News

Innovative startups and high-growth small and medium businesses can apply for grants of up to $5 million to commercialise their ideas as part of the Australian Government’s Industry Growth Program.

There are two grant streams:

• Early-Stage Commercialisation grants from $50,000 to $250,000 to help establish the commercial viability of an innovative product, process or service.
• Commercialisation and Growth grants from $100,000 to $5 million to help push ideas from prototyping through to market readiness stages by developing strategies for entry to market and scaling up into national and international markets.

The grants will provide targeted support to overcome the challenges associated with growing and scaling up, focusing on the National Reconstruction Fund’s seven priority areas:

• value-add in resources
• value-add in agriculture, forestry and fisheries
• transport
• medical science
• renewables and low emissions technologies
• defence capability
• enabling capabilities

The Industry Growth Program is designed to grow small startups into bigger startups and to build Australia’s manufacturing capability for the future.