AusIndustry Commercial Ready Grant
The Commercial Ready program is AusIndustry’s flagship innovation grants program, providing $200 million a year to small and medium enterprises. Following a highly competitive evaluation process, QuintessenceLabs was awarded a grant under this scheme in 2008.
The program aims to encourage the growth and successful innovation of Australian companies by increasing the level of R&D, proof-of-concept and early-stage commercialization by Australian businesses in an effort to increase the international competitiveness of Australian businesses, foster greater collaboration between industry and research institutions and generate national benefit for the Australian economy.
In addition to the grant from AusIndustry, investments from a consortium of private investors completed QuintessenceLabs’ seed funding round.