How much money is available this grant round?
The total funding pool is up to $7 million.
How much money can I apply for?
An applicant can apply for funding between $200,000 and $4 million.
Who is eligible to apply?
To be eligible for the Quantum Computing Commercialisation Fund, applicants must be:
- based and headquartered in NSW and be one of the following:
- a company incorporated under the Corporations Act 2001 (Cth) (including a company limited by guarantee) that has an Australian Business Number (ABN)
- an Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander) Act 2006 (Cth)
- an individual or partnership who agrees to form a company under the Corporations Act 2001 (Cth) so that Department of Enterprise, Investment and Trade (DEIT) can enter into a legally binding Deed of Agreement
- a NSW public research organisation applying through its appropriate technology transfer office or the Chief Executive Officer (or equivalent) of the research organisation that will become a separate entity before entering into a legally binding Deed of Agreement with DEIT.
Applicants must hold the Intellectual Property or the rights to commercialise the quantum computing hardware and/or software.
Joint applications between a business entity and research-based organisations (including universities) are encouraged. However, the business entity must lead the project and submit the grant application. The lead applicant (the business) must outline clearly in their application who the project partners are and how each partner will contribute to achieving the objectives of the project proposal.
Government agencies (Commonwealth, state or territory, including the Commonwealth Scientific and Industrial Research Organisation) are not eligible to receive funding. Government agencies can collaborate with the lead applicant on the project.
How does the funding work?
If you are successful, the funding amount will be provided to your organisation in a single payment, following the execution of a funding deed between you and Department of Enterprise, Investment and Trade (DEIT).
If the project achieves a specified level of economic success, you will be required to repay the grant to DEIT. The specific terms of repayment will be agreed to as part of the contract negotiations, based on financial information you provide to DEIT and an independent financial advisor.
Repayment is only triggered if the project reaches the specified level of economic success.
How much will I have to repay if I become successful?
If you are successful, you must repay the grant if your organisation achieves a specified level of economic success. The specific terms of this repayment such as the time and repayment schedule will be agreed to as part of the Deed of Agreement negotiations. You will not be required to repay the entire grant in one repayment unless that is preferred by the organisation after an acquisition (for example).
What Technology Readiness Level is the QCCF targeting?
The NSW Quantum Computing Commercialisation Fund targets quantum computing hardware and/or software within Technology Readiness Level (TRL) 3 – 7 to help them move along the TRL scale, commercialise their idea and enable them to attract large-scale private investment.
Technology readiness levels
Technology Readiness Levels (TRLs) are used to represent the development of an innovation. TRLs will help to define eligibility and support under the NSW Quantum Computing Commercialisation Fund.
It is expected that requests for support will reflect the different industries, levels of complexity or costs across the priority sectors, and indicative grant amounts are provided below.
If I am unsuccessful in this grant round, are there other programs I should apply for?
Yes. Please see the NSW Grant Funding Finder for a list of grants: https://www.nsw.gov.au/grants-and-funding
The Office of the NSW Chief Scientist & Engineer has a range of programs that you may be eligible for - https://www.chiefscientist.nsw.gov.au/funding/research-and-development
I need help in developing my idea. Where can I go for support?
There are many university accelerators, technology transfer offices and early-stage funds in NSW that may be available to you. Some of these include:
Who can I contact if I still have a question?
If you have questions regarding the QCCF, contact us through: www.investment.nsw.gov.au/contact-us/