New Government grants support innovators of intellectual property

The new Commercialisation Australia grants program from the Commonwealth Government came into effect on 1 January 2010. The program offers new opportunities for innovators, businesses and researchers to receive financial assistance to support and protect their intellectual property development and support commercialisation.

Under the program, companies or individuals can access between $250,000 and $2 million in repayable grants. Applications are now open for Commercialisation Australia funding.

Additionally, under changes to the existing Export Market Development Grants, exporters can acquire up to $200,000 for export related intellectual property expenses, including patent filing fees overseas.

Intellectual property is a valuable business asset and businesses are encouraged to take advantage of these funding schemes as they can help with the development, protection and commercialisation of their intellectual property.

Information on eligibility criteria and application processes can be obtained from Stephens Lawyers & Consultants in the February 2010 Intellectual Property Update.

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