The fund will be managed and administered by the Advanced Manufacturing Growth Centre (AMGC) in collaboration with five fellow Growth Centres NERA, MTP Connect, AustCyber, METS Ignited and FIAL, and CSIRO.
The Commercialisation Fund has been devised to support Australian manufacturing projects to transition a new product or process from the pilot/prototype stage to full commercial operations, with the total Commercialisation Fund pool of $30 million will be administered over 18-months.
The Fund will provide matched grants to Australian manufacturers to assist with commercialising new products and processes that finish between Technology Readiness Level (TRL) 6 to 9. Applications for the co-funding grant must satisfy eligibility criteria and partake in an evaluation process.
The Fund is intended to invest in later stage commercialisation, not early-stage research-based programs. However, project applicants are strongly encouraged to include collaboration with research partners and other Australian manufacturers.
Further information regarding the co-funding grants and application process can be found here.
The Modern Manufacturing Initiative (MMI), as announced as part of the 2020-21 Federal Budget, sets out three major funding streams:
The Commercialisation Fund exists to support the MMI by providing a pathway for companies to build capability and competitiveness across manufacturing SMEs.