The launch of Commercialisation Australia will coincide with the closure on 1 January 2010 of the Commercialising Emerging Technologies (COMET) program to new applications. Prior applications and ongoing COMET grants will continue to be serviced.

Beginning in early January 2010, the Federal Government will launch Commercialisation Australia ^[1], a more tailored and simplified support service for companies seeking to take their ideas to market. (More on that here ^[2] and here ^[3].)

Under the new system, applicants will be allocated case managers to guide them through the process of commercialisation as well as helping to build skills and, if required, provide links to volunteer business mentors and specialist advice.

Initial proof of concept stage funding of up to $250,000 will be available to eligible applicants and a further $2 million of repayable assistance will be available for early stage commercialisation activities.