SA Research and Innovation Fund (RIF) Seed-Start Program
- Application opens: on an ongoing basis
- Seed Grant: Ranging from $50,000 to $100,000 are available on a competitive 2:1 match funding basis. An early-stage startup receives grant funding to embark on a specified project that will overcome the initial hurdles in obtaining they’re entering a product or service into national and worldwide marketplaces. The project must be completed within a two-year time span, and result in a unique or long-term product or service competitive advantage.
- Start Grant: Competitive 1:1 matched funding grants ranging from $100,001 to $500,000 are available. Grant monies are given to an early-stage business in order for it to complete a certain project. help hasten the development and promotion of their product or service on a national and international scale International marketplaces. Start Grants are intended to assist firms that have progressed beyond the early seed stage and have a product or service that is ready (or close to being ready) for commercialisation.
Seed-Start grants provide financial assistance to creative early-stage South Australian firms with significant development potential to commercialise products or services that are distinctive or have a long-term competitive advantage in both domestic and international markets.
Grant assistance is offered to help defray the costs of completing a well-defined project (i.e. a scope of work). Task with a fixed start and finish date) that provides a watershed moment in the progress of the business, generating major benefits such as revenue growth, export money, and local employment.
South Australia may profit from employment or other social benefits.
South Australia will benefit from Seed-Start funds in the following ways:
- promoting the formation and growth of new and innovative enterprises in South Australia that contribute to the development of South Australian competence and capacity
- increasing the number of jobs in South Australia, particularly in skilled occupations
- boosting the number of young South Australian enterprises that are attracting private funding
- bringing economic and/or public advantages to South Australia.
A competitive application will be able to demonstrate the following:
- a compelling argument for why grant funding is required at this moment
- access to the project’s required matched financing (in cash) and the grant requirement
- a clearly defined customer problem or market opportunity (backed up by facts)
- a well-defined solution that meets the problem or opportunity and is both financially and technically viable technically viable, innovative, or creates a major competitive advantage in national and international markets international marketplaces (supported by evidence)
- a viable project concept, as well as a clear path to market
- a solid awareness of the business’s technical, commercial, and financial risks and the applicant’s ability to avoid such risks
- suitable business financials (such as a balance sheet, profit and loss statement, and cash-flow statement, modeling) that includes evidence to back up the basic assumptions
- access to the necessary commercial and technical capabilities to carry out the project plan and put the solution into action.
What is eligible for funding?
The following activities and/or expenditures are eligible for grant funding and matching funding components required for the successful completion of the proposed project:
- salaries and consumables directly related to or vital to project completion
- gaining access to specialised expert services
- gaining access to and purchasing specialised equipment, hardware, software, and service provider fees
- obtaining or defending intellectual property rights
- minimum Viable Product prototype and development
- scholarships, study visits, market research/testing, and interactions with key consumers and investors
- travel expenses for testing, product/service market growth, fund raising, and other partnership or investment opportunities
- data collection and regulatory approval efforts.
What companies are eligible for funding?
To be eligible an applicant must:
- be an Australian firm with an active Australian Business Number (ABN):
- be a non-tax-exempt business
- be GST (Goods and Services Tax) registered
- having had a yearly turnover of less than $1 million in each of the three previous fiscal years application submission – this contains the annual turnover for any Related Bodies Corporate
- Prior to beginning the project, you must be based in South Australia or be willing to relocate there.
If an applicant has previously received a South Australian Government grant for the same purpose, project, or stage of the project, the applicant is not eligible for additional money from this source program. An applicant may apply for a different or subsequent stage of the project showing progress and acquittal of earlier financing from the South Australian Government.
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.