Free cash here!
The Federal Government has just launched a new Australia wide grant program aimed at progressing innovative or transformative projects across a range of targeted sectors. The Industry Growth Program – a $393 million program – will provide matched funding grants of up to $5million to startups and SMEs.
We know it’s been tough to get funding for projects lately, and this new grant initiative is welcome news as SMEs and startups struggle after the flowing rivers of investor cash of recent times has dried up.
Industry and Science Minister Ed Husic emphasised the program’s role in scaling up Australian businesses to create more secure job opportunities.
"The Industry Growth Program is designed to commercialise great ideas and know-how, build stronger, Australian businesses and put them on a pathway for potential support by the National Reconstruction Fund."
We hate to see good ideas held back – so when we see a great opportunity like this, we want everyone to know about it. Hopefully this program provides new opportunities for our clients (current or potential), friends or interested onlookers to access funding and get their projects off the ground or into the next phase of commercialisation.
Here is a quick snapshot
Provides: Matched grant funding from $50k to $250k for early-stage commercialisation projects, and from $100k to $5m for commercialisation and growth projects.
For: Innovative small to medium-sized enterprises taking on growth and/or commercialisation projects.
Within: NRF priority sectors including:
- Value-add in resources.
- Value-add in agriculture, forestry, and fisheries.
- Medical Science
- Renewables and low-emission technology
- Defence capability
- Enabling capabilities
Have an innovative project on the horizon?
Talk to our product development experts.