Sector Growth Program
$20 million Jobs Boost and Blueprint for Growth
This program builds on the Future Industries plans from the Victorian government and makes available grants of up to $1m per project.
Two types of grants are available.
1. Scoping, planning and feasibility studies:
Projects that will be considered for funding under Stream 1 of the program will focus on scoping, planning and feasibility studies directed at identifying opportunities aligned with the Future Industries Sector Strategies. Funding of up to $10,000 is available. Eligible activities can include:
- Road mapping
- Supply chain analysis
- Sector capability audits
- Economic impact analyses
- Feasibility studies
- Sector opportunity analysis
- Pathway to market strategy
2. Project implementation:
Projects that will be considered will focus on the implementation of projects aligned with the Future Industries Sector Strategies that enhance the applicants’ and the sectors’ growth, productivity and competitiveness. Funding of up to $1 million will be available for projects in Stream 2. All funding must be matched by a minimum cash co-contribution of $1 for every $1 funded. Projects are to be completed within two (2) years of the negotiation of a suitable grant agreement. Relevant activities include but are not limited to:
- Shared infrastructure solutions
- Piloting new technologies, such as demonstration plant/equipment
- Establishing consolidated industry capability.
To be eligible for either stream, applications must be submitted on behalf of a consortium with a lead applicant which can be either private sector businesses; not for profit organisations, such as educational or health institutions, Victorian local government authorities; Victorian public sector agencies.
For full details of the program and eligibility criteria see the information at Business Victoria
Local Industry Fund for Transition, Melbourne's North (LIFT)
The State Government has implemented this program, offering grants of up to $2 million to businesses based in the North. The fund replaces the established Melbourne's North Innovation and Investment Fund (MNIIF) and supports projects that create sustainable jobs and economic activity. Eligible project expenditure may include: purchase of equipment or machinery to assist business establishment or expansion, direct labour costs, construction or fit-out of a new building or extension to existing premises. There is a cash co-contribution of $3 for every $1 granted. Preference will be given to projects that create jobs for local workers facing retrenchment due to the closure of automotive manufacturing operations.
Read more about the programme on the Fact Sheet or submit an expression of interest.
Future Industries Manufacturing Program
The Victorian Government has established the $200m Future Industries Fund to support six high-growth sectors that have potential for extraordinary economic growth - to create jobs and attract investment in Victoria. Arising from this program is the Future Industries Manufacturing Program (FIMP) which offers generous grants for the manufacturing sector.
Summary:
- Grants of up to $500k per business called for. Grants of less than $100k will not be accepted.
Business should:
Have the ability to meet the co-contribution requirement ($3 for every $1 granted)
The program provides grants of up to 25 per cent of eligible project expenditure, with a maximum grant of $500,000. Applicants will need to demonstrate how the project outcomes justify the grant investment.
Eligible project expenditure includes the following activities relating to the proposed project:
- Capital expenditure and other project-related non-capitalised expenditure (but does not include vehicles, internal costs or salaries)
- Manufacturing product and process improvements (including significant improvements in technical specifications; components and materials; software in the project; user friendliness or other functional characteristics; and/or new or significantly improved production or delivery methods)
- Prototyping, evaluation and testing of new products and manufacturing processes
- Supply chain capability development
- Tooling
- Training specific to the technology (external costs only)
- Labour and contractors (but does not include internal salaries)
- Manufacturing machinery and equipment, (for example, repurposing state-of-the-art automotive manufacturing equipment), or
- Minor building alterations and fit-out costs
Assessment Criteria
- Impact of the Project on Employment and Skills
- The Level of Economic Benefit the Proposed Project will bring to Victoria
- The Demonstrated Skills, Experience and Resources Available to the Business to Successfully Undertake the Project
- Value for Money
- Need for Government Support.
Victoria's Automotive Transition Plan
Towards Future Industries: Victoria's Automotive Transition Plan
The Victorian Government has announced its $46.5m Towards Future Industries: Victoria's Automotive Transition Plan to help businesses, workers and communities affected by the closure of automotive manufacturing operations to meet the challenges ahead and capitalise on emerging opportunities.
