Accelerating Innovation

Accelera
Accelerating Innov
Innovation grants support
rt-up and growth ccompanies with a
start-up
viable, proven concept oor service with
funding that will enable: Funding Support
 Participation in formalised Funding support is milestone-based and
commercialisation trai
training; each claim requires a comprehensive written
report of activities undertaken, outcomes
 IP strategies and aadvice;
achieved and whether objectives were met.
 Establishment
Establishmen of advanced business
Funding will not support marketing activities
processes;
processes
or business plans, travel or accommodation
 Marke
Market research activities; expenses, or the purchase of hardware or
equipment. There is no provision for up-front
 Mentoring; and
funding in advance of any program activities
 Projects that link the technology and and proof of expenditure is required for all
creative industry sectors. funding support.
Accelerating Innovation grants range from All funding support requires a matched
$5,000 to $10,000 and are granted on a dollar- contribution from the applicant equivalent
for-dollar basis based on reimbursement. to the value provided under the grant, and
Assessments for Accelerating Innovation all applications are required to demonstrate
grants are conducted by the BID Client Team the suitability and strategic value of the
running the InnovationConnect program, requested support to the ACT, including the
with final approval by the Senior Manager, potential for long term economic benefit to
Enterprise Development. the ACT.

Further information and details of the initial

application and assessment processes are available
at www.business.act.gov.au.
Telephone enquiries can be made through:
Enterprise Development Canberra Connect on
on 6207 0165 1800 244 659 (Australia) or
or 6207 5816 +61 13 22 81 (International).
InnovationConnect (ICon)
Funding Support for
ACT Businesses

Program description Proof of Technology

InnovationConnect (ICon) is a new ACT Proof of Technology Grants support the
Government program designed to provide development of:
creative innovators and entrepreneurs with
 Prototypes that prove a concept; or
limited funding support that will accelerate
the progress of viable, creative ideas along the  A technology plan or business case
development and commercialisation pathway. study demonstrating whether a
concept is commercially viable.
The program’s objective is to meet an
identified market gap – that of a funded Proof of Technology Grants range from
program of interventions and services aimed at $5,000 to $25,000 and are granted
accelerating the formation of investment-ready on a dollar-for-dollar basis based
companies and entities. The program has on reimbursement. There may be
been designed to assist companies needing opportunity for grants of up to $50,000 in
relatively early stage support in taking an exceptional circumstances.
innovative product or service to investment
Assessments for Proof of Technology
readiness or commercialisation. Therefore,
grants are conducted three times
ICon is not available to companies that have a
per year and are considered by an
turnover of more than $1m per annum.
experienced Assessment Panel made up
The investment-ready or commercialisation of government and independent private
pathway can be loosely broken up into three sector individuals from local private sector
stages: Pre Start-up, Start-Up and Growth. angel and venture capital companies.
ICon has two main funding components that
cover these stages:
 Proof of Technology
(Prestart-Up Stage); and
 Accelerating Innovation
(Start-Up and Growth).