Document ID: chunk:federal_register_of_legislation:F2007L00421:body:0:p3
Version: federal_register_of_legislation:F2007L00421
Segment Type: other
Provision Reference: 
Character Range: 6035–8191

build sustainable and high-growth firms by increasing prospects for successful commercialisation of innovation through the attraction of capital and partners.

    6.             Procedure
       a)             Subject to clause 7, the Board will assess eligible applications and provide a merit ranking of those applications to the Program Delegate;
       b)             The Board must consider eligible applications at least every 60 days.

    7.             The Board may refuse to provide merit ranking
    The Board may decide to refuse to provide a merit ranking in respect of a particular applicant if it is not satisfied with the level of merit of an eligible application in relation to one or more of the Merit Criteria.

PART 3 – ASSESSMENT AND MERIT RANKING OF APPLICATIONS

    8.             Assessment of applications
    Subject to clause 7, the Board must assess each eligible application on its merit according to the extent to which the application meets the Merit Criteria.

    9.             Merit Criteria
    The merit of eligible applications must be assessed against the following criteria:
       a)             Actual or potential management capability to commercialise the innovation with appropriate COMET support;
       b)             Market opportunity and strategy of the innovation;
       c)             Technical feasibility of the innovation; and
       d)             Demonstrated need for COMET funding.

PART 4 – ASSESSMENT AND MERIT RANKING OF APPLICATIONS

    10.         Ad hoc technical assessments
    The Program Delegate may request the Board to provide a technical assessment on any matter arising out of the Assistance Plan.

PART 5 - EVALUATION OF THE PROGRAM

    11. The Board may advise the Minister, or the Minister may request advice, on non-financial administration matters relating to the program, including program administration and the extent to which the program is meeting its objectives.

    12 The Board may collect and analyse data on the performance of the program, provide advice to the Minister on such performance, and will cooperate with any independent evaluation of the program.