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October 2024

Hi Innovator,

Welcome to INNOVIC’s October 2024 i-Newsletter. 

This month we discuss how to get started with a new idea, design registration, the landing pads program, why grant writers don’t usually work on a fee for service basis, and the latest grants and much more.

We hope you enjoy it.

The INNOVIC Team

www.innovic.com.au
info@innovic.com.au

Contents:

FEATURED

Got a new business idea?
Some tips to get you started

Research indicates that the major hurdles for innovators trying to get a new product or service to market are lack of relevant business skills, limited funds, and unsure how to get started.

Most innovators will need the help of experts at some point in the commercialisation process e.g. patent attorney, product developer, investors.  But you can save significant time and money by getting assistance in the early stages from an independent, not for profit organisation such as INNOVIC.  We can evaluate your idea and work with you on your commercialisation strategy.

You can also do several things yourself to help work out how your business will operate. 

  • Conduct research to identify any competitors – both direct and indirect.  Look at their websites, newsletters, or relevant industry information to learn about yearly sales, price structures, product features, how they market to their customers and where and how they sell.
  • Conduct an IP search of relevant databases, as appropriate.  Search for patents, trademarks or designs that may be similar or the same as your proposed concept as this could affect your ability to file.
  • Identify your potential customers; consider how you will reach them; why and where they will buy your product or service, the price they are likely to pay and the market niche. 
  • Consider your commercialisation strategy - how will you make money from your new idea and how will it be distributed? 
  • Do financial projections – The financials will be critical, and you need to be confident that your projected  income and expenditure is realistic.
  • Develop a business plan – use free templates such as business model canvas to plan how the business will operate.

Need help?  INNOVIC is a trusted commercialisation specialist and has been working with start-ups and SMEs for over 30 years.  We can help you right through the commercialisation process, from idea to market. 

Book a consultation on our website, email: info@innovic.com.au or call us on 03 8060 3504

www.innovic.com.au


How to raise capital for your start-up 


Could you be a digital nomad? 
A digital nomad is a person who has a permanent online job or is a self-employed freelancer for various clients.  A digital nomad can work remotely, anywhere in the world, via a Wi-Fi. 
So, which are the best countries for digital nomads?  


You’re sitting on your IP – don’t you need a design registration?

As you’re getting ready to launch a product, if you’ve spent any amount of time thinking about the way it looks, then it’s worth considering filing for a registered design application to protect it.

Design registrations are a valuable additional IP right that many people don’t realise is open to them, and can help present an attractive business prospect to potential investors, and act as a deterrent to competitors, and help protect your products from cheap online imitations. They can protect the visual appearance of your product for up to 10 years and are considerably cheaper to file than patent applications.

While patents protect the function of a device, a design registration protects the look of it: the ‘shape and configuration’. The chair you’re sitting in reading this is likely too common-place to be patented – its functions are all well understood and common-knowledge – but it would be the perfect candidate for a design registration.

What other potential design rights are you sitting on in your business? Have a think about it and contact us at mdp Patent and Trade Mark Attorneys if you want to talk about how to get the most IP protection for your new product or business activities.
www.mdppatents.com.au

mdp Patent and Trade Mark Attorneys 


AgTech Investor Connect, a free reverse pitch event on 10 October 2024 where investors will pitch to early-stage AgTech start-ups.  


Why don’t grant writers work on a success fee basis?

Writing a grant application for a third party involves a significant amount of work and can take days or even weeks to complete. 

Most grants are competitive, and attract numerous high quality applications, particularly for larger grants.  There is no guarantee that an application will be successful, regardless of the work that has gone into the preparation. Hence most grant writers DON’T usually work on a success fee.  They charge an upfront fee for their work to ensure they will get paid.

But wait - there are exceptions.  There are some grants that are eligibility-based, such the R&D Tax incentive and the Export Market Development Grant.  With these grants, the grant writer will know in advance whether an applicant meets the criteria and is likely to get funded.  Based on this knowledge, a grant writer may agree to work on a success-fee arrangement


What is copyright and what does it cover?


Has your email been compromised?


So, what is the Landing Pads program?

The Landing Pads program is designed to help Australian investment-ready tech start-ups to expand globally and find international investors.  The program enables Australian start-ups to use co-working spaces in specific overseas locations and facilitates networking, connections, pitches, partnerships and more.

The NSW government has a new initiative to help start-ups to break into the Vietnamese, Indonesian and Malaysian markets via coworking sites in these countries. In return, selected Asian tech companies looking to launch in NSW will get desk space at the Sydney Startup Hub. 

Find out more about the Go Global Toolkit, Dealroom, landing pad markets and pitch events.


