Commercialisation Australia is an initiative of the Australian Government. It is a competitive, merit-based assistance program offering funding and resources to accelerate the business building process for Australian companies, entrepreneurs, researchers and inventors.
Funding of $27.7 million over five years has been allocated to Enterprise Solutions Program. Funding to eligible companies will be provided via a competitive grants process aimed to assist Australian companies develop innovative solutions to public sector needs and to bid more successfully for government tenders.
The program is a broad-based, market driven incentive accessible to all industry sectors. It provides a targeted tax offset to support Australian companies to be more innovative, productive and competitive in the global marketplace.
The program enables Australian companies to deduct up to 125% of their research and development expenditure when lodging their tax returns.