Qualifying as an Early Stage Innovation Company – Gateway Test
Business Advisory Services Updates
There is an expectation that many businesses will have spent some of the lockdown time caused by COVID-19 to undertake research and development activities and some of those businesses will be giving consideration as to whether they can raise funding to finance the commercialisation of their research and development.
Some young companies will pass the initial test that we summarised in yesterday’s post and they are then required to pass either the Gateway Test or the Principles Test.
The Gateway Test requires 100 points to be earned by the company in response to a series of questions:
- Research and Development over 15% of the company’s expenditure?
- Admission to Accelerating Commercialisation Grant Program?
- Admission to Accelerator Program?
- $50,000 plus equity received from arm’s-length investors?
- Patent Registration?
- Plant Breeder’s Right Registration?
- Innovation Patent?
- Registered Design?
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