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Excited by the $1.3 Billion available but not quite sure how to get the funds?
"Relax! We'll Guide You Through The Application Process And Help You Get The Grant"
Dear Friend,
It's hard to imagine what has happened to the automotive industry in the last 12 months... and it's all bad news.
Chrysler and GM are on the verge of bankruptcy, with plants closing down and workers being laid-off.
However, the Good News is that the Green Car Innovation Fund has just officially opened (April 24th, 2009) and will provide $1.3 billion in grants to the Australian automobile industry.
This is real cash for R&D and commercialisation activities.
Interested? These are the Next Steps...
To find out about how we can help you obtain the Green Car Innovation Fund please Contact Us
for a free and confidential discussion.
To Your Green Car Success,
Ross Turetsky MBA, BCom, BIS
Managing Director, Grant Solutions
The Green Car Innovation Fund will provide $1.3 billion over ten years from 2009. It is a competitive and merit-based grants program. The Fund will generally contribute one dollar for every three dollars contributed by grantees, but there will be scope to vary this depending on risk profiles and the contribution to the sustainable and international competitiveness of the Australian automobile industry.
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 help the Australian automobile industry to deliver the improved environmental performance required by the Automobile Transformation Scheme which also forms part of A New Car Plan for a Green Future.
TARGET AUDIENCE
The Fund will be open to all Australian companies, and to individuals who warrant to form a company if offered assistance and prior to signing a funding agreement. Applications from consortia or groups to undertake collaborative projects involving businesses, research organisations, industry associations or individual researchers will also be considered provided that an eligible lead entity representing the consortia or group is willing and able to commit to the legal and financial obligations arising from a funding agreement.
The Fund can be accessed through two streams:
- Stream A will be open only to Motor Vehicle Producers registered under the Automobile Competitiveness and Investment Scheme or the Automobile Transformation Scheme
- Stream B will be open to all Australian companies or individuals other than the Motor Vehicle Producers eligible under Stream A
To be eligible to apply for a grant under Stream A:
- An applicant must be a Motor Vehicle Producer (MVP) registered under the Australian Government's Automobile Competitiveness and Investment Scheme or the Automobile 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
- The cumulative total of grants allocated to the applicant under Stream A must not exceed $300 million
To be eligible to apply for a grant under Stream B:
- 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, or an entity related to a Motor Vehicle Producer, registered under the Australian Government's Automobile Competitiveness and Investment Stream or the Automobile 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
ACTIVITIES SUPPORTED
The Fund will provide support for research and development (R&D), proof-of-concept, early-stage commercialisation and pre-production development activities that are carried out in Australia.
To be eligible for assistance under the Fund, activities must be undertaken in Australia and directly relate to the creation, acquisition, application or commercialisation of knowledge, technology, processes, materials or products which:
- Are new or additional to the grantee; and
- Significantly improve the fuel-efficiency or greenhouse gas (ie carbon dioxide equivalent) emissions of passenger motor vehicles.
It is proposed that applicants would be able to apply for a grant for one or perhaps a combination of the above activities. For instance, an applicant that has acquired intellectual property (IP) with high commercial potential could apply for a grant to undertake the proof-of-concept activity related to the IP.
Similarly, an applicant could apply for a grant to undertake R&D, proof-of-concept and
early-stage commercialisation activities necessary to develop the product to the point where it could be ready for the market.
It is proposed that technology diffusion and collaboration activities associated with the above activities would be treated as eligible expenditure under the Fund.
MERIT CRITERIA
The assessment of applications will take account of the innovative, technological, commercial and environmental merits of the application. The applications for the Fund will be assessed against 5equally weighted merit criteria.
- The extent of the reduction in passenger motor vehicle fuel consumption and/or greenhouse gas (ie 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 of the proposed project to a sustainable and internationally competitive Australian automotive industry and the benefits to the broader Australian economy
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