Cash for ideas? Here’s how

Want help marketing your clever new product ideas? Commercialisation Australia – the Rudd Government’s $196 million new support initiative for home-grown innovation – is open for applications.

Says Senator Kim Carr, Minister for Innovation, Industry, Science and Research, “I call on all innovators wishing to bring their product to the marketplace to apply for tailored, hands-on assistance from Commercialisation Australia. It’s a merit-based, competitive assistance programme and will support applications with the strongest commercial potential.”

Commercialisation Australia will assist researchers, entrepreneurs and innovative firms to commercialise their ideas, offering grants on a co-contribution basis including:

• Up to $50,000 to pay for specialist advice and services;

• Up to $200,000 over two years to engage experienced executives;

• Proof of concept grants up to $250,000 to test the commercial viability of a new product, process or service; and

• Repayable grants up to $2 million to develop a new product, process or service to the stage where it can be taken to market.

There is no deadline for submitting applications.Pre-application checklist, details on eligibility and merit criteria can be found at www.commercialisationaustralia.gov.au

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