Commercialisation help made simpler

The federal government will introduce a new, simpler form of assistance to companies seeking to take their ideas to market from early January 2010.

“Government assistance for commercialising Australian innovation will be simplified through Commercialisation Australia,” Senator Kim Carr, Minister for Innovation, Industry, Science and Research said.

“Commercialisation Australia will open early in 2010 and ensure assistance is adjusted to meet each applicant’s needs rather than trying to make their application fit the program.

“This is a radical new approach to government commercialisation assistance through a single program.

“Case managers will guide applicants through commercialisation, helping them to build their skills and knowledge and, depending on their needs, link them to volunteer business mentors and specialist advice.

“Applicants at the proof of concept stage may be eligible for funding of up to $250,000 and additional, repayable assistance of up to $2 million will be available for early-stage commercialisation activities.

“As Commercialisation Australia comes into operation, the services and assistance it offers will supersede those currently available under the Commercialising Emerging Technologies (COMET) program.

“Commercialisation Australia will become the primary source for Australian government assistance in helping to get ideas into the marketplace.”

With the commencement of Commercialisation Australia, the COMET program will be closed to new applications from 1 January 2010. It will continue to be available to customers who lodge completed applications prior to closure and customers with ongoing COMET grants.

Potential customers are invited to visit the Commercialisation Australia website.