The first budget of the Rudd Government saw the Commercial Ready programme get nuked. Comments in the media were mixed – See The Age and the ABC.
This decision makes no sense. The Commercial Ready programme was extremely effective in taking early stage technology and commercialising it. The programme forced companies applying for the grants to provide like-for-like funding from the investment community (an important validation of a technologies commercial potential). It also forced companies to go through a rigorous application process which helped executives define and describe their target markets, how they would commercialise the technology and how they would go to market. An extremely valuable process.Continue Reading