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Regional Investment Activation Fund – Stream One
The $110 million Regional Investment Activation Fund aims to activate the economic potential of key industries and locations in alignment with the Vision and other NSW Government strategies and priorities.
The program defines catalytic projects as those that are strategically significant and aligned to key NSW Government priorities and strategies, which are necessary to activate priority precincts and/or deliver high-value jobs across key industries in Regional NSW.
The EOI stage provides an initial entry point for organisations seeking financial assistance under RIAF. Applicants may submit more than one EOI for eligible projects.
Each EOI application must include:
- organisation eligibility details as listed in Section 2.1, primary activities of the organisation, industry sector, key competitors, ANZSIC code, ownership structure and project contact details
- a short description of:
- project scope and proposed use of the grant, including the aim, objectives, deliverables/outputs, timeframes for delivery and location
- proposed governance arrangements to manage the project
- organisation’s experience in delivering projects similar in scope and scale to the proposed project
- benefits the project is expected to provide
- collaboration arrangements including identification of project partners and how resources, technology and/or infrastructure will be shared (if applicable)
- status of any permissions or approvals relevant to the project and pathway to achieve all relevant permissions and approvals within the proposed project timeframe, for example, development approval, landowner’s consent, other regulatory approvals such as Therapeutics Goods Administration approvals
- status of appropriate IP rights for the project (if applicable).
- project budget including:
- estimated total cost of the project
- grant amount requested; and
- cash co-contribution amount and source.
- financial statements (trading, profit & loss statements and balance sheets) for three continuous years starting from the latest available year or other evidence of financial viability if statements are not available (for example a signed statement from an external accountant).
What is eligible for funding?
- be located in one of the 93 regional NSW local government areas, the Unincorporated Far West or Lord Howe Island. Projects located in Greater Sydney (including the Blue Mountains, Hawkesbury and Wollondilly), Newcastle or Wollongong Local Government Areas are not eligible
- demonstrate the project would not occur in regional NSW at all, or in the same timeframe, without government investment support
- be delivered by 30 May 2025. It is recommended applicants have a COVID plan in place to mitigate any potential delays due to COVID-19
- deliver significant economic, social and/or environmental benefits for an industry or region
- deliver economic benefits to multiple organisations or businesses
- provide proof of $20M of public liability insurance at time of contracting
- secure approvals to meet project timeframes
- confirm secured cash co-contribution.
What companies are eligible for funding?
To be eligible to apply for funding, applicants must:
- have an Australian Business Number (ABN)
- be one of the following:
- a company incorporated in Australia
- a company limited by guarantee
- an incorporated trustee on behalf of a trust
- an incorporated association or co-operative
- an Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander) Act 2006.
- be registered for GST
- be financially viable and able to demonstrate that they are likely to remain so over the duration of the project
- have at least $20 million public liability insurance or be able to secure before entering into a Funding Deed if successful.
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.