The Australian Federal Government and Western Australian State Government provide a range of grants and assistance programs that are useful to startups and established companies conducting R&D, commercialising innovations or exporting.
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The Federal Government's Innovation and Commercialisation assistance program is open for applications and is accessible through the new consolidated business.gov.au web site, which consolidates programs managed by Ausindustry and other agencies.
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These include:
\n\nR&D Tax Incentive for a credit or refund of up to 43.5% of eligible R&D expenditures in the most recent tax year from 1 July. If you are a larger company and want to know how to make best use of this program, and build it into your innovation and NPD processes, please contact us.
\n\tEntrepreneurs Program, the elements of which likely to be of most interest are:
\n\tAccelerating Commercialisation, for advice and 50/50 grants up to $1,000,000
\n\t\tBusiness Growth, for 50/50 grants up to $20,000 to co-pay advisers who can assist with developing and implementing growth plans.
\n\t\tFor a great little video overview go to: www.business.gov.au/Assistance/Entrepreneurs-Programme-Summary/Entrepreneurs-Programme-video
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\n\nThe WA Department of Agriculture and Food (DAFWA) currently has a $22.1m Research & Development Fund available
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\n\nExport Market Development Grant provides 50% reimbursement by Austrade of export promotion expenses above $10,000.
\n\nOther assistance for exporters is available from Austrade, which provides a range of information and services to assist planning, researching and entering overseas markets. Austrade also facilitates Foreign Direct Investment (FDI) into Australia.
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