January, 2019: A new grant for the Australian defence industry, worth up to $150,000 is now open to Australian SME’s.
The Defence Global Competitiveness Grant provides matched funding up to $150,000 for investment in projects that will build Australia’s defence exports to be stronger, more sustainable and more globally competitive.
What Project are Eligible for Funding?
- Buying, leasing, constructing, installing or commissioning of capital equipment including specialist software to enhance cyber security
- Design, engineering and commissioning activities
- Workforce training and accreditations
What companies are eligible to apply for the grant?
To apply for this grant, you must:
- Have an Australian Business Number (ABN)
- Be an SME with less than 200 employees
- Be either a company, incorporated in Australia OR an incorporated trustee on behalf of a trust
How much money can I receive with this grant?
Minimum amount of funding: $15,000
Maximum amount of funding: $150,000
All funding is granted on a matched funding basis, meaning each dollar in grant funding must be matched by one dollar invested in the project by the recipient.
For example, a company would need to invest $30,000 in a project in order to receive $30,000 of government funding.
When does the grant open/close?
The grant is now open and is ongoing, meaning there is no closing date to submit an application.
What are the key requirements?
To be successful, your project will be based on the following key Merit Criteria:
- The extent that your project will help your business to build defence industry export capability
- Your capacity, capability and resources to deliver the project
- The impact of grant funding on your project
Do I need to pay back the money if I win the grant?
No, grants are akin to a gift. There’s no requirement to pay it back if you are successful.
Is this a competitive or entitlement grant?
Competitive. This means there’s a select amount of funding available and your project will be competing with similar projects looking for the same funding.
How can I increase my chances of winning this grant?
By engaging an accredited government grants consultant, such as Avant Group.
Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.
As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.
- Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project
- Industry analysis presentation
- Competitor Analysis Presentation
- Marketing and Sales Analysis Presentation
- 3-5 year Cashflow Forecast
- 3-5 year Balance Sheet Forecast
- Cost-Benefit Analysis of Grant Funding
- End-to-end grant application including information collating, analysis and application writing
- CAPEX (Capital Expenditure) cost-benefit analysis
- Stakeholder relations and Risk Mitigation Plans
- Any other relevant forecasting that will support your application
How can I get help with my application? Or know if I’m likely to win funding?
Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.
Get in touch with us by filling in our enquiry form, or phone our head office on (03) 8640 0914.