Commercialisation Australia To Support Innovation
Commercialisation Australia is the Australian Government’s new initiative to support companies and individuals in commercialising new inventions. Commercialisation Australia will assists researchers, entrepreneurs and innovative firms turn new inventions into successful commercial ventures.
Commercialisation Australia is a merit based, competitive assistance program that offers:
- Support to help build the skills, knowledge and connections required to commercialise new inventions, including up to $50,000 to pay for specialist advice and services and up to $200,000 over two years to assist with the recruitment of experienced executives.
- Proof of Concept grants of $50,000 to $250,000 to test the commercial viability of a new invention
- Early Stage Commercialisation repayable grants of $250,000 to $2 million to develop a new invention to the stage where it can be taken to market. This includes patent attorney services for executing an Intellectual Property strategy.
Applicants must be a non tax-exempt company incorporated under the Corporations Act 2001, a researcher applying through a university or Publicly Funded Research Agency (PFRA) commercialisation office, an individual applying through an eligible partner entity or an individual who agrees to form a non tax-exempt company incorporated under the Corporations Act 2001 if the application to Commercialisation Australia is successful.
The first step for potential applicants is to visit the new Commercialisation Australia website at www.commercialisationaustralia.gov.au and fill-in a pre-application checklist.
Please contact Cotters if you would like any further information about the changes or if you wish to request examination on any pending patent applications.
By Marcus Dalton
Cotters Patent & Trade Mark Attorneys
25 January 2010
