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Nicholas Weston Client Update – CA grants are back – as AC grants

Nicholas Weston Client Update – CA grants are back – as AC grants

The replacement for the Commercialisation Australia, called “Accelerating Commercialisation” (AC), has just launched, offering 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.

AusIndustry has now launched “Accelerating Commercialisation” in replacement of the Commercialisation Australia scheme. A copy of our Client Update can be downloaded from this link:

NW Client Update – CA Grants are back – as AC grants

Background to the AC grants scheme

The replacement for the Commercialisation Australia is called “Accelerating Commercialisation” (AC) and has just launched, offering 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.

AC grants aim to bridge the ‘valley of death’ between research and development (R&D) and proven commercial viability or first sales.

Advanced manufacturing, food & agribusiness, medical technologies and pharmaceuticals, mining equipment, technology & services, oil gas and the energy sector, will be the initial focus, with scope to fund other sectors.

Eligible expenditure can be accrued from the project start date once the funding agreement is in place.

Key points

  • From November 2014 AC will offer guidance and merit based grants to eligible entities seeking to commercialise novel IP.
  • Maximum grant amount is $250,000 for “Commercialisation Offices and Eligible Partner Entities”, and $1 million for all other applicants.
  • The rebranded CA grants scheme will offer guidance from a Commercialisation Adviser, a network of experts and potential exposure to investors.
  • Dollar for dollar grants to cover Eligible Project Expenditure such as legal and patent attorney fees relating to IP protection (rather than defence), as well as some outsourcing, salary and administrative costs.
  • You do not need to have your share of funding fully available when you apply. However, you must be able to show that you can fund your share of project costs at the rate incurred on the project. You cannot use in-kind (non-financial) contributions or government grant sources to match the Accelerating Commercialisation grant.

Eligibility

Eligible applicants include:

  • Trading companies that are not tax-exempt and start-ups set up with the intention to return a profit to shareholders and the entity must also be registered for GST.
  • Individuals, researchers, partnerships, or unincorporated trustees who agree to form an eligible corporation before signing a funding agreement.
  • Commercialisation offices of publicly funded research organisations (PFROs) that are corporations.
  • Eligible Partner Entities that assist individuals and researchers in commercialising their intellectual property and are eligible corporations.
  • All applicants and any related bodies corporate must have a combined turnover of less than $20 million for each of the three years prior to lodgement of the application. For entities controlled by PFROs, the applicant’s annual turnover by itself must be less than $20 million for each of the three years prior to lodgement of the application.
  • The scheme can be found at www.business.gov.au . Alternatively, contact us at mail@nicholasweston.com for further details and eligibility criteria
  • 9 Dec, 2014
  • Posted by Nicholas Weston
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