A newly launched initiative aims to bolster the growth of startups and small to medium enterprises (SMEs) engaged in innovative commercialisation and expansion endeavours.
This initiative, aligned with the Australian Government’s National Reconstruction Fund (NRF), focuses on advancing Australia’s manufacturing capabilities for the future.
What’s Offered
- Eligible businesses will be paired with an Industry Growth Program Adviser. These advisers offer specialized guidance tailored to support the commercialization and growth aspirations of participating enterprises.
- Following advisory sessions, businesses may opt to pursue:
- Grants ranging from $50,000 to $250,000 for early-stage commercialization ventures. Grants between $100,000 and $5 million earmarked for commercialization and growth initiatives. Who Qualifies:
- SMEs spearheading innovative commercialization or expansion projects contributing to manufacturing capabilities in the government’s NRF priority sectors, which include but are not limited to:
- Value addition in resources Value addition in agriculture, forestry, and fisheries Transport Medical science Renewables and low emissions technologies Defense capabilities Enabling technologies. Please note that minor enhancements to existing products or services do not meet the innovation criteria. Such endeavors are typically deemed routine growth activities and are ineligible for program support.
Key Features
Access to advisers who assist in validating business models and overcoming challenges associated with innovative projects Collaborative development of recommendations for commercialization and growth strategies Exploration of suitable support and funding pathways, including potential grant opportunities under the Industry Growth Program. While eligible businesses may apply for grant funding after receiving advisory services, it’s important to note that not all applicants will qualify for grants. Funding will be allocated based on the strength and merit of the applications.
Grant Opportunities Summary
Upon receiving the Advisory Service report, eligible businesses have the option to apply for matched grant funding to advance their commercialization or growth projects. However, not all businesses that engage with an Adviser will qualify for grants. Grant applications are evaluated based on merit by the independent Industry Growth Program Committee.
- Early-Stage Commercialisation Grants:
- Intended for projects at the feasibility study, proof-of-concept, and prototyping stages, typically spanning Technology Readiness Levels (TRLs) 3 to 6.
- Funding can be utilized for activities aimed at establishing the commercial viability of innovative products, processes, or services.
- Grants range from $50,000 to $250,000.
- Commercialisation and Growth Grants:
- Designed for innovative projects ranging from prototyping to market readiness, covering TRLs 4 to 9.
- Supported activities include market entry strategy development, growth acceleration, and scaling up for national and international markets.
- Grants range from $100,000 to $5,000,000.
You can apply for an Early-Stage Commercialisation or Commercialisation and Growth grant opportunity by submitting your application through the online portal. You will need to log in to the portal and select the grant type you wish to apply for. You also need your Industry Growth Program Advisory Service (IGPAS) number as the application form will ask you to confirm you have received an Advisory Service Report.
The portal allows you to apply for and manage a grant or service in a secure online environment.
The application must be completed by an authorised representative of your business.
Read the full eligibility rules in the grant opportunity guidelines.
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