To apply for the Accelerating Commercialisation grant, you must be an Australian-based for-profit organisation and successful applicants may receive matched dollar-for-dollar grants of up to $1 million funding. This means that to receive a $1 million grant, you must have access to $1 million of your own, be that through future debt funding, potential equity investment or already existing cash reserves.
It’s important to note that the Accelerating Commercialisation grant is highly competitive and there is no guarantee that you will get funded if you apply.
Here are some criteria that must be met in order to receive the grant:
- Need for funding.
- Market opportunity.
- Value proposition.
- Execution plan.
- Management capability.
- National benefits.
How to apply
Before applying, the first step will be to chat with an R&D and Grant expert. At this meeting, you’ll discuss your project so your advisor can analyse its merits and shortcomings, and do an initial check of how likely you’ll qualify for funding. If there are fatal flaws in the idea, then we can all save ourselves a lot of time and money by not applying. If the idea has some merit, then we can proceed to the next stage.
The next stage in applying for the Accelerating Commercialisation grant is to lodge an expression of interest form with the Department of Industry, Science, Energy and Resources who administer the grant.
From there, you will receive feedback and be given a chance to amend the details of your expression of interest before lodging a full application. If you are successful at this point, you will be invited in front of a panel of judges to effectively “pitch” your idea, Shark Tank-style, and have it pulled apart to expose any flaws.
If you manage to emerge from all this unscathed, you may be successful in receiving funding.
Interested in how we can help?
Our R&D and Grant specialists are on hand to guide you through the entire process and provide expert advice at every step along the way. If you’d like to reach out for an obligation-free, no strings conversation about your project, please get in touch with us.