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Advance Queensland Ignite Ideas Fund

Advance Queensland Ignite Ideas Fund

  • Expression of Interest (EOI) applications for Round 11 are open until: 29 September 2023
  • Two funding tiers are available:
    • Tier 1 offers funding of up to $100,000 (exclusive of GST) for projects with a duration of no more than 12 months.
    • Tier 2 extends funding ranging from over $100,000 to $200,000 (exclusive of GST) for projects that can span up to 24 months.

Ignite Ideas funding is accessible to facilitate the commercialisation of exceptionally innovative and emerging products or services that have reached or exceeded the minimum viable product (MVP) stage. The Fund is dedicated to assisting small to medium-sized businesses in Queensland with substantial growth potential.

The Ignite Ideas Fund serves as a complementary initiative to the Advance Queensland Ignite Spark Program, which provides funding for projects focused on advancing highly innovative products and/or services. This support extends from the functional prototype stage through testing and validation, ultimately culminating in the market-ready stage.

In Round 11, successful applicants will gain access to supplementary business development assistance through our innovative Ignite+ program. This comprehensive initiative will deliver support encompassing various facets such as sales and marketing, customer acquisition, competitor analysis, legal support pertaining to intellectual property (IP), financial structuring, mentorship and sponsorship connections, and facilitation of introductions to business and investment networks.

Key Requirements

The Ignite Ideas Fund is designed to assist small to medium businesses based in Queensland with high-growth potential in undertaking commercialisation projects. These projects are intended to achieve the following objectives:

  • strengthen key industries in Queensland
  • diversify the Queensland economy
  • compete effectively in both domestic and global markets
  • engage with and/or deliver benefits to regional Queensland
  • generate new employment opportunities, both in the present and for the future.

Ignite Ideas funding is accessible to support the commercialisation of highly innovative and novel products or services that have reached at least the MVP stage or have progressed beyond it. It is important to note that Ignite Ideas funding does not cater to the development of a business concept, the further refinement or enhancement of an existing product or service, or expansion into new markets if the product or service is already established within a market.

The Ignite Ideas Fund employs a two-stage application process:

  1. In Stage 1, known as the Expression of Interest round, applicants are required to submit their Expressions of Interest through the Advance Queensland website. Applications close at 11am on Friday, 29 September 2023.
  2. Upon the evaluation of the Expression of Interest submissions, a selected group of applicants will be extended invitations to participate in Stage 2, which is the Full Application round.

What is eligible for funding?

Expenditure supported by the Ignite Ideas Fund must align with project-specific commercialisation activities and adhere to the following eligible cost categories:

  • Salary expenditure, which encompasses both salaries and associated on-costs, allocated to new employees directly contributing to project execution.
  • Salary expenditure, inclusive of salary-related on-costs, designated for founders and existing employees directly involved in project delivery, subject to a cap at 20% of the total grant.
  • Services provided by external parties unrelated to the applicant.
  • Acquisition of equipment, with individual items not exceeding $10,000 each and constrained by a cap at 10% of the total grant.
  • Expenses related to consumables necessary for the project.
  • Costs pertaining to travel, accommodation, and subsistence.

It is anticipated that all Ignite Ideas funding will be utilised within Queensland, unless a compelling demonstration is made that spending outside Queensland is necessary to ensure the project’s successful execution. The Department must assess project costs for suitability and reasonableness in relation to the project.

What companies are eligible for funding?

To be eligible for Ignite Ideas funding, the applicant organisation must meet the following criteria at the time of application:

  • Be a Queensland-based business.
  • Possess a valid ABN.
  • Be registered for GST at the time of submitting the Full Application.
  • Maintain a workforce with no more than 50 full-time equivalent employees.
  • Not operate as a subsidiary within a group of companies employing more than 50 full-time equivalent personnel in total.
  • Have not previously received funding for the proposed project activity from any level of government, whether state, federal, or local.

If applying for Tier 1 funding, the applicant organisation and/or related parties must:

  • Have no prior history of receiving Ignite Ideas funding.
  • Commit to making a cash contribution to the project, which must equate to at least 20% of the grant funding requested.

If seeking Tier 2 funding, the applicant organisation and/or related parties must:

  • Have not previously been granted an Ignite Ideas Fund Tier 2 grant.
  • Not submit an application for a product or service that has previously received Ignite Ideas funding.
  • Demonstrate successful completion of any project previously funded under Tier 1 of the Ignite Ideas Fund, if applicable.
  • Commit to making a cash contribution to the project, equal to or exceeding the amount of Ignite Ideas funding sought.

Each organisation and its associated entities are limited to a single application per funding round.

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.