Document ID: chunk:federal_register_of_legislation:F2024C00098:body:0:p18
Version: federal_register_of_legislation:F2024C00098
Segment Type: other
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Character Range: 47741–50947

grant recipient's preference to use the HERC IP Framework.

       PART 2—INNOVATE GRANTS

5.40   Purpose of Innovate Grants

Grants may be made to providers under the Australia's Economic Accelerator Program for the purposes described in paragraph 5.5, and specifically, for the purposes of assisting providers with developing and testing prototypes in an operational environment (Innovate Grants).

5.45   Specified bodies corporate and extra conditions of eligibility

Specified bodies corporate

     (1) For the purposes of item 14 in the table in subsection 41-10(1) of the Act, bodies corporate that are in the 'University College' provider category listed in the Higher Education Standards Framework (Threshold Standards) 2021, are eligible to receive Innovate Grants under the Australia's Economic Accelerator program.

Extra conditions of eligibility

     (2) It is an extra condition of eligibility that grant recipients receiving an Innovate Grant:

         (a) nominate an individual engaged by the grant recipient (Lead Entrepreneur) to work on the project over the grant period;

         (b)  be partnered with at least one organisation that is an Australian body corporate;

         (c) demonstrate that, at the time the grant is made, at least one participating organisation has committed cash or in-kind contributions to the project equivalent to the grant amount made to the grant recipient;

          (d) demonstrate how their proposed project aligns with the following national priority areas:

              (i) value-add in the resources sector;
              (ii) value-add in the agriculture, forestry and fisheries sectors;
              (iii) transport;
              (iv) medical science;
              (v) renewables and low emissions technology;
              (vi) defence capability; or
              (vii) enabling capabilities such as data science, artificial intelligence and robotics;
              (viii) a national priority set out in the annual investment plan prepared by the AEA Advisory Board in accordance with section 42-5 of the Act for the relevant year; and
          (e) demonstrate that, at the time the grant is made, all actual or perceived conflicts of interest, pecuniary or otherwise, both within and outside Australia, that exist in relation to the conduct of the proposed project have been disclosed to the department, and the grant recipient has demonstrated that they have taken steps required by the department to resolve or address the conflict.

5.50   Conditions that apply to Innovate Grants

     Conflicts of interest
     (1) The grant recipient must make reasonable enquiries to ensure that no actual or perceived conflicts of interest, pecuniary or otherwise, both within and outside Australia, other than those disclosed to the department consistent with sub-subparagraph 5.45(2)(d), exist in relation to the conduct of the project funded by the Innovate Grant.
     (2) If any actual or perceived conflict of interest, pecuniary or otherwise, both within and outside Australia, arises during the project, the grant recipient must immediately make full disclosure of the conflict to the department, and take any steps that