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Early-Stage Commercialisation

Towers Business Development News

Funding for Early-Stage Commercialisation will normally relate to activities beyond the initial R&D activities will be able to be applied for by companies with turnovers less than $20million, as part of the ‘Industry Growth Program’.

Projects are intended to include the journey from feasibility studies and the development of proof of concept, through to the production and testing of early prototypes in a simulated or theoretical environment.

Testing should validate the commercial viability of the innovative product, process or service.

The Early-Stage Commercialisation funding is a grant on a 50-50 basis of $50,000-$250,000 for eligible applicants generally for activities which are described as:

Critical Function or Proof of Concept Established: applied research and early-stage development begins. Studies and laboratory measurements validate analytical predictions of separate elements of the technology. Examples include research on materials, components, or processes that are not yet integrated.

Laboratory Testing/Validation of Alpha Prototype: design, development and lab testing of technological components are performed. Results provide evidence that applicable components/process performance targets may be attainable based on projected or modelled systems.

Laboratory Testing of Integrated/Semi-Integrated System: system components and/or process validation is achieved in a relevant environment.

Prototype System Verified: system/process prototype demonstration in an operational environment.

Whilst Advisers are to be appointed to give assistance to companies once they have 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.

To find out more about ‘Industry Growth Program’, contact Towers Business Development on 1800 232 088 or email .

Early-Stage Commercialisation