Industry Growth Program

Applications are accepted at any point throughout the program’s duration.
The program includes Advisory Services and opportunities for matched grant funding, with grants ranging from $50,000 to $250,000 specifically for supporting early-stage commercialisation projects and grants ranging from $100,000 to $5 million designated for commercialisation and growth projects.

The Industry Growth Program offers support to innovative small and medium enterprises (SMEs) engaged in commercialisation and/or growth projects within the priority areas of the National Reconstruction Fund (NRF). This program comprises Advisory Services and opportunities for matched grant funding. Businesses that have received Advisory Services through the program are eligible to apply for matched grant funding to enhance their projects.

Key Requirements

Industry Growth Program Advisers (the Advisers), appointed by the department, will provide innovative SMEs tailored advice to support their commercialisation and/or growth projects in NRF priority areas. The Advisory Service is available to all eligible businesses and serves as a mandatory prerequisite for accessing the program’s grant opportunities. Program participants are expected to integrate the advice received through this program element into their grant funding applications.

The program’s Advisory Service is complemented by two grant opportunities:

grants ranging from $50,000 to $250,000 to support early-stage commercialisation projects
grants ranging from $100,000 to $5 million for commercialisation and growth projects.

To be eligible for an Industry Growth Program grant, applicants must demonstrate that they:

are actively participating in the Advisory Service component of the program and have received a report from their Adviser
can fulfil the co-funding contribution requirement for the grant opportunity.

Program participants have the option to apply for either or both Industry Growth Program grant opportunities throughout the program’s duration, based on their commercialisation and/or growth potential.

You will be paired with an Adviser who will collaborate with you to formulate recommendations and a plan for commercialisation and/or growth. The extent, nature, and duration of your Adviser’s involvement will hinge on:

the nature of your commercialisation and/or growth project
how relevant engagement would be advantageous for you and your business, considering your capability, capacity, and commitment to implementing advice
how the engagement aligns with the program’s objectives and outcomes
the available time and resources of Advisers.

The advice provided will be tailored to suit your business, covering areas such as:

commercialisation and growth strategies, including validation of the business model
exploring funding avenues, identifying potential investors, and capital raising
establishing networks and forming collaborative partnerships
commercialisation of intellectual property
market testing
crafting compelling value propositions.

If you succeed in securing Industry Growth Program grant funding, your Adviser will stay in contact with you throughout the grant project period.

What is eligible for funding?

Applications must meet the following criteria:

maintain a consolidated annual turnover of less than $20 million for each of the three financial years leading up to the submission of the application
present an innovative product, process, or service that you aim to commercialise and/or expand in one or more of the following NRF priority areas:
Value-add in resources
- This pertains to the sector of the Australian economy engaged in:
  - manufacturing products for use in or in connection with the mining industry
  - manufacturing products for use in or in connection with processing minerals
  - directly processing minerals
- For instance:
  - the production of exploration or drilling technologies, mining safety solutions, or items facilitating mineral transportation
  - the refining and processing of spodumene into lithium hydroxide and subsequently into cathode active materials for battery manufacturing, along with the production of technologies and other products integral to this processing.
Value-add in agriculture, forestry, and fisheries
- This pertains to the sector of the Australian economy engaged in:
  - manufacturing products for use in or in connection with a primary industry
  - manufacturing products for use in or in connection with processing produce of a primary industry
  - directly processing produce of a primary industry
- For instance:
  - the production of fertilisers and farming equipment, technologies for managing crop, tree, and animal health, as well as enhanced storage solutions to prolong product life
  - the manufacturing of food, beverage, timber, and fibre products, specifically because this manufacturing involves the processing of produce from primary industries. This does not cover the establishment of new farms or plantations
Transport
- This pertains to the sector of the Australian economy engaged in manufacturing any of the following products:
  - aircraft, road vehicles, rail vehicles, or ships
  - products for use in or in connection with aircraft, road vehicles, rail vehicles, or ships.
- For instance, this includes the manufacture of electric vehicles or related components and charging equipment. It excludes general-use infrastructure such as roads or railways but may involve products designed for use with or within such infrastructure, such as road surfacing solutions or rail components.
Medical science
- This pertains to the sector of the Australian economy engaged in manufacturing products for therapeutic use.
- This includes items such as medical devices, medicines, personal protective equipment, and vaccines. It excludes products intended for veterinary purposes and is not meant to contain items with potential secondary health applications, such as cosmetics or health food.
Renewables and low-emission technologies
- This refers to the sector of the Australian economy engaged in manufacturing products for use in or in connection with:
  - renewable energy generation, transmission, distribution, or storage
  - greenhouse gas emissions reduction
  - energy efficiency
  - recycling
  - waste reduction
  - resource recovery
- For instance, this includes the manufacturing of components for wind turbines, the production of batteries and solar panels, hydrogen electrolysers, and innovative packaging solutions for waste reduction. It does not cover the installation of standalone renewable energy infrastructure for general power generation, such as solar or wind farms.
Defence capability
- This pertains to the sector of the Australian economy engaged in manufacturing products that are wholly or primarily for use in or in connection with defense.
- It captures segments involved in providing essential inputs to defense capability, including those participating in the development, manufacturing, and sustainment of relevant products.
Enabling capabilities
- This pertains to the sector of the Australian economy engaged in manufacturing any of the following products:
  - advanced manufacturing technologies or materials technologies
  - artificial intelligence technologies
  - advanced information or communication technologies
  - quantum technologies
  - autonomous systems
  - robotics technologies
  - positioning, timing, and sensing technologies
  - biotechnologies
  - space objects or products for use in or in connection with space objects
  - other advanced technologies
- The term “advanced manufacturing or materials technologies” refers to technologies such as additive manufacturing, advanced composite materials, high-specification machining processes, semiconductors, and advanced integrated circuit manufacture.
- The category of “other advanced technologies” is intended to capture emerging technologies, acknowledging the rapid development and adoption of technology in Australian industry. Funding for the manufacturing of such new and innovative advanced technologies aligns with the government’s overall policy objective of establishing the Corporation to diversify and transform the Australian industry.

Innovative products, processes, or services must meet one of the following criteria:

be new, unique, or significantly different from any previously available product, process, or service in the market or industry where the product is intended to be sold or traded
involve substantial enhancements or developments of existing products, processes, or services that will enable the business to scale and transform.

It’s important to note that minor changes or improvements to existing products, processes, or services do not qualify as innovative for the purpose of this application.

What companies are eligible for funding?

To be eligible to apply, your organisation must meet the following criteria:

maintain a consolidated annual turnover of under $20 million for each of the three financial years preceding the submission of the application
have a valid Australian Business Number (ABN)
be non-exempt from income tax
be registered for the Goods and Services Tax (GST).

Furthermore, eligible entities must fall into one of the following categories:

a company duly incorporated in Australia.
a cooperative entity
an incorporated trustee submitting the application on behalf of a trust.

Is this grant competitive or entitlement based?

Competitive. Your application will be assessed among other applications by a judging panel.

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.

This grant is open

Apply for this grant below:

OR