What does "novel" mean in this context?
To qualify, you must be commercialising something that is new to the market — not just new to your business. The program targets genuine innovations that have commercial potential and are not yet commercially available.
This typically means: a new product you've invented or developed, a proprietary process, a novel service model, or a technology application that hasn't been done before. The assessment team looks at whether the product/service is genuinely differentiated and whether there's evidence of commercial potential.
What does it fund?
Accelerating Commercialisation funds activities that help you get your product or service to market: market validation, business case development, proof of concept work, IP protection, regulatory approvals, product development to commercial-ready stage, and initial sales and marketing for market entry.
The 50/50 matched co-contribution requirement means you're putting in at least as much as the government — which signals genuine commitment to the project.
How competitive is it?
Highly competitive. Acceptance rates can be around 10–20%. Successful applications demonstrate: clear evidence of novelty (why this is different from what exists), a compelling commercial case (market size, revenue potential), a credible team to execute, and a realistic use of the grant funds.
Most successful applicants work with a specialist adviser who understands the assessment criteria and what the program is looking for.
Common Questions
Can I apply if I've already started commercialising?
Yes — the program is for businesses at or approaching the commercialisation stage, not necessarily pre-revenue. But activities funded must start after grant approval.
What's the co-contribution requirement?
50/50 matched — for every dollar of grant, you contribute an equal dollar in cash or in-kind.
Program details change — always verify current eligibility criteria and application requirements on the official government website before applying.
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