Climate-Ready provides grants from $50,000 to $5 million on a matching funding basis to support projects that address the effects of climate change. The Climate-Ready grant is designed to increase Australia's sustainable economic growth by stimulating innovation in Australian small and medium sized businesses. The Climate Ready grant provides grants from $50,000 up to a limit of $5 million for projects of up to three years in duration. Companies can apply for funding to meet up-to-half of their eligible expenditure incurred in developing a new product, process or service involving any one or more of research and development, proof-of-concept, and early-stage commercialisation activities. Eligible applications will be assessed against the following five, equally weighted, criteria:

• applicant management capability
• project commercial potential
• project technical strength (including applicant technical capabilities)
• project national benefits
• impact of funding on project outcomes