Industry Growth Program: Commercialisation and Growth

Industry Growth Program: Commercialisation and Growth

  • Applications are open on an ongoing basis.
  • The Commercialisation and Growth grant opportunity offers a minimum grant of $100,000 and a maximum of $5,000,000, with a mandatory 50 per cent contribution towards eligible project expenses.

Commercialisation and Growth grants target innovative projects in the prototyping to market-readiness stages. Activities involve devising market entry strategies, speeding up growth, and expanding into national and international markets.

Key Requirements

The Industry Growth Program aims to assist innovative Small and Medium Enterprises (SMEs) in conducting commercialisation and/or growth projects within the priority areas outlined by the National Reconstruction Fund (NRF). These priority areas include:

  1. value-add in resources
  2. value-add in agriculture, forestry and fisheries
  3. transport
  4. medical science
  5. renewables and low emissions technologies
  6. defence capability
  7. enabling capabilities.

The Industry Growth Program aims to support innovative SMEs in NRF priority areas by:

  • commercialising their concepts into new products, processes, and services;
  • enhancing their ability to engage in national and/or international trade;
  • and positioning them for future investment and scaling opportunities.

The intended outcomes of the program are to enhance trade in domestic and international markets by improving the commercialisation and growth capabilities, as well as performance, of participating businesses, ultimately facilitating the scaling up of these businesses.

During the commercialisation and growth phases, businesses may develop strategies to enter the market, accelerate growth, and expand into both national and international markets.

The project duration ranges from 12 to 24 months, with completion required within 2 years of the project start date, unless approved by the Program Delegate.

What is eligible for funding?

To qualify, your project must:

  • aim to commercialise and/or scale up an innovative product, process, or service for entry into national and/or international markets
  • align with the outcomes and objectives of the Commercialisation and Growth grant opportunity
  • have at least $200,000 in eligible expenditure
  • not exceed the maximum allowable grant funding of $5,000,000
  • not duplicate activities funded by a previous Industry Growth Program grant for the same innovation.
Commercialisation and growth projects encompass those demonstrating feasibility studies and proof-of-concept completion. They cover the development journey from early prototyping to full-scale production and market expansion. Eligible activities include testing, prototyping, design, cost modeling, and product availability to customers.

Grant funds must be spent on eligible expenditure incurred within the agreed project period as defined in the grant agreement. Expenditure must be directly related to the project, not benefit related bodies, and adhere to eligible expenditure guidelines.

What companies are eligible for funding?

To qualify, you must have an Australian Business Number (ABN), be non-income-tax-exempt, and be registered for the Goods and Services Tax (GST). Additionally, you must be one of the following entities: a company incorporated in Australia, a cooperative, or an incorporated trustee applying on behalf of a trust.

We only consider applications from program participants who meet the following criteria:

  • having a combined annual turnover of less than $20 million for each of the three financial years preceding the application lodgment,
  • receiving a report from the program’s Advisory Service,
  • having ownership or access to any Intellectual Property (IP) necessary for the commercialisation and growth project,
  • and possessing evidence of the ability to fund your portion of eligible project expenditure, such as a funding strategy and relevant financial documents. An accountant declaration confirming your financial capacity to support the project is mandatory.

Is this grant competitive or entitlement based?

Competitive. Your application will be assessed among other applications by a judging panel.

How can I increase my chances of winning this grant?

By engaging an accredited government grants consultant, such as Avant Group.

Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.

As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.

Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project

  • Industry analysis presentation
  • Competitor Analysis Presentation
  • Marketing and Sales Analysis Presentation
  • 3-5 year Cashflow Forecast
  • 3-5 year Balance Sheet Forecast
  • Cost-Benefit Analysis of Grant Funding
  • End-to-end grant application including information collating, analysis and application writing
  • CAPEX (Capital Expenditure) cost-benefit analysis
  • Stakeholder relations and Risk Mitigation Plans
  • Any other relevant forecasting that will support your application

How can I get help with my application? Or know if I’m likely to win funding?

Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.