Changes have been made to the Commercialisation Australia program to give Australian inventions an even better chance of flourishing in the market place.
Australian entrepreneurs will not have to repay Early Stage Commercialisation grants for businesses developing a new product, process, or service. Plus, these grants will be available to more businesses, as the annual turnover limit for applicants will rise from $20 million to $50 million.
In addition, growing businesses that can benefit from access to skilled managers now have the option to apply for an Experienced Executives grant of up to $350,000
– up from $200,000.
The changes take effect from 7 December 2011.
For more information, please see the Customer Information Guide.
To access the Minister's media release, please see the Minister's website.