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Australian Grants waiting for Startups & SMEs (2024)

March 2, 2024
in Business
Australian Grants waiting for Startups & SMEs (2024)
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Here are the top grants you can use to boost the growth of your small business in Australia:

Australian Landing Pads 

Australian Landing Pads offer vital support and resources for startups aiming to expand internationally.

They provide workspace for up to 90 days in global innovation hubs, along with access to coaching, investors, customers, and networking events.

The program assists market-ready scaleups with an operational base and tailored support for their overseas expansion goals.

Scaleups participate in immersive programs in six Landing Pad cities: Bengalaru, London, New York, San Francisco, Shanghai, and Singapore.

Apply

Phone: 13 28 78

Email: [email protected]

Workforce Australia Wage Subsidies

Workforce Australia extends wage subsidies to businesses bringing on eligible job seekers, whether they’re startups expanding their teams or established businesses requiring additional support.

These subsidies alleviate the financial burden of hiring new staff, fostering job creation and economic development nationwide.

Businesses hiring employees for ongoing roles can receive financial support, with a maximum subsidy of $10,000.

Eligibility for this subsidy is possible when hiring through Workforce Australia, Workforce Australia – Transition to Work, or a ParentsNext provider. This assistance is tailored to cover initial hiring expenses and enhance the prospects of newly hired employees.

You will need to sign in, or set up, a Workforce Australia Online for Business account to approve your wage subsidy agreement, update your details and manage wage subsidy payments online. You must finalise your wage subsidy agreement online within 28 days of the new employee’s start date to be eligible for payment. For more information on the process for managing wage subsidies, read the user guide.

Export Market Development Grant 

The Export Market Development Grant (EMDG) offers financial aid to Australian businesses venturing into international markets.

Whether you’re exporting goods, services, or intellectual property, EMDG can assist in covering expenses related to marketing and promotional activities overseas.

By supporting export-related costs, EMDG empowers Australian businesses to compete globally and stimulate economic growth.

Please note that new regulations are anticipated for Round 4 of EMDG, expected to launch in late 2024 or early 2025. The information provided here pertains to Rounds 1, 2, and 3.

The EMDG program evaluates eligibility rather than competition. All eligible applicants are granted assistance. The process unfolds as follows:

Apply for a grant for eligible promotional activities you plan to undertake.

After all applications are assessed, Austrade offers a grant agreement to each eligible applicant.

If you agree, you enter into a grant agreement with Austrade. Grant agreements will clarify the maximum funding amounts per financial year over the term of your grant agreement.

You lodge a milestone report to request milestone payments as per your grant agreement. Your grant agreement will state when we make your milestone payments and what you need to do to get these payments

More about How to apply.

CSIRO Kick-Start 

The CSIRO Kick-Start program offers funding and assistance to Australian startups and small businesses seeking collaboration with CSIRO on research projects.

Whether you’re working on new products, processes, or services, CSIRO Kick-Start provides access to the expertise and resources necessary to realize your ideas.

Funding is available for feasibility studies, product testing, and more, driving innovation and fostering collaboration between industry and research.

To help startups and small businesses overcome barriers in pursuing R&D activities, CSIRO’s Kick-Start program offers an end-to-end facilitation service.

For every dollar provided by CSIRO, your company must match it with an equal cash contribution. For example, if CSIRO offers $50,000 in funding, your business must also contribute $50,000 in cash; in-kind contributions are not accepted.

Contact:  Dr Megan Sebben

Kick-Start Program Manager +61 3 9545 8543, Email Dr Megan Sebben

R&D Tax Incentive 

The R&D Tax Incentive is a government program in Australia designed to provide tax incentives to businesses engaged in research and development (R&D) activities.

Whether you’re a startup working on new technologies or an established business investing in innovation, this incentive can help offset the costs associated with R&D, ultimately boosting your bottom line.

By incentivizing investment in R&D, the program aims to stimulate innovation and contribute to economic growth throughout Australia.

Apply to register with the R&D Tax Incentive

If you’re ready start your application in the customer portal, read our pre-registration checklist before you submit.

Industry Growth Program 

The Industry Growth Program is a valuable resource for Australian businesses aiming to expand and create employment opportunities.

Whether you’re a startups looking to scale up or an established business eyeing new markets, this program offers financial aid, expert guidance, and networking opportunities to help you achieve your objectives.

With funding available for various activities such as business development, technology adoption, and workforce training, the Industry Growth Program is fuelling growth and innovation across diverse industries in Australia.

After receiving advice through the program, you may also qualify for additional support, including grants ranging from $50,000 to $250,000 for early-stage commercialization projects and grants ranging from $100,000 to $5 million for commercialization and growth projects. Industry Growth Program Grants are set to open in 2024.

Apply

Startup Year 

Startup Year is a dedicated initiative focused on nurturing and elevating startups across Australia. Whether you’re embarking on your entrepreneurial journey or aiming to propel your startup to greater heights, Startup Year offers access to a wealth of resources, mentorship, and networking opportunities to bolster your success.

Through a variety of funding and support programs, as well as engaging events and workshops, Startup Year plays a pivotal role in cultivating a dynamic and thriving startup ecosystem in Australia.

Additionally, Startup Year courses, also known as accelerator program courses, are designed to enhance students’ skills, capabilities, and networks, fostering entrepreneurialism and talent within Australia’s innovation landscape.

To facilitate student participation in these courses, the Government has introduced a new income-contingent loan program under the Higher Education Loan Program (HELP) called STARTUP-HELP, providing up to 2,000 loans annually to recent graduates, postgraduates, and final year undergraduate students.

For answers to frequently asked questions (FAQs) about the Startup Year program, please visit the Startup Year FAQs.

Australian Carbon Credit Unit Scheme 

The Australian Carbon Credit Unit (ACCU) Scheme provides financial incentives to businesses and landholders that reduce greenhouse gas emissions or sequester carbon.

Whether you’re implementing renewable energy projects, revegetating degraded land, or adopting sustainable agricultural practices, the ACCU Scheme can help you generate ACCUs that can be sold on the carbon market.

By providing financial rewards for carbon abatement activities, the ACCU Scheme is driving investment in climate-friendly projects and helping Australia meet its emissions reduction targets.

More information about the  ACCU Review is available on the DCCEEW website.

National Industrial Transformation Program

The Australian Renewable Energy Agency (ARENA) is committed to advancing Australia’s shift towards renewable energy sources by providing funding and support for projects in this sector.

Whether you’re working on solar, wind, or other renewable energy technologies, ARENA can help turn your ideas into reality.

With funding opportunities available for research, development, and commercialization, ARENA is actively driving innovation and opening up new avenues for growth within the renewable energy industry.

Of particular relevance to industrial transformation are two key programs:

The $400 million Industrial Transformation Stream, which operates as part of the broader $1.9 billion Powering the Regions Fund.

The $40 million National Industrial Transformation Program.

These programs are geared towards supporting initiatives that facilitate industrial transformation, contributing to the development and adoption of sustainable practices within the industrial sector.

Email: [email protected]. 

Keep up to date with our stories on LinkedIn, Twitter, Facebook and Instagram.

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Copyright for syndicated content belongs to the linked Source : Dynamic Business – https://dynamicbusiness.com/topics/news/australian-grants-waiting-for-startups-smes-2024.html

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