Cheat sheet: How to secure an Accelerating Commercialisation Grant
The Accelerating Commercialisation Grant gives SMEs and entrepreneurs access to up to $1 million in matched project funding, alongside an expert from AusIndustry that will work with your business to guide your commercialisation process.
It exists as part of the broader Entrepreneurs’ Programme run through the Department of Industry, Science, Energy, and Resources.
To get access to the grant, you first need to receive ‘Commercialisation Guidance’ through AusIndustry, which gives your business a facilitator from the department. They will give you tailored support, including feedback before applying for the grant, and help to develop your commercialisation strategy.
How much can I get?
Since its launch in 2014 and first round of funding in 2015, some 531 businesses have received money through the grant. The lowest amount funded through the grant is $40,000, while 47 businesses have been funded the maximum allocation, $1 million.
In total, it has paid out $259.9 million to date.
The funding amounts are two-tiered. Businesses can get up to $1 million, but researchers working with universities, institutes, or government departments/agencies are capped at $500,000.
At the top line level, you need to have a novel product, process or service that you want to commercialise for either overseas markets, or Australia.