Legislative Council Fifty-Third Parliament, Second Session (53-2) 53 2 Parliament of South Australia Legislative Council published Question Time Question Time South Australian Early Commercialisation Fund South Australian Early Commercialisation Fund The Hon. D.W. RIDGWAY Legislative Council Leader of the Opposition South Australian Early Commercialisation Fund The Hon. D.W. RIDGWAY (Leader of the Opposition) (14:26): I seek leave to make a brief explanation before having a discussion with the Minister for Manufacturing and Innovation on some questions around the South Australian commercialisation fund. Leave granted. The Hon. D.W. RIDGWAY Legislative Council The Hon. D.W. RIDGWAY: One of the core commitments at the last election was to establish the South Australian commercialisation fund. In estimates last year, the minister described the South Australian commercialisation fund as a two-part plan. Part A was the early commercialisation fund, and part B the venture capital fund. The minister went on to say that the early commercialisation program would be delivered in three stages. Those three stages are the ones I am most interested in today. You mentioned, minister, that phase 1 is a proof of concept grant of up to $50,000. Phase 2 is a product development phase, provided the company meets milestones under the proof of concept phase, of up to a further $150,000. If milestones are met from phase 2, then phase 3 will involve early commercialisation of up to an additional $300,000 for the company. My question to the minister is: how many businesses have been successful in getting phase 1, phase 2 and phase 3 funding?