Funding and grants
There are a number of government grants and funding programs available to assist Australian businesses develop and commercialise their IP.
business.gov.au provides information and a comprehensive database on the programs available
A merit based, competitive assistance program that helps talented researchers, individuals and innovative companies commercialise their ideas.
Commercialisation Australia is a merit based, competitive assistance program that helps talented researchers, individuals and innovative companies convert intellectual property into successful commercial ventures. The initiative is designed to help successful applicants through the commercialisation process and is tailored to meet differing needs.
Through Commercialisation Australia, successful applicants can also access a range of experienced mentors who will lend their knowledge, skills and experience to help successful applicants turn their ideas into a commercial reality.
Export Market Development Grant
The Export Market Development Grant (EMDG) scheme is the federal Government's major financial assistance program for Australian exporters. Grants are available to qualifying individuals, partnerships, trusts and companies with a turnover of up to $50 million.
The scheme supports a wide range of industry sectors and products, including the export of intellectual property outside Australia.
The scheme reimburses up to 50 per cent of expenditure incurred in allowable export marketing activities. Grants are available to individuals, partnerships, trusts and companies with a turnover of up to $50 million. To qualify, at least $10,000 will need to have been spent over two years on eligible exporting.
The EMDG scheme is administered by Austrade.
Innovation Investment Fund (IIF)
The Innovation Investment Fund (IIF) invests in venture capital funds to assist small companies in the early stages of commercialisation.
The IIF promotes the commercialisation of Australian research and development, through the injection of venture capital into small, high-tech companies at the seed, start-up or early expansion stages of their development. Funds come from the Australian Government and private sector. There are funds that focus on specific industry sectors.
R&D Tax Incentive
The R&D Tax Incentive is the Australian Government's principal measure to encourage industry investment in research and development. It is a broad-based, market-driven program that aims to boost company competitiveness, improve productivity and deliver economy-wide benefits to Australia.
The R&D Tax Incentive replaces the R&D Tax Concession for research and development in income years commencing on or after 1 July 2011. It provides generous benefits for eligible research and development activities (R&D activities). The R&D Tax Incentive is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office (ATO).
Other government incentives
There are a range of Australian and state and territory government incentive programs to encourage innovation. business.gov.au has a complete state by state listing.
Last Updated: 10/12/2012