As a Business Owner in Australia, You May Qualify for a Grant, Governmental Assistance or Awards Program, Offsetting at Least Some of Your Costs    

As a business owner in Australia, you may be surprised to learn there are numerous government and private industry grants and awards programs available to you that you may qualify for, enabling you to receive some financial assistance for a variety of uses.  

Each will have to be applied for separately, so you will want to read carefully to see if you and your business qualify. You can use the link provided to learn more about the application process and what you need to do to progress with the process.    

Adair Innovation: http://www.ausinnovation.org   

Supported by government and private industry partnerships, Adair encourages the development of Australian innovation, and is responsible for organizing the annual Australian Innovation Festival as well as the national seminar series, The Leaders of Innovation, which serves to increase public awareness of the need for ongoing innovation and provides events for entrepreneurs and startup businesses.  

This annual festival has been increasing public understanding of the importance of innovation since 2002 by offering a multitude of events for SMEs, entrepreneurs, and startups.    

AusIndustry: http://www.ausindustry.gov.au   

This Australian government agency supports industry research and advancement and offers small business owners products, services and resources, as well as grants that include:  

• The Commercial Ready Program, which offers financial assistance ranging from $50,000 to $5 million, but it is only provided on condition that SMEs match the assistance dollar-for-dollar.  

• The Commercializing Emerging Technologies (COMET) program, with the level of funding determined each year by the Federal Government, which also requires that applicants become incorporated under the Corporations Act 2001 before applying.    

• The Industry Cooperative Innovation Program, which works to encourage businesses to work together for maximum benefits on innovative projects, and provides grants from 150,000 to $3 million.    

• The Innovation Investment Fund, which provides venture capital funds to SMEs. A licensed fund is required to invest in eligible small businesses.   

 • The Renewable Energy Development Initiative, which works to assists Australian businesses to develop renewable energy projects.  

• The R&D Tax Concession, which provides tax deductions to assist financially in the development of innovative products and services. The tax deduction goes up to 125% of eligible expenditure.  

• The R&D Tax Offset, which works to supports innovative small businesses that can’t instantly benefit from the R&D Tax Concession.    

Australian Apprenticeships: http://www.australianapprenticeships.gov.au   

Australian Apprenticeships offers new apprentices and their employers special incentives such as the Innovation Incentive, which provides a commencement payment of $1,210 for business owners who employ an apprentice (at a Certificate Level III or IV) in a defined innovation-training package. Australian Apprenticeships is program of the Department of Education, Science and Training    

Australian Institute for Commercialization: http://www.ausicom.com.au   

Assisting entrepreneurs in developing their ideas into successful commercial businesses, the Australian Institute for Commercialization hosts Ideas2Market, a series of workshops (which currently only run in Queensland and Tasmania) supported by the Queensland Department of State Development and Trade. Participants of the workshop receive advice that can be used to better develop their ideas into successful ventures.    

Department of Agriculture, Fisheries and Forestry: http://www.daff.gov.au   

This federal government department offers various programs to develop groundbreaking flourishing industries, including:    

• Pilot Commercialization Grants, which provides funding to commercialize pioneering agriculture products and services. Funding is only granted on a matched dollar for dollar basis with the applicant, and applicants must have completed the initial market research and assessment.  

• The Natural Resource Innovation Grants are a one-off grant and aim to encourage SMEs in the agriculture industry to develop innovative and sustainable production. Startup businesses are not eligible to apply for this grant.  

• The Science and Innovation Awards for Young People in Agriculture, Fisheries and Forestry are open to applicants between the ages of 18 to 35. Applicants who demonstrate a use of innovative technology to further the development of the agriculture industry could receive up to $10,000 to further their business venture.    

INNOVIC: http://www.innovic.com.au   

This not-for-profit organization provides several practical services to assist innovative SMEs in the early stages of establishing a commercial business. Among the services offered is the Next Big Thing Award—an annual competition to promote innovative Australian products, which could potentially become ‘the next big thing’. As a significant event during the Australian Innovation Festival, the awards receive substantial media coverage. Winners will also receive a share in cash and prizes valued at $30,000.    

National Innovation Website: http://www.innovation.gov.au   

The National Innovation website raises awareness of the importance of innovation and entrepreneurship and provides information for owners of small to medium businesses that can be used to help carry their best ideas to the marketplace.    

The website also provides detailed information for young entrepreneurs about innovation assistance through initiatives such as the National Innovation Awareness Strategy Business Plan Competition, encouraging these entrepreneurs to develop business plans.   Teams of two to five, with at least one student, are required to develop a plan for a concept that has not had previous funding. The teams will be eligible to participate in a series of workshops and will have the opportunity to win cash prizes.    