Fee changes at IP Australia

From 1 October 2024, fees are changing for IP rights in Australia. Here are some of the key changes that might impact your business:

  • It’s now cheaper to file design applications and provisional patent applications.
  • Standard patent applications are now more expensive across the board, and a new fee has been added for claims in excess of 20, which is payable at the issuance of the first examination report. Renewal fees for your patent rights are also more expensive.
  • The biggest fee increases relate to patent oppositions, hearings, and ownership disputes. The cost of these procedures doubling from $600 to $1200 in many cases.
  • New fees are introduced for trade mark opposition proceedings, and existing fees for applying for removal of trade marks for non-use and fees for trade mark hearings are also going up. Although the fee for in-person oral hearings for trade marks are going down and the previous fee for requesting a trade mark hearing itself has been cancelled.

A complete list of the changes can be found here.

If you’d like to talk about what this might mean for you and your business, contact mdp Patent and Trade Mark Attorneys for a confidential discussion. 

www.mdppatents.com.au


How to prepare your business for an emergency


What do you do if someone is using your IP without your permission?


NEWS

Press Play Ventures - a 12-week pre-accelerator program for aspiring female founders and women-led business teams based in Victoria. Closes 15 October 2024. 

LaunchVic’s 30X30 - free executive education program for scale-ups.  EOI by 21 October 2024. 

The Farmers2Founders GROW program - a 12 week GROW pre-accelerator program for Victorian agtech start-ups. EOI now open. 

Circular Tech Incubator Program - applications open for circular-focused start-up ideas.  Closes 27 October 2024. 

CivVic Labs challenge  - a 6 week bootcamp for agtech entrepreneurs with farming technology plus $15K equity funding with a chance for a further $35K to bring the solution to life. Event launch 24 October 2024. 

iLAuNCH Accelerator Fast Track Program - $100K for game-changing ideas, proposals, and activities with a space technology that have commercial potential.  Closes 30 November 2024. 

HANDY TIPS – FREE STUFF

GRANTS & AWARDS

ARENA Solar Sunshot Program
   • 1A: Solar PV Manufacturing Innovation.  $500m in funding for modules, inputs to modules (e.g. solar glass and frames) as well as deployment systems (e.g. innovative solar racking).
   • 1B: Solar PV Manufacturing Studies. $50m in funding for feasibility studies and FEED.  EOI 10 December 2024. 

Ag Tech Grants Program - to $50K to support early-stage AgTech start-ups by providing small amounts of working capital to build capability and move to the next stage of growth. Closes 30 June 2025 or until funds have been allocated. 

 

Ongoing Grants

Accelerating Trade Grant Program - to $10K for Tasmanian-based businesses to support activities that will lead to new trade opportunities.  

Advancing Renewables Program - $100K to $50m for businesses to undertake renewable energy projects. 

ARENA - funding for renewable energy projects to bridge the gap between bright ideas and commercialisation. 

Awesome Foundation - $1K grants every month to support awesome ideas.

Biomedical Translation Fund (BTF) - support for early stage companies that are, or will be, developing and commercialising biomedical discoveries.  

The Catalyst Fund - $2.5K to $15K for early-stage, innovative and unconventional ideas that address urgent challenges. 

Community Grants - for NFP organisations working for the relief of poverty, sickness, distress, the advancement of education and other purposes of benefit to the community. 

CSIRO – Kick-Start Vouchers for start-ups and SMEs. To $50K (matched funding) for various activities to be conducted by CSIRO e.g. product development, research, testing.   

CSIRO: ON Accelerate is a 3 month free commercialisation acceleration program for entrepreneurial researchers who are ready to translate their great idea into a research-driven company. Provides up to $180K per team based on performance and to fast-track their market traction during and post-program.  Program commences November 2024.  

Defence Industry Growth Grant - $5K to $1m for eligible business for:
   • acquisition and commissioning of new capabilities for defence domestic
   • export projects or achievement of international accreditations and certifications
   • technical and trade skill development
   • implementation and maintenance of security posture required for suppliers in the defence sector.

Defence Global Competitive Grant - $15K to $150K for projects that build defence export capability. 

Defence Industry & Innovation Programs:
   • Defence Innovation Portal for ideas that comply with the priority innovation needs.
   • Next Generation Technologies Fund for R&D projects in future technologies.

The ETREA Foundation - $2K to $10K for organisations supporting and teaching those in need the tools and skills to rebuild their lives and achieve personal fulfilment.  

Everyday Legal Grants - $5K for projects that support community needs and improve understanding of the justice system. 

Games Release Fund - to $30K to support small Victorian games studios with business development, marketing etc.  

Global Innovation Fund - $50K to $15m for the development, rigorous testing, and scaling of innovations that improve the lives of the world’s poorest people. 

Google Ad Grants for NFP with charity status - to US$10K per month in kind for google ads. 

Industry Growth program - for innovative SMEs with commercialisation and/or growth projects in one or more of the National Reconstruction Fund priority areas. You will initially be connected to an Industry Growth Program Adviser who will provide tailored advice to support your commercialisation and/or growth project. You may then be able to apply for:
   • $50K to $250K to support early-stage commercialisation projects
   • $100K to $5 million for commercialisation and growth projects.

