There are a number of government grants and funding programs available to assist Australian businesses to develop and commercialise their intellectual property (IP). Business.gov.au has a comprehensive list of these grants and programs, including the:
- Export Market Development Grant
- Innovation Investment Fund
- R&D Tax Incentive.
Export Market Development Grant
The Export Market Development Grant scheme is the Australian Government's major financial assistance program for Australian exporters. Grants are available to individuals, partnerships, trusts and companies that qualify with a turnover of up to $50 million.
The scheme supports a wide range of industry sectors and products, including the export of IP outside Australia.
The scheme reimburses up to 50 per cent of expenditure incurred in allowable export marketing activities. To qualify, at least $10 000 will need to have been spent over two years on eligible exporting.
The 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 Research and Development (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. The R&D Tax Incentive is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office.