VIC Portland Diversification Fund
- Applications are open until: 1 January 2025, unless the funds are exhausted prior
- Funding available is capped at $500,000 (excluding GST) per activity
- Funded activities must be completed by 30 June 2025
The Portland Diversification Fund Program (PDF) offers professional financial assistance from the Victorian Government to businesses aiming to develop and/or expand operations that enhance the diversification of existing supply chains in Portland and the Glenelg Shire.
The Portland Diversification Fund aims to diversify the economic base of the Glenelg Shire by attracting new investment and supporting businesses to improve their productivity and competitiveness. Consequently, the fund could be utilised to conduct feasibility studies and business cases, enabling the development of capital projects and facilitating access to capital works funding through alternative avenues.
The funding proportion for planning activities is $4 from the Victorian Government for every $1 from other. Please take note that planning and feasibility tasks must be finished within a 12-month timeframe. The funding ratio for capital projects is $2 provided by the Victorian Government for every $1 from other
The funding limit for each activity is set at $500,000, excluding GST. Nevertheless, will also entertain applications for larger funding requests, which will be evaluated on a case-by-case basis, taking into account the project’s strategic significance in advancing economic growth and prosperity for Glenelg Shire.
Applications with substantial contributions from the applicants will receive more favourable consideration.
When seeking joint investment with other Victorian Government program funding, it is important to note that co-contributions to meet the required funding ratio must come from non-Victorian Government sources. Encouragement is given for such partnerships, which enhance collaborations and diversify funding streams.
When evaluating the requested PDF funding level, the total Victorian Government contribution will be duly considered. Community groups and social enterprises are eligible to claim in-kind contributions, which will be capped at 25% of the applicant’s own contribution. We strongly encourage interested parties to reach out to Regional Development Victoria (RDV) Portland for further information and assistance.
In preparing the application, applicants will be required to submit necessary supporting documents that effectively showcase the project’s capacity to fulfil each of the following criteria:
- Strength of supporting diversification in the Glenelg Shire economy – To what degree would the project yield economic or community development results in alignment with one or more of the following:
- Facilitate new investment that bolsters diversification in Glenelg Shire;
- Facilitate the creation of jobs in the private or public sector within Glenelg Shire;
- Facilitate the diversification of an operation or the expansion of existing businesses and/or supply chain in Glenelg Shire;
- For grant applications over $500,000 excluding GST, also evaluate the degree of strategic significance of the resulting project in advancing economic growth and prosperity for Glenelg Shire.
- Support infrastructure development that supports diversification in Glenelg Shire; and
- To generate long-term benefits that remain after funding has ceased.
- Project Need
- Addresses an existing identified gap or concerns;
- Details the risk to the project without Victorian Government support from this source;
- Requires Victorian Government support including funding, facilitation, other interventions, or approvals to proceed, or bring investment forward;
- Has an identified need for the project which is supported by evidence of previously undertaken investigations;
- Is supported by local, regional, state or commonwealth strategy or plan, knowledge and information demonstrating the challenges being confronted by the community including drought, rapid economic change, population growth and decline; and
- Is supported by the regional partnership, and local government authority, Furthermore, it is consistent with regional plans, shared priorities, and the direction of local, regional state, or commonwealth strategic plans.
- Project Delivery – To what extent does the project meet the following:
- Access to suitable project management during both the developmental and operational phases of the project;
- Detailed preliminary project implementation plan that illustrates how the project can be effectively executed within anticipated timeframes;
- Demonstrates project feasibility (i.e. how the project benefits will be sustained once funding ceases);
- Is investment ready, supported by a clear project management approach, relevant approvals, realistic timeframes and the ability to be executed within the stipulated timeframe and budget.
- Is financially viable, through on sound cost estimates and represents value for money;
- That all legal, land tenure, planning, and environmental matters have been recognised and resolved or satisfactory resolution strategies are in place;
- That project risks have been recognise and strategies are in place to manage them;
- Incorporates principles of environmentally sustainable design and addresses Universal Design while adhering to relevant anti-discrimination legislation;
- Is consistent with good heritage practise, i.e. The Burra Charter (if heritage listed);
- Sources materials and resources to deliver the project which bolster the regional community and economy; and
- Applicant’s ability to co-contribute a larger amount.
- Capability, Capacity and Track Record – To what extent does the applicant/project meet the following:
- Is financially viable and has the capacity to oversee and complete the project;
- Has conducted thorough project consultation in developing the project including project partners, other funding bodies, sponsors, other Government Departments and Agencies, community etc.;
- Demonstrates experience in relevant project delivery, including a track record of on-time and on-budget performance and
- If applicable, showcase the successful application of previous funding received from the Victorian Government.
What is eligible for funding?
Activities will only be considered where they will support the diversification of supply chains in the Glenelg Shire.
- Investigations into potential barriers to, or opportunities for, economic diversification in the Glenelg Shire (including, but not restricted to, business cases and feasibility studies).
- Implementation activities aimed at removing barriers to, or capitalising on opportunities for, economic diversification in the Glenelg Shire (including, but not exclusively to, program or service delivery, or infrastructure works).
- Investment in existing businesses that will diversify operations to foster growth and create jobs.
- Investing in workforce skills and development to support diversification in business or industry, including addressing housing supply for workers which support diversification in business or industry.
- Strategic planning focusing on the economic diversification of the Glenelg Shire.
- Targeted investment support and incentives for businesses to move to or expand into the Glenelg Shire involve new capital investment and job creation.
What companies are eligible for funding?
Grant applications will be considered from:
- Incorporated not-for-profit organisations operating businesses;
- Private sector businesses (note: Aboriginal businesses are encouraged to apply);
- Charities and incorporated not-for-profit organisations, including community groups;
- Business and industry groups including:
- Chambers of commerce and business associations;
- Industry peak bodies; and
- Business and industry clusters and networks.
- TAFE institutions and universities;
- Traditional Owner/Custodians groups;
- Water corporations;
- Utility and services providers;
- Local Government Authorities; and
- Other organisations agreed by Regional Development Victoria at its discretion.
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.