Impact Investing Ready Growth Grant – to $140K for capacity building from mission-driven organisations.  

The IMCRC (Innovative Manufacturing Cooperative Research Centre) provides access to R&D expertise for manufacturing companies and matched funding to $3m per company for multi-year research undertaken by universities and/or CSIRO. 

Investment Fast Track Fund - to $500K for regional and rural products to become investment ready. 

NSW Minimum Viability Product Ventures Program - to $200K to support NSW businesses from to proof of concept to MVP.

National Reconstruction fund - debt finance, equity finance or guarantees for finance for projects that diversify and transform Australia's industry and economy.  Seven priority areas - renewables and low emissions technologies; medical science; transport; value-add in agriculture, forestry and fisheries; value-add in resources; defence capabilities and enabling capabilities. 

New Enterprise Incentive Scheme (NEIS) - up to 39 weeks income support, business training and mentoring for eligible job seekers with new business ideas. 

Pearcey State Entrepreneur Awards – recognising innovative talent in the ICT profession. Awarded to an individual who has "taken a risk, made a difference and is an inspiration" within the ICT industry within each Australian State. 

Research & Innovation Fund (SA) - supports researchers, entrepreneurs and businesses to accelerate their progress with funding from the South Australian Government.
  • Seed - $50K to $100K
  • Start -  $101K to $500K

Seed Start up Grants (SA) - $50K to $500K for early-stage start-ups with matched funding to help commercialise an innovative product or service. 

Solutions to Solar PV Waste Grants - to $10m for submissions from the broader scientific and innovation community that can help foster and commercialise as a scalable solution to the problem of solar PV waste. 

Small Business Export Loan - $20K to $350K unsecured loans to help finance a single export contract when your bank is unable to help.  On-line application.

Sovereign Industry Capabilities Priority Grant (SICP) - $70K to $1.4m to help SMEs invest in projects that build capabilities aligned with Defence's stated Sovereign Industrial Capability Priorities. 

Start-up Qatar Investment program - $500K for start-ups seeking to set up in Qatar and up to $5m for established start- ups to expand operations into Qatar. See priority areas. 

Universal Charitable Fund (UCF) - $2K grants for NFPs with DGR status who are helping people in need in the community or overseas. 

Victorian Business Growth Fund - for businesses with long term growth and high job creation potential with an annual revenue of over $5m.  The investment will be equity or a debt stake. EOIs now open. 

Victorian Production Fund (VPF) Games - $300K to $500K for Victorian digital games development companies and creators to develop and release a variety of digital games. Grants can be for Pre-Production, Production and Post-Production phases of game development.

ONLINE and other EVENTS

3 – 13 October 2024
Melbourne International Games Week

28 - 31 October 2024
Tech Week
SEEK, 60 Cremorne Street, Cremorne

30 October – 1 November 2024
AusBiotech 2024
Melbourne Convention & Exhibition Centre

13 October 2024  FREE
Synchrotron Open Day
Australian Synchrotron – ANSTO, 800 Blackburn Road, Clayton VIC

1 – 3 November 2024
The Indigenous Australian Datathon (IAD)
Ideas Lab, James Cook University, Nguma-bada Campus, Cairns

11 – 13 November 2024
National Tech Summit
The Timber Yard, Port Melbourne

OUR SPONSORS

Ideation Design

We are a multi award winning product design consultancy based in Melbourne, Australia with over 30 years experience developing new products and ideas.

We provide a complete product development service from concept generation, 3D CAD & prototyping, through to production documentation and specification across a wide range of industries including consumer & health, medical & scientific, baby & nursery, sport and leisure and industrial.


MDP Patents

We are a team of specialist patent and trade mark attorneys in the heart of Melbourne’s CBD, with comprehensive expertise in intellectual property (IP) matters.

We deliver boutique IP advice, tailored for your exact needs. From the inception of an idea to the completion of the final product, we share the journey with you, ensuring your ideas are safeguarded, and your IP needs met at every stage.

For a confidential discussion about how we can assist you, please get in touch.


INNOVIC’s Entrepreneurs’ Toolkit

a FREE downloadable resource

The toolkit contains information on idea evaluation, funding options, business structures, key federal grants, protecting your digital ideas, growing your business, legal documents, disputes - and how to resolve them.

Plus useful resources, links, and tips from the contributors: AB Phillips, INNOVIC, IP Australia, Rankin Business Lawyers, and the Victorian Small Business Commissioner.

Download here


Start me up: Protect and profit from your new ideas - Free e-booklet

This free eBooklet from INNOVIC, Matrix Thinking and Griffith Hack includes:

  • How to find new business ideas and opportunities (even in a crisis)
  • Understanding intellectual property; the different types of IP, duration and disputes
  • Legal documents and how to use them
  • What to include in a pitch deck and business plan
  • How to profit from your ideas
  • Useful resources 

Download it here