Industry Growth Program Early Stage Commercialisation

Purpose and Program Overview

The Industry Growth Program Early Stage Commercialisation stream is a valuable resource for innovative SMEs in Australia. It is designed to help businesses develop and establish the commercial viability of their innovative products, processes, or services at an early stage. This includes projects in the feasibility study, proof-of-concept, and prototyping phases, providing a crucial stepping stone for SMEs in their commercialisation journey.

The program aims to advance projects typically at Technology Readiness Levels (TRL) 3 to 6. It seeks to enhance commercialisation capabilities and strengthen a business’s ability to secure further investment. The grant contributes to building Australia’s capacity for innovation and brings new Australian products, processes, and services to national and international markets.

This stream is part of the broader Industry Growth Program, which complements the National Reconstruction Fund (NRF) by supporting projects within its priority areas. The overall program plays a crucial role in fostering economic growth and strengthening Australia’s industrial capabilities, offering a hopeful outlook for the future.

Key Details of IGP Early Stage Commercialisation Stream

• Grant Amount or Funding Range: Grants range from $50,000 to $250,000.
• Application Open and Close Dates: Applications are accepted on an ongoing basis; applicants can submit their applications at any time.
• Eligible Industries or Business Types: Innovative SMEs and startups undertaking early-stage commercialisation projects within the National Reconstruction Fund priority areas.
• Required Co-contributions: Applicants must provide a 50% contribution towards eligible project expenses (matched funding).
• Location/State/Territory Applicability: Australia-wide.

Priority Sectors

The program targets projects within the Australian Government’s National Reconstruction Fund (NRF) priority areas. These include:

• Value-add in resources
• Value-add in agriculture, forestry, and fisheries
• Transport
• Medical science
• Renewables and low emissions technologies
• Defence capability
• Enabling capabilities

Funding Scope

The Early Stage Commercialisation stream focuses on validating the commercial potential of innovative solutions:

• Minimum Grant Amount: $50,000.
• Maximum Grant Amount: $250,000.
• Categories or Streams of Funding: This stream specifically supports projects at early stages of commercialisation, generally TRL 3 to TRL 6. This covers activities from feasibility studies and proof-of-concept development to early prototyping and testing.
• Project Timeline or Eligible Funding Duration: Projects must have a minimum duration of 6 months and a maximum duration of 24 months.

Eligibility Criteria

To be eligible for an Early Stage Commercialisation grant, businesses must meet these key requirements:

• Advisory Service Report: Must have first received an Advisory Service report from an Industry Growth Program Adviser.
• Business Structure: Must be a company incorporated in Australia, a co-operative, or an incorporated trustee applying on behalf of a trust.
• ABN/GST Status: Must have an Australian Business Number (ABN) and be registered for GST.
• Tax Status: Must not be exempt from paying income tax.
• Turnover: Must have a combined annual turnover of less than $20 million for each of the three preceding financial years.
• Project Eligibility: Project must aim to introduce an innovative product, process, or service to national and/or international markets.
• Eligible Expenditure: Project must entail a minimum of $100,000 in eligible expenditure (requiring a $50,000 grant).
• Intellectual Property: Must own or have access to the necessary Intellectual Property (IP) for the project and have exclusive rights to commercialise any IP generated.
• Financial Capacity: Must demonstrate the ability to fund their 50% share of eligible project expenses.
• Technology Readiness Level (TRL): Projects should generally be at TRL 3 to TRL 6.

Eligible Activities and Expenses

The grant funding can be used for activities and expenses that help validate the commercial potential of an innovative product, process, or service. These include:

• Feasibility studies.
• Proof-of-concept development.
• Early prototype production and testing in simulated or theoretical settings.
• Activities to validate the commercial viability of innovative solutions.
• Expenses related to enhancing commercialisation capabilities.
• Activities designed to strengthen the business’s ability to secure investment.

Assessment Process

The Industry Growth Program Early Stage Commercialisation grant is competitive.

The independent Industry Growth Program Committee assesses applications based on merit. Key evaluation criteria include:

• Project Innovation and Market Potential: The novelty and commercial viability of the proposed product, process, or service.
• Strategic Alignment: How well the project aligns with the objectives of the Industry Growth Program and the National Reconstruction Fund priority areas.
• Technical Merit and Feasibility: The likelihood of successful technical development and delivery of the project outcomes.
• Capability and Track Record: The applicant’s ability and experience to complete the project successfully.
• Budget and Value for Money: The appropriateness of the budget and how the grant funding will contribute to significant outcomes.

IGP Early Stage Commercialisation Recent Updates

The Industry Growth Program, including its Early Stage Commercialisation stream, commenced on 27 November 2023, replacing the former Entrepreneurs’ Programme. This program represents a focused effort to support innovation within the National Reconstruction Fund priority areas. It provides a structured pathway from advisory services to grant funding. Importantly, applications are accepted continuously, empowering businesses to submit their applications at a time that suits them best.

Application Tips

• First, seek and obtain an Advisory Service report from an Industry Growth Program Adviser, as this is a mandatory prerequisite for a grant application.
• Ensure your project fits within Technology Readiness Levels (TRL) 3 to 6 and demonstrates strong innovative aspects.
• Prepare a detailed project plan that outlines how the funding will specifically help establish the commercial viability of your innovation.
• Ensure that all financial documentation demonstrates your ability to meet the 50% matched funding requirement.
• Clearly articulate how your project aligns with one or more of the National Reconstruction Fund priority areas.

Where to Get Help for IGP Early Stage Commercialisation

Consider consulting with a professional grant specialist, such as Pattens Group. We offer initial assessments to review your business’s eligibility and evaluate how well your project aligns with the grant’s objectives. You can also visit the official website for guidance, templates, and further resources.

Other Streams of Industry Growth Program

IGP Commercialisation and Growth