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Early Stage Test
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| Records that the company was not listed on an official stock exchange in Australia or a foreign country. | Specific confirmation from the company |
| Record of the issue date of the shares | Information from the company (e.g. date on the share certificate). |
| The company’s and its 100% subsidiaries financial records previous financial year reports (show $1 million or less expenses and $200,000 or less in income) | Letter from the company tax agent, accountant or director confirming the applicable prior year(s) consolidated income and expenditure. |
| Independent records for ASIC Incorporation or registration on the ABR | Information from the company (i.e. date of incorporation or registration). |
| Proof that company was undertaking innovation activities solely on its own, or that the ownership structure did not defeat the purpose of ESIC concessions. The incentives may not apply to sophisticated structured ventures | Letter from tax agent, ASIC agent, company secretary, company director or lawyer. |
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Principals (Innovation) Based Test |
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| Pt1:The company was genuinely focussed on developing, a new or significantly improved product, service, process or marketing method for commercialisation? | If detailed business plans and documents were not provided or available the fall back could be any Company Financial modelling, Sales strategy, Pipeline, Sales records, Marketing material, Company communications, Falling and or Evolving R&D spend ratio, EMDG or other evidence that confirms the company was genuinely focused and was, at the time developing for commercialisation. Pitch docs are unlikely to be sufficient unless other evidence is available in the public domain. |
| Pt2:The company genuinely focussed on developing, a new or significantly improved product, service, process or marketing method for commercialisation? | Not applicable |
| The innovation has high growth potential | Evidence that the sales growth did occur, in dollars and or units those sales were (or are being generated) from a broad addressable market (outside of the local starting point of the business, intra-state or by export) |
| Demonstrated ability to scale | Records that show the company did expand into new regions in an attempt to scale up the business, via operating leverage (market share), cost per unit efficiencies, cost decreases on turnover (outside of the local starting point of the business, intra-state or by export). E.g. the company website showing dramatically expanded product offerings, facilities and employment. |
| Demonstrated access to wide markets | Records that show the company did expand into new states or internationally. May be evidenced by the company website showing multi locations. |
| Competitive advantage | Tertiary evidence of unique customer benefits, cost advantage, rarity, value to customer at the time of share issue. E.g. backdated independent product review or market report. |
no