Document ID: chunk:federal_register_of_legislation:F2007L03544:body:0:p3
Version: federal_register_of_legislation:F2007L03544
Segment Type: other
Provision Reference: 
Character Range: 5778–9185

Merit may be indicated by the company through:
         * an appropriate level of expertise in:
                + commercialisation management;
                + project management; and
                + business management, including in human resources and financial management.
         * a core business which is directly relevant to the project;
         * demonstrated company stability and/or growth over the last two years; and
         * a business plan which includes and supports the proposed project.

    Criterion 2:  Commercial potential of the project

    Merit may be indicated by the company through:
         * a solid track record in commercialisation and marketing of innovative products or services;
         * a well articulated and sound commercialisation strategy;
         * a realistic appraisal of the commercial potential for the project outcomes, including demand for the product;
         * an understanding of the route to market for the project, such as trade barriers, access to manufacturing and timeframe to commercial exploitation; and
         * an understanding of the competitive situation the project outcomes will face, including:
                + the extent of competitive advantage the project's commercial outcomes will have on factors such as cost, IP position, and strengths and weaknesses compared to competing products; and
                + the frequency with which new products or services enter the market.

              Criterion 3:  Technical strength of the project, and the technical capability and resources available to the applicant

    Merit may be indicated by the company through:
         * the technical capacity to undertake the project, including:
                + adequate infrastructure, facilities and equipment available to meet the short and long-term requirements of the project;
                + a good understanding of technical product development, testing and production start-up; and
                + appropriately skilled technical staff and/or sub-contractors.
         * a well-articulated project plan, including methodologies and milestones linked to a feasible timeframe;
         * a strong track record in the project field;
         * a project with an appropriate level of innovation; and
         * a project with an appropriate level of technical risk, demonstrated by uncertainty over the results.

    Criterion 4:  Extent to which the project is likely to provide National Benefits

    Merit may be indicated by the company through:
         * how the project will improve national productivity and contribute to economic growth;
         * how the project will result in social, community and/or environmental benefits; and
         * that significant spill-over benefits will accrue to Australia through conduct of the project and/or commercialisation of its results, including:
                + diffusion of knowledge and skills;
                + diffusion of new products, processes or services; and/or
                + increased collaboration between businesses and/or businesses and research institutions.

    Criterion 5:  Need for funding

    Merit may be indicated by the company through:
         * the project budget is realistic; and
         * Commercial Ready funding is required for the project to progress satisfactorily, for one or more of the following reasons:
                +