Accelerating Commercialisation Grant Assists Innovators!
Issue 009
The Australian government’s Accelerating Commercialisation Grants from $50,000 to $1M, on a 50% funding basis, is a significant contribution to funding the commercialisation of intellectual property in the form of a novel product, process or service.
The applicant must be a company, but an individual or partnership can apply for the grant as long as the applicant(s) agrees that, if approved for a grant, a company will then be incorporated.
The company’s turnover limit is $20M annually for each of the last 3 years, with no minimum turnover requirement.
The eligibility requirements are as follows:
- The company’s leadership team must have received commercialisation guidance from the Entrepreneurs’ Program.
- The company must have a novel product, process or service it wishes to commercialise.
- The company must have ownership, access to, or the beneficial use of, any intellectual property that is required to carry out the commercialisation project.
- Demonstrate the ability to fund, at least, 50% of the eligible project expenditure.
- The application that is submitted must contain sufficient information to undertake a merit assessment.
The eligible project should aim to achieve, at least, one of the following:
- Engage external professionals for example to confirm the market opportunity, develop the business model, identify potential partners, develop an intellectual property strategy, raise capital or prepare an Information Memorandum; or
- Complete development of a novel product, process or service; or
- Prove commercial viability of a novel product, process or service to a customer, investor or strategic partner; or
- Make the first sales of the novel product, process or service in Australia or overseas; or
- Engage a senior experienced executive to fill a key gap in the management team which is essential to achieving of the commercialisation outcomes.
Towers Business Development Pty Ltd is an experienced business advisory services organisation which can assist companies through this entire process.
If you would like to have a no obligation initial discussion, please do not hesitate to contact Peter Towers, an experienced accountant and former government grant consultant:
This Week’s Free Webinar
- “Using Section 708 of the Corporations Act to Raise Capital” – Thursday, 29th July 2021 at 2.00pm AEST – To register click here.
Recent Webinars/Posts
- Crowd Sourced Funding Equity Raising – What’s Available For Companies - 5th July 2021 - click here. To view recording – click here.
- Early Stage Innovation Company Status – Benefits Company and Investors – click here. To view recording – click here.
- Is Your Business Looking For Funding - click here. To view recording – click here.
Towers Business Development Services
Towers Business Development does not give taxation advice but offers consulting services for small/medium sized enterprises and accountancy businesses, including:
- Advice on a “young company” that has undertaken research and development and wishes to raise funds from the public to be able to undertake the due diligence process to be declared an “Early Stage Innovation Company”
- Assistance in the capital raising process for companies that fit the requirement to be deemed a Crowd Sourced Funding Equity Raising Company
- Assistance with capital raising utilising s708 Corporations Act Capital Raising
- Preparation of Business Plans
- Predictive Accounting – Budgets, Cashflow Forecast, Predicted Balance Sheet
- Virtual Chief Financial Officer Services
- Succession Planning
- Establishment of Research and Development Systems
- Government Grant Advice for SMEs
- Corporate Governance Mentoring
- Business Review Meetings – monthly or quarterly
Upcoming Free Webinars Presented By Towers Business Development
- “Using Section 708 of the Corporations Act to Raise Capital” - Thursday 29th July 2021 at 2.00pm AEST. To register - click here.
- “Corporate Governance Issues for SMEs” - Thursday 5th August 2021 at 12-noon AEST. To register - click here.
- “Identifying Grants for Businesses” - Wednesday 11th August 2021 at 12-noon AEST. To register - click here.
- “Business Review Meetings” - Wednesday 18th August 2021 at 12-noon AEST. To register - click here.
- “Planning Funding for Your Business” - Thursday 26th August 2021 at 12-noon AEST. To register - click here.
Want to know more about the services that Towers Business Development can supply to assist your business in its business growth? You are invited to visit the Towers Business Development website; or contact Peter Towers:
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