Industry Growth Program: Commercialisation and Growth

Objectives:

• Support specific commercialisation and growth projects for SMEs.
• Facilitate development of marketplace strategies for market entry.
• Accelerate business growth and scaling into national and international markets.

Target Beneficiaries:

• Small and medium enterprises (SMEs) with an Australian Business Number (ABN).
• Entities must be non-income-tax-exempt and registered for GST.
• Eligible entities include Australian incorporated companies, co-operatives, or incorporated trustees applying on behalf of a trust.
• Must have a combined annual turnover of less than $20 million for each of the three financial years prior to application.
• Must have participated in the Industry Growth Program Advisory Service and received a report.
• Must own or have access to necessary Intellectual Property (IP) and exclusive rights to commercialise IP generated from the project.
• Must demonstrate ability to fund at least their share of eligible project expenditure with supporting evidence (e.g., funding strategy, bank statement, accountant declaration).

Funding Details:

• Grants range from $100,000 to $5,000,000 AUD.
• Funding supports commercialisation and growth stages including market entry strategies and scaling.

Application Process:

• Applications accepted only from participants in the Industry Growth Program Advisory Service.
• Submit applications via the business.gov.au portal: https://portal.business.gov.au/
• Contact support available via phone (13 28 46), email (enquiries@industry.gov.au), and web chat for assistance.

Key Features:

• Open non-competitive selection process.
• Program administered by the Department of Industry, Science and Resources.
• Available across all Australian states and territories.
• Emphasis on leveraging IP and proven business capability for growth.
• Ongoing application opportunity with no fixed closing date.

This program is designed to help Australian SMEs commercialise innovations and expand their market reach effectively with government support.