tJP

COMET - is closed for new applications. See Commercialisation Australia Page for current government grants.

COMET is one of the Australian Federal Government Grants managed by AusIndustry to help a company commercialise an innovation. The grants are provided to typically help raise investment capital for the innovation.

The grants are managed by a group of COMET Business Advisers who qualify applicants. The advisers are based in each of the states and territories and have various areas of interest and skills.  They look at your ideas and work out if its innovative and if it can be commercialised. Typically you would work with an advisor in your state but you may work with another is they have a particular expertise.

If you are successful you will get a grant of up to $64K. This is some 80% of a fund that is setup for you to develop a plan to commercialise your innovation. This fund is used to pay for outside ‘experts’ such as ourselves to then develop a series of plans, such as marketing plans, market sizing,  business plans, export plans and information memorandums that look at the commercial opportunity for the innovation and how is can be successful. It covers legal aspects such as IP, Patents and getting an expert to review your working prototypes. It also covers some training for the entrepreneur to be able to successfully launch a business based on the innovation.

The COMET grants outputs are essentially a business plan that identifies the opportunity and what investment is needed to make the business a success. These plans can be taken to venture capitalists, angel investors, banks etc. to raise the necessary funds.

The COMET programme website is thorough and covers all aspects and has forms, contacts etc for you to download.

the Jenkins Partnership Pty Ltd has skills and experience in developing these plans - if you want to discuss please call us on 0412 799 899 or email info@thejenkinspartnership.com.au