South Australian Business News

Will 'Future Made in Australia' grants help SME's?

Darcy Matthews
Thursday, May 9th 2024

As part of their Future Made in Australia agenda the federal government are introducing grants of up to $5 million to help innovative startups and SMEs commercialise their ideas that are a part of the National Reconstruction Funds priority areas. 

Those priorities are:

  • Resources
  • Transport
  • Medical science
  • Defence capability
  • Renewables and low emissions
  • Agriculture, forestry and fishing
  • Enabling capabilities

Grant funding is led by the Industry Growth Program (IGP). The two grant streams open are…

  • Early-stage commercial grants from $50,000 to $250,000 help establish the commercial viability of an innovative product, process, or service.
  • Commercialisation and Growth grants from $100,000 to $5 million to help push ideas from prototyping through to market readiness stages. Grants will help develop strategies for entry to market and scaling up into national and international markets. 

To be eligible, businesses will need to be connected with an IGP adviser who will provide personalised advice to support your application and help fit the programs priorities. The advice tailored to your business could include business modelling, growth strategies and capital raising. 

To apply for the advisory service and potentially start a grant application please click here.

Author

Darcy Matthews

Policy Officer
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