The Industry Growth Program is now open, with startups and innovative small and medium businesses (SMEs) able to apply for expert advice on their commercialisation and growth projects.
The Industry Growth Program enables eligible SMEs to receive advice from industry experts, with a particular focus on the early stages when businesses often have difficulty turning innovative ideas into profitable products, processes and services. A national network of advisers is being established to provide guidance on seeking investment, market testing, business models and networking.
Stage 1 of the program allows SMEs to receive advice from industry experts on:
- commercialisation and growth strategies
- funding avenues
- market testing
- business models
- building networks
Stage 2 of the program will provide matched grant funding for SMEs, targeted to commercialisation and/or growth projects within the National Reconstruction Fund (NRF) priority areas of:
- value-add in resources
- value-add in agriculture, forestry and fisheries
- transport
- medical science
- renewables and low emissions technologies
- defence capability
- enabling capabilities.
When will the grants launch?
The Industry Growth Program’s advice service is complemented by two grant opportunities, expected to launch in early 2024:
- matched grants of $50,000 to $250,000 to support early-stage commercialisation projects
- matched grants of $100,000 to $5 million for commercialisation and growth projects.
Businesses will need to go through the advice service prior to applying for a grant.
Important information
Important links for the Industry Growth Program can be found via:
- Industry Growth Program – https://business.gov.au/grants-and-programs/industry-growth-program
- Industry Growth Program guidelines – https://business.gov.au/grants-and-programs/industry-growth-program#key-documents