34 new inventions have received grants of up to $2 million to commercialise their projects under the Federal Government’s new Commercialisation Australia initiative.

 

Commercialisation Australia is designed to assist researchers, entrepreneurs and innovative companies convert intellectual property into sustainable commercial ventures.

 

In 2010, its first year of operation, Commercialisation Australia awarded a total of $33.6 million for 88 projects.

 

This year, $13 million has been invested into 34 projects ranging from a cloud-based call centre platform and a whole-body vibrating machine, to dementia treatment medicine and a termite barrier for buildings.

 

In this latest round of funding, the grants range from $50,000 to $1,984,652, awarded to  Queensland-based business Euclideon for a new 3D computer graphics technology.

 

There are four merit-based assistance programs offered within Commercialisation Australia.


  • Skills and knowledge support helps build the skills, knowledge and connections required to commercialise intellectual property, providing funding of up to $50,000 to pay for specialist advice and services.

  • Experienced executives provides funding of up to $200,000 over two years to assist with the recruitment of a chief executive officer or other executive.

  • Proof of concept grants of $50,000 to $250,000 to test the commercial viability of a new product, process or service.

  • Early state commercialisation repayable grants of $250,000 to $2 million to develop a new product, process or service to the stage where it can be taken to market.

Further information on Commercialisation Australia is available at www.commercialisationaustralia.gov.au