Future Industries Investment Program

Key Requirements

The application process is comprised of two stages:

Stage 1 — Eligibility application stage

Eligibility applications must include:

• the organisation’s details including ABN or other identifier
• short description of the applicant’s primary business activities
• a short description of the project scope and timing.
• the estimated dollar value of funding requested, including major expense items for which rebates are sought
• the estimated total cost of the project
• an estimate of the number of net new full-time equivalent jobs created by the project and the wages expected to be paid for each job or role
• the intended or likely location of the project in NSW.
• if the project will proceed outside of NSW without funding, evidence of consideration of alternative locations
• how the business activity was undertaken as a result of the project would enhance productivity in the NSW economy
• how the project aligns with one or more priority industries or precincts as listed in the NSW Industry Development Framework
• Funding previously received for this proposed project from the NSW Government or a Government in another Australian jurisdiction
• commitment to providing the level of information and documentation required at the detailed application stage within the timelines of the Program.

Stage 2 — Detailed application stage

During the detailed application stage, applicants will need to provide information including (but not limited to):

1. details of the project scope, including jobs created and expected wages, the timeframes for the delivery of outcomes, success measures, and any other relevant information
2. a feasibility study and project plan for the project, including any supporting quotes or technical documents, and details of how the proposal would be implemented
3. completed data sheet (a template will be provided) for the project, including project cost estimates and sources of major inputs, cash flow projections, underlying assumptions for the project’s lifecycle, and information on how many jobs and other quantifiable benefits the project will create over the first five years (at a minimum)
4. evidence of readiness of the project, including the status of development applications, landowner’s consent and/or regulatory approvals where required or applicable
5. applicant’s financial statements (trading, profit and loss statements and balance sheets) for three continuous years ending with the latest available year. An audited financial statement must be provided for the last financial year (2021-22 financial year for Australia-based applicants, if available)
6. any research and development component linked to the project
7. potential future products or productivity gains arising from the project
8. the requirements for successful implementation and identified risks and their mitigants and/or controls
9. financing and funding arrangements that might be relevant for consideration under the project
10. evidence of experience in delivering projects similar in scope and scale to the project or otherwise demonstrating capability and capacity to deliver the project
11. confirmation of the co-contribution to the project, including from the applicant and other sources
12. confirmation of how the project aligns with one or more priority industries, technologies or precincts as listed in the NSW Industry Development Framework.