Nestle Company: http://www.nescafebigbreak.com.au   

To encourage innovative business development, Nestle presents the Nescafe Big Break competition, which offers young entrepreneurs between the ages of 16 to 24 the chance to win up to $100,000 to develop their innovative business ideas. Entrants can enter as an individual or as a group, however all group members must meet the age requirement and they must be permanent residents of Australia or New Zealand. ‘Mini’ Big Breaks of $1,000 are also on offer.    

Northern Territory Research and Innovation Board and Fund: http://www.nt.gov.au/business   

The Northern Territory Government created the Research and Innovation Board and Fund to support the development of inventive ideas, products, and services in the Territory. Among the grants offered is the Research and Innovation Grant, which aims to create a partnership with SMEs who conduct innovative research. All ideas which display a benefit to the Territory will be considered, though preference will be given to local applicants. There is currently no maximum funding level per applicant.    

NSW Small Business: http://www.smallbiz.nsw.gov.au   

Found within the Department of State and Regional Development, NSW Small Business is the government information site for small businesses. Among the competitions offered to support small business innovation is the Young Bizstar Pitching Competition. Open to entrepreneurs between the ages 18 to 35, who either have an innovative business idea or are starting up a new business, the competition consists of three categories, each offering a business support package valued at around $6,000.    

Queensland Department of State Development: http://www.sd.qld.gov.au   

This department handles the Queensland Government’s economic development and negotiates innovation at other levels within the state government. The department develops economic growth through the following programs:    

• The Innovation Startup Scheme promotes innovation in Queensland and relieves the financial pressure during the early stages of commercialisation. Queensland-based SMEs are eligible for grants between $50,000 and $80,000, however funding must be matched on an 80:20 basis (government 80 percent, applicant 20 percent).    

• The Smart Awards recognise innovative Queensland businesses and their products, processes, and services. Successful applicants in each category receive a cash prize of $10,000.  

• The Queensland Industry Development Scheme aims to assist businesses to innovate and develop. Assistance is provided on a dollar for dollar basis, with a minimum of $5,000 per project, and a maximum of $50,000.    

Small Business Development Corporation: http://www.sbdc.com.au    As an agency under the Western Australia State Government umbrella, the SBDC concentrates its efforts on the development of the small business sector and offers support programs to innovative SMEs in Western Australia, including the Innovation to Market (ITM) program, designed to assist small businesses when commercialising innovative ideas. The ITM program supports SMEs while planning their commercialisation approach and assesses challenges.    

Tasmanian Department of Economic Development: http://www.development.tas.gov.au   

This department is the main source of information for developing businesses in Tasmania. The department grants innovative Tasmanian businesses the following assistance:  

• Early Stage Commercialization Assistance. Applicants who are in the early stages of commercialization can receive up to $20,000 on a two-for-one dollar basis. The fund is only for use towards direct costs incurred while commercializing the innovative product or service.  

• Mentoring Assistance aims to further develop innovation, commercialization, and business skills. A grant of up to $20,000 is available on a three-for-one dollar basis.  

•Commercialization Assistance is available to applicants who are in the process of commercializing their innovative product or service. Applicants may be eligible for up to $150,000 on a two-for-one dollar basis.  

• The Market Ready Commercialization Program (Market Ready) provides the skills necessary for SMEs to commercialize their innovative idea and put it on the market. Successful applicants will receive the opportunity to attend a series of workshops over a period of 10 days, worth around $5,000.    

Telstra Corporation: http://www.telstra.com   

Telstra awards programs, which have been developed as a catalyst to spark business advancement, include:  

• The Telstra Business Awards Program through which business owners are categorized based on the number of people they employee. There are five categories in all and finalists from each of the five categories eligible for the AMP Innovation Award, with winners of this award receiving financial assistance and media attention.  

• The Telstra Business Women’s Awards have been acknowledging the contributions of Australia’s female business leaders since 1995. Entrants are placed in one of four categories, including a category for young businesswomen. Entrants who answer the innovation questions on the entry form will also be considered for the Australian Government Business Innovation Award. The winner in each state and territory will receive $5,000, and the Telstra Australian Business Women of the Year receives a further $10,000.    

WA Department of Industry and Resources: http://www.doir.wa.gov.au 

Working to improve Western Australia’s economic growth, the WA Department of Industry and Resources provides financial assistance and additional resources to the winner of Inventor of the Year
program.  

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