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This grant has expired and is no longer available. However, please contact Avant Group in case there are alternative grants available or to be informed if this grant will reopen.
Regional Investment Activation Fund – Stream Two
- Applications are open: 19 September 2023
- Grants up to: $10 million
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. It will deliver sustainable employment opportunities, activate new industries, promote cluster development, and drive increased productivity, innovation and competitiveness of businesses in regional NSW.
RIAF will co-invest with eligible entities in catalytic projects that will deliver, or have the potential to deliver, significant economic, social and/or environmental benefits for a priority industry or location.
- organisation eligibility details, primary activities of the organisation, entity type (e.g., company, trust, cooperative, etc), industry sector, key competitors, ANZSIC code, ownership structure and project contact details
- a short description of:
- unique attributes of the project that make it time-sensitive and demonstrate that it is strategically significant for a priority industry or location
- 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
- status of appropriate IP rights for the project (if applicable).
- project budget including the estimated total cost of the project, grant request to the NSW Government, and cash co-contribution amount and source details
- 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 based 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 and operational by 30 May 2025. It is recommended applicants have a COVID plan in place to mitigate any potential delays due to COVID-19
- support sustainable employment opportunities and drive increased productivity, innovation and competitiveness of businesses in regional NSW priority industries and/or in a location of strategic importance
- deliver significant economic, social and/or environmental benefits for a priority industry or location
- provide proof of $20M of public liability insurance at time of contracting
- secure approvals to meet project timeframes
- confirm secured cash co-contribution
- not be suitable for financial support under other Australian and/or NSW Government funding programs, or requires a NSW Government funding co-contribution to support an application to another government or industry program.
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?
Entitlement. Applications are assessed against eligibility criteria.
How can I increase my chances of winning this grant?
By engaging an accredited government grants consultant, such as Avant Group.
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
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.