Small DOIR grants a lifeline

Inventors in need of small grants can approach the office of Science, Technology and Innovation within the state Department of Industry and Resources to access a range of schemes to assist in skills training and initial development.

Schemes include the Innovation in ICT Program for commer-cialisation, a Capital Access Program to help business access public funding programs and private investors, together with a Business Development and Skills Training scheme specifically for the biotechnology industry.

General manager of innovation and commercialisation at DOIR, Roy Chapman, said money, markets and management were the keys to commercial success.

“There are a lot of venture capitalists sitting on the east coast that won’t invest in any project worth less than $1 million. DOIR grants are great for projects valued between $150,000 to $300,000,” he said.

With small DOIR grants, a company can then prepare to apply for larger federal govern-ment grants, through federal support agency AusIndustry.

AusIndustry state manager Peter Viney said that, over the past 20 months, WA was the largest recipient of grant support with 17 per cent of federal grant money awarded to companies in this state, totalling $53 million.

One of many grants available is the Commercialising Emerging Technologies or COMET grant, which has been extended until June 2011 and is valued up to $64,000. Assistance is given to early-growth stage companies, spin-off companies and individuals.

AusIndustry engages private sector business advisors to assist successful applicants to commer-cialise their innovation, provide financial assistance and access to business advice. Larger grants may be awarded under specific schemes once certain criteria are met.