Industry Growth Program Grant Opportunities for SMEs

The Australian Government is set to launch the Industry Growth Program, an initiative aimed at supporting startups and small and medium enterprises (SMEs) in their innovative commercialisation and growth endeavours. This program is aligned with the priority areas outlined in the Australian Government’s National Reconstruction Fund (NRF) and aims to bolster Australia’s manufacturing capability for the future.

Eligible businesses will gain access to a dedicated Industry Growth Program Adviser who will provide specialised advice tailored to support your commercialisation and growth priorities. The advisory service includes:

1. Tailored Guidance: Advisers will assist in testing your business model and overcoming challenges specific to your innovative project.
2. Strategic Recommendations: Collaboratively develop strategies and recommendations for commercialisation and growth priorities.
3. Funding Pathways: Explore suitable pathways for support and funding, including grant opportunities within the Industry Growth Program.

Upon receiving advisory service, eligible businesses may choose to apply for grant funding to further their commercialisation and growth projects. Grant opportunities include:

1. Early-Stage Commercialisation Grants: Ranging from $50,000 to $250,000, these grants support projects at the feasibility study, proof-of-concept, and prototyping stages.
2. Commercialisation and Growth Grants: Offering funding from $100,000 to $5,000,000, these grants aid innovative projects from prototyping through to market-readiness stages.

Who Should Apply? SMEs with innovative commercialisation and/or growth projects aligned with the NRF's priority areas, including but not limited to:

• Value-add in resources.
• Value-add in agriculture, forestry, and fisheries.
• Transport.
• Medical science.
• Renewables and low emissions technologies.
• Defence capability.
• Enabling capabilities.

How to Apply:

1. Check Eligibility: Ensure you meet the eligibility criteria outlined in the grant opportunity guidelines.
2. Access the Portal: Submit your application through the online portal, selecting the grant type aligned with your project.
3. Required Information: Have your Industry Growth Program Advisory Service (IGPAS) number ready to confirm receipt of an Advisory Service Report.

They encourage eligible SMEs to seize this opportunity to propel their innovative projects towards commercial success and contribute to Australia's manufacturing landscape.

Need help submitting your application? Contact the team at PKF today.

For further details on eligibility criteria and application procedures, click the button below.