Please note that this information is current as at March 2019…

The information in this update of current, SME applicable support programs has been provided to us by Scott Dixon & Associates.

In support of Commercialisation:

Accelerating Commercialisation Grant (Federal)

Provides businesses with access to expert advice and matched funding of up to $1 million to cover eligible commercialisation costs to help them to take novel products, processes and services to market.

Matched funding up to $1M
Eligible businesses must have a turnover of less than $20M
The grant is currently open and applications may be made at any time
Further information is available at the business.gov.au website
You can register for updates on the program here

Business Development Fund (Queensland)

Provides co-investment in Queensland businesses at the forefront of commercialising ground-breaking research or innovations. Through early stage co-investment funding, the Business Development Fund promotes angel and venture capital investment which helps to facilitate the development of a sustainable private market for venture capital finance in Queensland.

Matched funding up to $2.5M
The independent Business Development Fund investment panel assess fund applications
The fund is currently open and applications may be made at any time
Further informatiion is available at the Advance Queensland website

Ignite Ideas Fund (Queensland)

Supports startups and small to medium Queensland businesses to commercialise innovative products, processes and services to enable them grow and compete in a global market and create new jobs.

Matched funding up to $200K
Eligible businesses must have less than 200 full-time equivalent staff
Round 6 expected release is 2 September 2019
Further information is available at the Advance Queensland website

In support of Export Marketing:

Export Market Development Fund (Federal)

Provides exporters who are aiming to increase their international sales with reimbursements of up to 50% of promotional expenses.

Promotional expenses must be over $15,000 to a maximum of $150,000
Eligible businesses must have annual income of less than $50M
Applications open on 1 July each year and are required to be lodged by 30 November
Further information is available at the business.gov.au website

In support of Innovation:

R&D Tax Incentive (Federal)

Provides a tax offset for some of a company’s cost of doing eligible research and development (R&D) activities by reducing a company’s income tax liability.

Tax offsets of 43.5% or 38.5% are available for costs incurred on eligible activities depending on a company’s annual aggregated turnover
Minimum spend must be at least $20K
Applications can be made at any time and must be within 10 months of the end of the income year
Further information is available at the business.gov.au website

In support of Business Growth:

The Business Growth Fund Program is a Queensland grant program which provides targeted assistance for small and medium businesses that demonstrate high-growth and employment aspirations.

The fund will enable successful applicants to purchase and implement specialised equipment or services to help them seize growth opportunities.

Funding up to $50K with 25%-50% matched by the business (up to $100K project)
For projects involving the following:
- Engagement of business mentors, advisors, advisory board
- Intellectual property advice, feasibility studies
- Purchase of advanced equipment (digital, logistics, etc.) or production equipment to meet growth demand
Eligible businesses must have the potential for high growth (20% increase in turnover or employment) within the next 2 years and have a full business plan in place
The fund is currently closed while a review is undertaken
More information is available at Business Growth Fund
You can also subscribe to the Small Business Connect newsletter to be notified when further business grant rounds open

Further help:

The Marsh & Partners team are able to provide advice and assist with R&D legislation as well as government grant applications.

If you would like to talk further about the financial help your business may be entitled to, you can reach us on (07) 3023 4800 or at mail@marshpartners.com.au.

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