Assistance for businesses:
The Government has established the new $5m Automotive Supply Chain Transition Program to support Victorian automotive supply chain companies affected by the closure of passenger vehicle manufacturing in Victoria.
Assistance of up to $65,000 will be provided to eligible supply chain companies to help guide them through this period.
The funding will help companies develop a transition plan to identify new opportunities and target sectors and markets, and provide assistance to pursue those opportunities.
Find out more or apply for Automotive Supply Chain Transition Program.
Incubator Support Initiative
An initiative of the Federal Government, stemming out of the National Innovation and Science Agenda, this will support existing incubators and encourage the development of new ones.
The Incubator Support initiative provides funding through two components to deliver Incubator Support projects, both of which require matched funding from applicants.
The first is support for New and Existing Incubators:
- to help develop new incubators in regions or sectors with high potential for success in international trade, and
- to boost the effectiveness of high performing incubators, including funding support to expand their services and/or develop the innovation ecosystem.
The second is support for Expert-in-Residence:
- to provide access to top quality research, managerial and technical talent through secondments of national or international expert advisers who will improve their chance of commercial success in international markets.
Grant funding of up to 50 per cent of total Incubator Support Project Values will be available as follows:
- a minimum grant amount of $10,000 and a maximum grant amount of $500,000 for New and Existing Incubators per project with a maximum grant period of 24 months.
- a minimum grant amount of $1,000 and a maximum grant amount of $25,000 for Expert-In-Residence per project with a maximum grant period of 12 months
More information, including application forms can be found on the National Science and Innovation Website.
New fund for small to medium business - Coles Nurture Fund
Coles is allocating $10m per year in grants and interest free loans to encourage small business to develop market leading products, technologies, systems and processes. Available to businesses that employ no more than 50 FTE with a turnover of less than $25m, this fund could be the difference in getting great ideas up and running.
For all the details on this, visit the Coles Nurture Fund Guidelines.
Community Grants
Start up Finance Package for Aboriginal and Torres Strait Islander entrepreneurs
An initiative of Indigenous Business Australia, this package makes it easier to get your business idea off the ground. You can access up to 30% of a new business loan as a grant to purchase assets for your business which you will not have to repay. Additional support is also provided. For more details or to apply call 1800 107 107 or see the details on the Indigenous Business Australia site.
Sustainability Grants
Waste to Energy Infrastructure Fund
A $2m grant and investment facilitation program designed to support the installation of new or upgrades to existing waste to energy facilities or technology. With a particular emphasis on food waste from commercial and industrial businesses this grant is suitable for those that are able to have a project commissioned by 31 December 2019.
For full details visit Sustainability Victoria.
Energy Assessment Grants
Boost productivity by reducing energy costs. These grants can provide either basic or detailed energy assessments from experts and are available to small to medium businesses - those employing less than 200 fte who spend over $20k on energy bills. Applications close 28 September 2018 unless funds are fully allocated before this date.
For full details visit Sustainability Victoria .
Social Impact Investment for Sustainability Program
The Victorian Government is supporting investment-ready social enterprises to create new jobs and training opportunities, respond to climate change, avoid and recover waste and improve resource efficiency in the Victorian community.
The program provides a combination of grant and low interest loan. Investment-ready social enterprises can apply for up to $200,000 as a combination grant and low interest (2.5%) loan to scale up (expand) their operations.
Visit Sustainability Victoria for all details including application process,
Energy Efficient Grants
Sustainability Victoria is calling for expressions of interest (EOI) from industry associations, business networks and registered training organisations (RTOs) wanting to apply for a grant to fund a project that builds the energy efficiency capability of small and medium sized enterprises (SMEs) or service providers. Projects need to deliver outcomes of big impact and long lasting change.
Visit Sustainability Victoria for all details including the application process.
Other Grant Opportunities
Find a grant for your business on the Business Victoria portal or with the Federal Government's grant finder there are hundreds of grants available for businesses to take advantage of.
Further Information:
Business Development
Ph: 8470 8344
Email: business@darebin.vic.gov.au