Government Grant Funding up to $5 million for innovation /commercialisation

The Australian Government’s Industry Growth Program will support eligible, innovative startups and SME’s which are undertaking commercialisation and/or growth project within the National Reconstruction Fund (NRF) priority areas.

The program combines tailored advice from an Industry Growth Program Adviser and the potential to apply for grant funding of between $50,000 and $5 million, on a co-contribution basis.

Stage 1 of the program is now open for application, and is inviting start-ups and innovative SME’s to apply for expert advisory services to help them identify and overcome significant challenges that may be associated with their projects, and to help them fast track their innovative products, processes or services to market.

Eligible entities will:

• Have a combined annual turnover of less than $20 million for each of the past three financial years,

• Be either a company incorporated in Australia, a co-operative, or an incorproated trustee applying on behalf of a trust,

• Hold an ABN and be registered for GST, and

• Are non-income tax exempt.

Ineligible criteria also apply.

Applicants applying for Stage 1 will receive advice from a network of Industry Growth Program Advisers on:

• commercialisation and growth strategies

• funding avenues

• market testing

• business models

• building networks

Applicants for Stage 2 grant funding must have received teh advisory service prior to applying.

Stage 2, scheduled to be opened early in 2024, will focus on grant funding for innovative SME's who are operating in National Reconstruction Fund priority areas, which include:

• Resources

• Transport

• Medical Science

• Defence Capability

• Renewables and low emissions technologies

• Agriculture, forestry and fisheries

• Enabling capabilities

Applications are currently open to apply for Stage 1.

For more information on Industry Growth Program Stage 1 click here.

have you determined you are eligible to apply and need help with your application?

If yes, contact GrantSmart via email or through our Connect page.