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Space Technology Seed Fund
The $500,000 Space Technology Seed Fund assists Tasmanian businesses to explore and enter the global space economy.
The Tasmanian Space Technology Seed Fund offers grants of between $25,000 to $100,000 to eligible businesses to support research and development projects that seek to extend, adapt or develop new products or services for the space economy. The Fund will allocate up to 50% of the eligible costs for projects of up to 18 months in duration.
A successful application:
- is submitted before the closing date and time
- meets all aspects of the eligibility criteria
- demonstrates a good understanding of the purpose of the grant program
- shows that the activity or project to be undertaken with the grant funding aligns with the purpose of the grant program
- has clear well-structured answers to all the assessment criteria questions
- contains, where requested, quality documented evidence to support your claims against the eligibility and/or assessment criteria.
What is eligible for funding?
The program provides grants of up to 50 per cent of approved project expenditure to successful applicants. Minimum grant request is $25,000 and maximum is $100,000.
The program will support projects that are focused on research and development activities that seek to conceptualise, validate, prototype, test or demonstrate a product or service for the space economy.
Eligible expenditure includes costs directly related to the proposed project, including but not limited to:
- labour expenses.
- equipment, devices, data, software.
- service provider fees, such as professional services, engineering, market research, technology consulting, data and computing services.
- relevant administrative and marketing costs.
What companies are eligible for funding?
Applicants who can apply must:
- be a company currently registered with the Australian Securities and Investment Commission
- be a company with a registered office and principal place of business address in Tasmania
- have an Australian Business Number (ABN)
- be registered for the Goods and Services Tax (GST)
- not be a consultant or intermediary
- joint applications are acceptable, provided you have a lead applicant who is the main driver of the project and is eligible to apply.
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.