Helping small businesses through new Industry Growth Program grant opportunities
Industry Growth Program grant opportunities are now open for innovative startups and small and medium enterprises (SMEs).
The Industry Growth Program works with innovative startups and SMEs. Industry Growth Program Advisers give advice to help businesses develop and commercialise new products, processes and services.
Industry Growth Program matched funding grants are now open.
The program is targeting businesses in the Australian Government’s priority areas for the National Reconstruction Fund (NRF). These areas focus on building manufacturing capability for the future.
There are 2 matched funding grants:
- Early-stage commercialisation grants from $50,000 to $250,000 for projects at the feasibility, proof-of-concept or prototype stage
- Commercialisation and growth grants from $100,000 to $5 million for projects in their prototype through to market readiness stage.
To be able to apply for the grants, SMEs first need to get advice and support through the Industry Growth Program Advisory Service. This service advises SMEs on how to develop and bring to market their innovative products, processes and services to scale and to transform their business.
Once a business has received advice from the Industry Growth Program Advisory Service, they can choose to apply for a matched funding grant. An independent assessment committee will assess eligible grant applications based on merit.