, create opportunities, raise capital and enter new markets.
Eligibility Criteria for Accelerating Commercialisation Grants
Before you can apply for an Accelerating Commercialisation Grant you must have received Commercialisation Guidance.
be non-tax exempt
be registered for GST
be one of the following entities:
- a company incorporated in Australia and a trading corporation, where your trading activities
- form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation
- are a substantial and not merely peripheral activity of the corporation
- a Research Commercialisation Entity or Eligible Partner Entity as defined in the grant opportunity guidelines
For further information contact: firstname.lastname@example.org