The Entrepreneurs’ Programme is helping Australian businesses to improve their growth capabilities and networks, engage with researchers, foster innovation and encourage commercialisation of novel products, processes or services
What does it offer?
Accelerating Commercialisation offers eligible small and medium businesses, entrepreneurs, and researchers access to Commercialisation Advisers with experience and connections to address the challenges associated with commercialising novel products, processes and services.
Eligible individuals and businesses that submit an Expression of Interest will receive guidance on their commercialisation project and feedback on its potential merit under the programme.
Successful applicants will receive:
- Membership of the Portfolio
- Guidance from a Commercialisation Adviser to help achieve project objectives
- An opportunity to access the Expert Network (via Commercialisation Advisers) to help make important business connections, create opportunities to raise capital, and/or enter new markets
- Potential exposure to investors and multi-national corporations through domestic and international roadshows
- Accelerated commercialisation opportunities via leveraged networks and linkages facilitated by Business Development Advisers
Services will be available for a period of up to two years.
Accelerating Commercialisation also offers grants of up to 50 per cent of eligible project expenditure to assist in the commercialisation of novel products, processes and services for a maximum project period of two years.
The maximum grant amount is $250,000 for Commercialisation Offices and Eligible Partner Entities, and $1 million for all other applicants.
An important feature of Accelerating Commercialisation is the creation of a Portfolio of Australian businesses that are undertaking early stage commercialisation activities. The Portfolio will bring qualified commercialisation opportunities together in a single place providing visibility and credibility for investors, other entrepreneurs, domain experts, supply chains and strategic corporations.
Commercialisation Advisers are independent, professional advisers who can assist by:
- providing access to expertise and specialist advice
- exploring alternative project financing
- aiding in operational matters, as well as project monitoring
- helping develop professional networks.
Business Development Advisers
Business Development Advisers bring their extensive international and domestic networks and commercialisation experience to drive commercialisation success for early stage companies. They create awareness of the Accelerating Commercialisation portfolio as a collection of the best early stage technology based companies in Australia.
The Expert Network helps participants make important connections and creates opportunities to raise capital and enter new markets.
Members of the Expert Network have a variety of relevant skills and experience in areas such as management, commercialisation, capital markets and business development. They offer knowledge, skills, insights and links to help businesses bring their novel product, process or service to market.
Members of the Portfolio may have access to networking and promotion opportunities that are not readily available to other businesses. The activities promote investment and collaborative opportunities and can include networking events, exposure to international trade missions, or opportunities to join Australian delegations to major global events.
Who can apply?
Applicants must meet certain eligibility requirements as outlined in the Customer Information Guide, available from business.gov.au. If eligible, grant applications will be assessed through a merit-based competitive process.
Applications for Accelerating Commercialisation need to address the following merit criteria:
- Need for funding
- Market opportunity
- Value proposition
- Execution Plan
- Management capability; and
- National benefits.
If an applicant is not applying for grant funding, they do not need to satisfy the need for funding criterion.
For more information, visit business.gov.au or call 13 28 46. More in depth face-to-face assistance is also available from AusIndustry’s national network.