Government package to drive innovation

The government has launched the final arm of its $484.2 million Entrepreneurs Infrastructure Program, the Accelerating Commercialisation stream, which is designed to help Australian businesses through the commercialisation process.

The new Accelerating Commercialisation initiative will provide businesses with access to expert advice, experience and networks to help guide them through the process of attracting investment and getting new ideas into the marketplace.

Eligible businesses and innovators may also receive a matching grant of up to $1 million. 

The Entrepreneurs’ Infrastructure Program is part of the government’s new industry policy and works in conjunction with the Industry Innovation and Competitiveness Agenda. It offers support to businesses through the following three elements:

• Business Management, providing support for business improvement and growth
• Research Connections, helping small and medium businesses collaborate with the research sector to develop new ideas with commercial potential
• Accelerating Commercialisation, helping entrepreneurs, researchers, start-ups and businesses address challenges in the commercialisation pathway.

Information is also available through the Department of Industry’s Single Business Service, via phone on 13 28 46 or the web www.business.gov.au.