New Industries Fund: Commercialisation Bridge Grant (Australia)

The Commercialisation Bridge Grant (CBG) is a competitive Western Australian government grant, funded through the $25.8 million New Industries Fund.

Launching for the first time in 2023-24, the CBG has been designed to assist WA innovators in bridging the gap – the so-called ‘Valley of Death’ – between a commercialised innovation and a sustainable, scalable business, creating more jobs and economic diversification for Western Australia.

Aims

The aims of the CBG is to assist founder(s)/teams in:

• Western Australia who have been developing their innovation-drive business for at least a few years, have customers and the potential to build a scalable, multi-million dollar business;
• Contributing to, matching and completing a new funding round, without further diluting the investors;
• Strengthening their commercialised product or service, such that it can become a sustainable, profitable and scalable business;
• Building a globally-focused innovative business and team; and
• Creating jobs, developing new industries and assisting in the diversification of the WA economy, as per the Diversify WA framework.

Categories of Funding

Commercialisation Bridge Grants are awarded in any of the following four categories:

• Product Readiness
• Team Readiness
• Intellectual Property Readiness
• Commercialisation Readiness.

Funding Information

• Matching grants of between $50,000 to $200,000 are available. Recipients are required to provide a net cash co-contribution of at least 50:50 applicants to this WA government funding.

Criteria

• The WA Government recognises that innovative startups and small businesses have great ideas, but taking these ideas and turning them into new and sustainable, scalable business opportunities with real commercial outcomes can be difficult.
• A typical startup/ small business who the CBG could fund would:
  • Be based in WA;
  • Have at least a three-year trading history;
  • Have developed a commercial innovation;
  • Have some early customer revenues; but,
  • Not yet achieved ‘break through growth’, (but has the potential to do so).

For more information, visit Government of Western Australia.