The first round of Australia’s Economic Accelerator (AEA) grants is now open.
Australian university researchers and their industry partners will benefit from $180 million in grant funding to commercialise research through 2 streams of grants, known as Ignite and Innovate.
Ignite grants will support early-stage research commercialisation through competitive grants of up to $500,000 for a maximum period of 12 months. These grants are available for researchers at Australian universities to complete basic research, laboratory testing and establish proof-of-concept in an industry-relevant environment.
Innovate grants will support mid-stage research commercialisation through competitive grants of up to $5 million for a maximum period of 24 months. These grants are available for researchers at Australian universities to collaborate with industry to advance projects that already have laboratory proof-of-concept.
AEA grants support the Australian Government identified priority areas for the economy (outlined in the National Reconstruction Fund Corporation (Priority Areas) Declaration 2023) and Future Made in Australia policy.
Within these priorities, the first round of grants will prioritise projects that align with one or more of the following focus areas outlined in the AEA Advisory Board’s Annual Investment Plan 2024-25:
- Critical and strategic minerals processing
- Sustainable fuels
- Digital agriculture
- Quantum
- Artificial intelligence (AI)
- Advanced manufacturing
AEA Advisory Board Chair and CEO of Thales Mr Jeff Connolly said:
“Australian universities have some of the best researchers in the world.
“AEA seeks to enable a part of that research capability to be applied to priority areas identified in National Reconstruction Fund which is designed to transform Australia’s industry and fuel economic prosperity.
"We target projects which seek to match existing research capability to Australia’s natural competitive strengths, in order to best address the most significant industry opportunities.”
The Australian Government is investing $1.6 billion through the AEA program which supports the Government’s Future Made in Australia ambition to build sovereign capability, support innovation, increase job growth and improve economic productivity.
More than $10 million in funding is already supporting 45 projects through the pilot program AEA Seed.
Submissions for Ignite applications and Innovate Expression of Interest close 28 August 2024.
To find out more, visit AEA Grants. For regular updates on the AEA, follow the AEA LinkedIn page.