Document ID: chunk:federal_register_of_legislation:F2016N00032:body:0:p3
Version: federal_register_of_legislation:F2016N00032
Segment Type: other
Provision Reference: 
Character Range: 6351–9826

Grants under the New and Existing Incubator component.

         6)        Accelerating Commercialisation Grants will provide support for eligible Commercialisation Projects, and Incubator Support Grants will provide support for eligible Incubator Support Projects, in accordance with the Entrepreneurs' Programme – Programme Guidelines.

         7)        The application process will be competitive and based on merit criteria and other information as identified under these Directions. The Board will assess applications against the merit criteria and provide merit assessments to the Programme Delegate for Accelerating Commercialisation Grants and the Minister for Incubator Support Grants under the New and Existing Incubator component.

         8)        The Programme Delegate will consider the Board's advice and select applicants to receive an Accelerating Commercialisation Grant to access specific types and levels of support.

         9)        The Minister will consider the Board's advice and select applicants to receive an Incubator Support Grant under the New and Existing Incubator component.

         10)    Recipients will be monitored closely and on-going support will depend on meeting funding agreement obligations.
7 Board to have regard to policy objective

      The Board must have regard to the following policy objective in giving effect to these Directions:

              (a)                    The policy objective of Accelerating Commercialisation is to encourage and assist small and medium businesses, entrepreneurs and researchers to commercialise novel products, processes and services;

              (b)                    The policy objective of Incubator Support is to assist new and existing incubators to improve the prospects of Australian start-ups achieving commercial success in international markets. This would be achieved through assisting Australian start-ups to develop the capabilities required to realise their economic potential in international markets faster than they otherwise would; and

              (c)                    develop Australia's innovation ecosystem.

Part 2: Assessment and Merit Ranking of Applications Procedure
8. Merit Criteria and Ranking

         1)         The merit of Eligible applications must be assessed as described in the Entrepreneurs' Programme – Programme Guidelines.

         2)         For Accelerating Commercialisation, subject to clause 9(3), the Board will assess each Eligible application on its merit, according to the extent to which the application meets the merit criteria.

         3)         For Incubator Support, subject to clause 9(4), the Board will assess each Eligible application on its merit, according to the extent to which the application meets the merit criteria.

         4)         The Board will provide a merit ranking of applications to the Programme Delegate in the case of Accelerating Commercialisation Grants and to the Minister in the case of Incubator Support Grants under the New and Existing Incubator component.
9. Assessment Procedure

         1)        The Board must consider Eligible applications as soon as practicable after those applications have been provided to the Board.

         2)        The Board may request additional information from an applicant after the lodgement of an application.

         3)        For Accelerating Commercialisation Grant applications:

              (a)                    The Board will