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The objective of the Fund is to enhance research and development and the commercialisation of Australian technologies that significantly reduce fuel consumption or greenhouse gas emissions of passenger motor vehicles. The Fund will provide $1.3 billion over ten years. It is a competitive, merit-based, grants program and will generally give one dollar for every three dollars contributed by grantee, but there is scope to vary this depending on risk profiles and the contribution to the sustainable and international competitiveness of the Australian automotive industry. Applications opened April 2009.
Benefit
Stream A Grants
- An applicant must be a Motor Vehicle Producer (MVP) registered under the Australian Government's Automotive Competitiveness and Investment Scheme or the Automotive Transformation Scheme.
- An applicant must demonstrate that it can fund the costs of the proposed project which are additional to the grant sought by the applicant.
- An applicant must demonstrate that it has access to, or the beneficial use of, any intellectual property necessary to carry out and commercialise the project.
- An application must be for a grant of $10 million or more; and
- The cumulative total of grants allocated to the applicant under Stream A must not exceed $300 million.
Stream B Grants
- An applicant must be a non-tax exempt company incorporated under the Corporations Act 2001, or an individual who warrants in the application to form such a company if offered assistance and prior to signing a funding agreement.
- An applicant must not be a Motor Vehicle Producer (MVP), or an entity related to an MVP, registered under the Australian Government's Automotive Competitiveness and Investment Stream or Automotive Transformation Scheme.
- An applicant must demonstrate that it can fund the costs of the proposed project which are additional to the grant sought by the applicant.
- An applicant must demonstrate that it has access to, or the beneficial use of, any intellectual property necessary to carry out and commercialise the project.
- An application must be for a grant of $100,000 or more.
Eligible Activities
- Research & Development
- Proof-of-Concept
- Early-Stage Commercialisation
- Pre-Production Development Activity
All activities must be undertaken in Australia and directly relate to the creation, acquisition, application or commercialization of knowledge, technology, processes, materials or products which are new or additional to the applicant; and which significantly improve the fuel-efficiency or greenhouse gas emissions of passenger motor vehicles.
Merit Criteria
- The extent of the reduction in passenger motor vehicle fuel consumption and/or greenhouse gas (i.e. carbon dioxide equivalent) emissions arising from the proposed project.
- The technical merit and extent and calibre of innovation generated in Australia by the proposed project.
- The capacity and capability of the applicant to undertake the project including management capability.
- The commercialisation potential of the proposed project to the benefit of Australia.
- The contribution to a sustainable and internationally competitive Australian automotive industry and the benefits to the broader Australian economy.
Supporting Information
- Environmental benefits demonstrated by forecasting significant improvements in fuel efficiency and reductions of emissions.
- Economic benefits demonstrated by increased competitiveness and sustainability of the automotive sector, supply chain and employment.
- R&D, IP management, commercialisation and financial plans pertaining to the project, including: detailed costs; cash flow; timelines and milestones; sources and amounts of project investment to be provided by the applicant and other parties; the approval status of the project within the applicant's firm or project group; how, where and when the innovation will be commercialised in the context of the project; the return on investment; a project risk assessment (including technological risks and, any related dependencies and assumptions).
- The amount of Fund assistance sought; the reason that assistance is required; evidence that assistance if provided will result in new or additional activity; a proposed grant milestone payment schedule; and the implications for the project if the assistance is not forthcoming.
Eligible expenditure
Must be directly related to eligible project activities ie. R&D, proof of concept, early-stage commercialization, preproduction development.
- Salaries
- Contractors
- Plant and equipment
- Tooling
- Prototype
- IP protection
- Collaboration
- Acquisition (for adaptation in the project) of new leading-edge technologies.
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