$1.6 billion Economic Accelerator (AEA) has been announced

An Overview

The program features as part of a $2.2 billion package to focus on the nation’s six manufacturing priority areas- resources and critical minerals, food and beverage, medical products, recycling, and clean energy, defence, and space. The intention being to create commercial opportunities for early-stage research which is often not progressed due to higher levels of risk and uncertainty.

What we know

$150 million has been committed to the expansion of the CSIRO’s Main Sequence Ventures, with the goal of supporting start-up companies and creating commercial opportunities for Australian researchers. The process will begin with a diverse range of contenders, progression through rounds will see the number of applicants diminish and funding increase.

The following structure was given as an example:

• Stage 1 will involve nearly 100 grants a year of up to $500,000. Recipients will be required to engage industry through in-kind support or even co-location.
• Stage 2 will involve 36 recipients attracting up to $5 million in funding. At this stage industry will need to put more skin in the game with a 50 per cent co-investment.
• At stage three, up to 50 companies will be supported through the Main Sequence Venture, where we are providing $150 million in two successive co-investment funds.

$296 million will also be invested in industry focused PhD’s and fellowships, generating 1,800 industry PhD’s and over 800 industry fellows.

Please find the full media release here.

More information is expected shortly, Mazars will provide updates through our usual channels soon after announcement. If you have any questions in the meantime, contact your usual Mazars advisor or alternatively, our financial advisory specialist, Angela Winton via the form below or on:

Author: Alex Harris

Published: 08/02/2022

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