COMMERCIALISATION AUSTRALIA CEO ANNOUNCED

The Australian Government has announced the appointment of Mr Doron Ben Meir as the inaugural Chief Executive Officer of Commercialisation Australia (CA).

Over the past 20 years, Mr Ben Meir has been involved in numerous venture capital organisations, and has been a founder or co-founder of six start-up companies, as well as an investor, investment manager, and advisor to several other companies. Mr Ben Meir is the founder and CEO of Prescient Venture Capital.

CA, an Australian Government initiative, opened for business in late 2009 to help researchers, entrepreneurs and innovative firms commercialise their ideas. It offers grants on a co-contribution basis, including:

  • up to $50,000 to pay for specialist advice and services;
  • up to $200,000 over two years to engage experienced executives;
  • proof-of-concept grants up to $250,000 to test the commercial viability of a new product, process or service; and
  • early stage commercialisation repayable grants up to $2 million to develop a new product, process or service to the stage where it can be taken to market.

Several ACT companies have already expressed interest in CA support and two have been awarded grants in the first round, announced by the Prime Minister on the 16th April 2010. Full media release External Link

For more information, visit commercialisationaustralia.gov.au External Link

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