Industry Growth Program: Early-Stage Commercialisation

Industry Growth Program: Early-Stage Commercialisation

  • Applications are open on an ongoing basis.
  • The Early-Stage Commercialisation grant opportunity, spanning from $50,000 to $250,000, mandates a 50% contribution towards eligible project expenses.

Early-Stage Commercialisation projects include the entire process, starting from feasibility studies and proof-of-concept development, all the way to producing and testing early prototypes in simulated or theoretical settings. The grants support projects and business activities aimed at validating the commercial potential of your innovative products, processes, or services.

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 aim of the Early-Stage Commercialisation grant opportunity is to assist businesses in taking the necessary measures to validate the commercial potential of an innovative product, process, or service, from feasibility and proof-of-concept stages through to prototyping.

The Early-Stage Commercialisation grant supports projects and business initiatives aimed at advancing businesses in the following outcomes:

  • enhancing their commercialisation capabilities,
  • refining innovative products, processes, or services for commercialisation readiness (such as developing prototypes and conducting early testing),
  • and strengthening their ability to pursue and secure investment.
The project duration must be a minimum of 6 months and a maximum of 24 months, ensuring completion within two years from the project’s commencement date.

What is eligible for funding?

To qualify, your project must aim to introduce an innovative product, process, or service to national and/or international markets, align with the objectives of the Early-Stage Commercialisation grant opportunity, entail a minimum of $100,000 in eligible expenditure, not exceed the maximum grant amount of $250,000, and not involve activities funded through a previous Industry Growth Program grant for the same innovation.

Early-stage commercialisation projects encompass various stages, from feasibility studies and proof-of-concept development to the production and testing of early prototypes in simulated or theoretical environments, validating the commercial potential of the innovation. These projects typically progress through Technology Readiness Levels (TRLs), ranging from TRL3 to TRL6, and may involve activities such as feasibility studies, small-scale testing, system integration, prototype testing, design work, cost modeling, and partner identification.

Grant funds can only be used for eligible expenditure incurred within the agreed project scope outlined in the grant agreement. Eligible expenditure must be incurred by the applicant during the project period, directly related to the project or project audit activities, not benefit related bodies, and adhere to the eligible expenditure guidelines. Expenditure must be incurred between the project start and end dates, unless otherwise specified.

What companies are eligible for funding?

To qualify, you must: have an Australian Business Number (ABN), not be income tax-exempt, and be registered for Goods and Services Tax (GST) as either a company incorporated in Australia, a cooperative, or an incorporated trustee applying for a trust.

Additionally, applicants must have a combined annual turnover of less than $20 million for each of the three financial years preceding the application submission, have received a report from the program’s Advisory Service, possess or have access to the necessary Intellectual Property (IP) for their early-stage commercialisation project, and hold ownership or exclusive rights to commercialise any resulting IP.

Furthermore, evidence demonstrating the ability to fund at least your portion of eligible project expenses, such as a funding strategy and relevant financial documentation like a bank statement or loan agreement, is required. An accountant declaration confirming financial capability to support the project is also 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.