Document ID: chunk:federal_register_of_legislation:F2023L01690:clause:1_2:p1
Version: federal_register_of_legislation:F2023L01690
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 1/7)
Character Range: 1991–5274

2  After paragraph 4.25
Insert:

       CHAPTER 5—AUSTRALIA'S ECONOMIC ACCELERATOR PROGRAM

5.1    Program

The Australia's Economic Accelerator Program is specified for the purpose of assisting higher education providers to undertake programs of research, in areas of national priority, that progress development of technologies and services to a state of commercial investor readiness, under item 14 of the table in subsection 41-10(1) of the Act.

5.5   Program objectives

The objectives of the Australia's Economic Accelerator Program are to provide grants that:
          (a) support higher education providers to bridge the divide between basic research activities and commercialisation outcomes, through closer engagement with industry partners;

         (b) support research activities aligned to national priority areas, undertaken by higher education providers;

         (c) boost the research capability of higher education providers to conduct research with high commercialisation potential;

         (d) foster a culture of collaboration between universities and industry, including greater job mobility and career development opportunities within both sectors; and

         (e) encourage industry engagement with university research, boosting research capability in areas with the greatest potential for economic impact.

5.10   Approval of grants

Grants under the Australia's Economic Accelerator Program will be:
          (a) approved by the Minister in writing;

         (b) made in respect of projects; and

         (c) subject to conditions imposed on the grant by the Minister in writing under subsection 41-25(2) of the Act.

5.15   Priority managers

For the purposes of paragraph 42-75(1)(a) of the Act, the functions of a priority manager in relation to the Australia's Economic Accelerator Program are to:
          (a) provide advice to the department in relation to the Australia's Economic Accelerator Program;

          (b) provide advice to potential grant recipients on how grant applications may best align with the objectives of the Australia's Economic Accelerator Program;

         (c) assess initial pitches submitted by eligible higher education providers for Ignite Grants and provide advice on whether the project that is the subject of the pitch satisfies the eligibility criteria set out in the Act and these Guidelines and any other selection criteria notified by the department;

         (d) make recommendations to the department on the merits of eligible Ignite Grant applications that are submitted for consideration for grants under Part 1 of this Chapter;

         (e) assess initial expressions of interest submitted by providers for Innovate Grants, and provide advice on whether these expressions of interest satisfy the eligibility criteria set out in the Act and these Guidelines and any other selection criteria notified by the department;

         (f) short-list eligible Innovate Grant applications that are submitted for grants under Part 2 of this Chapter, and provide the shortlist to the AEA Advisory Board for its consideration, prior to the Board making recommendations to the Minister or the department;

         (g) drive a commercialisation culture and increased capability, knowledge