Document ID: chunk:federal_register_of_legislation:F2011L02659:body:0:p1
Version: federal_register_of_legislation:F2011L02659
Segment Type: other
Provision Reference: 
Character Range: 0–3295

Commonwealth of Australia

Industry Research and Development Act 1986

Commercialisation Australia Program
Direction No. 1 of 2011

I, KIM JOHN CARR, Minister for Innovation, Industry, Science and Research, acting under sections 18A, 19 and 20(1) of the Industry Research and Development Act 1986, give the following direction to Innovation Australia (the Board)

Dated 24.11.11

K. CARR
Minister for Innovation, Industry, Science and Research

PART 1 - PRELIMINARY

Name of direction

     1. This direction is the Commercialisation Australia Program Direction No. 1 of 2011.

     Commencement

    2.             This direction commences on the day on which particulars of the direction are published in the Gazette and registered in the Federal Register of Legislative Instruments.

     Object of this direction

    3.             The object of this instrument is to give direction to the Board in relation to:

         (a)                    the provision of technical assessments and additional functions of the Board, namely

            (i)           providing technical assessments in relation to the Commercialisation Australia program, including, but not limited to, the merit ranking of eligible applications under the program;

            (ii)         assembling information on the early stage commercialisation system which can be used to develop evidence-based policy and to investigate new commercialisation policy approaches and their applicability to the Australian innovation system;

            (iii)       identifying a program of research to measure the effectiveness of the Commercialisation Australia program, to support any potential amendment, or development, of the program and to provide input to Government on commercialisation policy; and

            (iv)       providing advice on pilot program activity to assess the practicality of alternative/new methods of support for commercialisation.

         (b)                   the policies and practices to be followed by the Board in the performance of the functions.

Introduction

    4.             Commercialisation Australia will build the capacity of Australia's researchers, entrepreneurs and innovative firms to take ideas and research to market.  Commercialisation Australia will tailor assistance to the needs of the researcher or firm, focusing on skills, knowledge and funding. It will support projects with the potential for rapid growth, helping to take the innovation to the marketplace in a timely way. The Board will advise the Chief Executive Officer (CEO) on strategic matters in relation to the program and the commercialisation of ideas and research in general. Commercialisation Australia will offer up to $50,000 in funding for expert services, up to $350,000 to employ an experienced executive, up to $250,000 for proof of concept activities and up to $2 million for early stage commercialisation activities.  Importantly, all assistance will be provided with an advisor who will help develop the participant's skills and knowledge of the commercialisation process and facilitate access to experienced business mentors and specialist advice. The application process will be competitive based on merit criteria and other information as identified under these Directions.  The Board