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Commercialisation and growth

Towers Business Development News

This is the second segment of the ‘Industry Growth Program’ that the Federal Government announced a few days ago.

The ‘Commercialisation and Growth Projects’ can attract a government grant of $100,000 – $5million on a 50-50 basis. These grants are available to qualifying companies that are involved in the ‘priority areas’:

  • value-add in resources
  • value-add in agriculture, forestry and fisheries
  • transport
  • medical science
  • renewables and low emission technologies
  • defence capability
  • enabling capabilities

The funding is available for activities which are described as:

Laboratory testing/validation of alpha prototype: design, development and lab testing of technological components.

Laboratory testing of integrated/semi-integrated system: system components and process validation

Prototype system verified: system/process prototype demonstration in an operational environment

Integrated pilot system demonstrated: in an operational environment

System incorporated in commercial design: system/process completed and qualified through test and demonstration

System proven and ready for full commercial deployment.

Whilst advisers are to be appointed to give assistance to companies once they’ve been accepted into the project, many companies will benefit by obtaining advice on this program and in identifying the directors’ key objectives and vision, so that these can be outlined in the discussion with the Industry Growth Program Advisor.

Also, we do not believe that the Government Appointed Advisers will assist the company in the preparation of Business Plans, Predictive Accounting Reports (budgets, cash flow forecasts and projected balance sheets) nor the evaluation of the company’s opportunities to raise capital direct from the market utilising Early-Stage Innovation Company, Crowd Sourced Funding Equity Raising or Section 708 of the Corporations Act.

To find out more about the Industry Growth Program, contact Towers Business Development on 1800 232 088 or email , and we will arrange a complimentary initial consultation via Zoom.

Commercialisation and growth