Industrial Initiatives (Australia)

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Part
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Industrial Initiatives (Australia)

Five examples of Australia's government/legislative financial support initiatives for new businesses (not exclusive to small businesses) are the CSIRO Kick-Start Grant, the Advancing Renewables Program, Manufacturing Innovation & Enhancing Manufacturing Capability Vouchers, the Advanced Manufacturing Early Stage Research Fund, and the Business Growth Grant.

Findings

1. CSIRO Kick-Start Grant

  • This link is to the informational page.
  • This incentive is a grant.
  • The amount of money available ranges from $10,000 to $50,000.
  • The eligibility criteria are: (1) The company must be an Australian-registered company; (2) The company must have an Australian Company Number; (3) The company must operate for-profit; (4) Either the company's operating expenditure and annual turnover has to be under $1.5 million or the company must have been "a registered company for less than 3 years;" (5) The project being undertaken must involve researching a new discovery/idea that has commercial potential, developing an improved or new process or product, or testing a new invention or product created by the company; (6) The project has to "[b]e delivered by CSIRO business units and/or facilities" including energy, manufacturing, and several others; (7) The project must be completed within a year; and (8) The project must have a work scope and budget that's mutually agreed upon.
  • The Commonwealth Scientific and Industrial Research Organization provides this grant, as it's "Australia's independent federal government agency responsible for scientific research."

2. Advancing Renewables Program

  • This link is to the informational page.
  • This incentive is a grant.
  • The amount of money available ranges from $100,000 to $50 million. Recipients must match the grant amount they receive.
  • The eligibility criteria are: (1) The entity must be incorporated in Australia (except entities "applying for Desktop Studies and Analysis"); (2) The entity has to have an Australian Business Number; and (3) The entity's business operations must involve either "renewable energy technology or involve methods (including desktop studies and analysis) that can contribute to the program[] outcomes" for such.

3. Manufacturing Innovation & Enhancing Manufacturing Capability Vouchers

  • This link is to the informational page.
  • This incentive is a subsidy.
  • The amount of money available is $100,000 maximum ($50,000 for each voucher and two vouchers are allowed per recipient), though applicants must contribute 50% of the voucher amount.
  • The eligibility criteria are: (1) The company has to be "[c]urrently engaged in manufacturing or the manufacturing supply chain, or demonstrate a genuine commercial connection to the manufacturing supply chain;" (2) The company has to be a registered company in Victoria and have an Australian Business Number; (3) The company must be able to fulfill the contribution amount specified for the voucher; (4) The company must satisfy industrial relations requirements per National Employment Standards; (5) The company has to maintain business operations in Victoria; (6) The company has to either have 20 full-time employees or revenue exceeding $1.5 million; (7) The company must "[c]onduct the majority of proposed activities in Victoria in partnership with a Registered Service Provider;" and (8) The company must "[a]gree to participate in future program evaluation activity."
  • The vouchers we referenced are on page six of the informational brochure cited above.

4. Advanced Manufacturing Early Stage Research Fund

  • This link is to the informational page.
  • This incentive is a grant.
  • The amount of money available ranges from $100,000 to $400,000 per project.
  • The eligibility criteria are: (1) The company has to be a SME (small or medium-sized enterprises) with fewer than 200 employees; (2) The company must have an Australian Business Number; (3) The company cannot operate as a tax-exempt entity; (4) The company must "be registered for the Goods and Services Tax;" (5) The entity has to be either incorporated in Australia or be "an incorporated trustee on behalf of a trust;" (6) The company need to "have access to, or ownership of, the intellectual property (IP) necessary to conduct the [p]roject;" (7) The company must be able to show that it's financially able to finish the project; and (8) The project for which the grant is being sought has to "be industry led and involve collaboration with SMEs."

5. Business Growth Grant

  • This link is to the informational page.
  • This incentive is a grant.
  • The amount of money available is up to $20,000.
  • The eligibility criteria are: (1) The company needs to "have received a completed plan from a business advice or facilitation service;" (2) The company must "have not previously received a business growth grant to implement recommendations from the plan under which you are applying;" (3) The application has to be submitted "within 12 months of receiving a completed plan from . . . [the company's] advice or facilitation service unless " unless the program delegate agrees otherwise; (4) The proposed project satisfies the eligible activities criteria per "section 4.4 of the Business Management Grant Opportunity Guidelines;" (5) The project's minimum eligible expenditure is $5,000; and (6) The project hasn't started at the time of application.

Your research team applied the following strategy:

One limitation we encountered in our research was that we never found a single example of an Australian government financial support initiative that applied solely to new (not existing) businesses and also were not exclusive to small businesses. The likely reason for this is that new businesses start out as small businesses. We came to that conclusion after searching Australian government databases and many articles about such financial support initiatives. Due to that, our best solution was to find incentives that apply to new businesses and those that apply to more than just small businesses. We found the above incentives in a variety of ways. Some of the incentives were identified by searching for articles about such Australian government incentives. Other incentives were identified by searching Australian government grant/incentive databases. All of the above financial values are in AUD. Lastly, we included the information about the Kick-Start Grant in this Google Doc because the link to that source didn't work for some reason.
Sources
Sources