NICTA’s Business Development activities are integrated into the research process from developing a concept to realising an outcome.
Early-stage commercialisation activity in NICTA projects focuses on understanding the target market and identifying customers and/or industry partners.
Commercialisation activity becomes more structured when the project team’s focus shifts to include a substantial commercial outcome. At this stage, the Board Commercialisation Committee and NIPR may provide additional resources. At NICTA, there are two main paths to commercialisation: licensing or spinning out a company.
Funding
NICTA offers generous financial support to research projects which show potential to deliver commercial impact.
By the end of June 2007, NICTA had provided NIPR with a substantial commercialisation fund. This fund is used to provide:
- Market Validation Grants – by the end of July 2007, 12 Market Validation Grants were awarded to NICTA research projects
- Commercialisation Development Investments – by the end of June 2007, two Commercialisation Development Investments were awarded to NICTA research projects
- Launch Co-Investments
- Other commercialisation investments or costs approved by the Board Commercialisation Committee.
NICTA may provide a total cash investment per project of up to $500,000 through this process – provided the investment is consistent with NIPR's fund’s prudential guidelines. This sum includes grants to the NICTA project and investments in any commercialisation vehicle (including a spin-out company).