WA Value Add Investment Grant – Feasibility Stream
- Applications open until: 30 June 2024
- Grants: up to $200,000
The Government of Western Australia supports agriculture, food and beverage businesses to expand their capital investment projects in WA or relocate their value adding and processing operations to WA through the Feasibility Stream of Value Add Investment Grants (VAIG).
The Feasibility stream of the Value Add Investment Grants (VAIG) program aims to promote new investments and reduce risk for companies looking to grow, diversify, or relocate their value-adding and processing operations in Western Australia. Eligible businesses can apply for funding to support planning or feasibility activities, which can help them make investment decisions for capital investment or expansion projects in agriculture, food and beverage manufacturing or other value-added processing.
Even if they don’t yet meet the necessary feasibility, business case, or derisking requirements, proposed capital projects can apply for funding to further plan and develop their projects. This grant funding will create a pool of investable projects, increasing their competitiveness for future public or private investment.
What is eligible for funding?
The feasibility project must be related to food and beverage manufacturing and involve planning and developing qualifying capital investment and expansion projects, or other forms of value-added processing in Western Australia; and must be associated with one or more of the following qualifying capital investment and expansion projects:
- Investment in new processing or manufacturing facilities, new technology, or plant modernisation that reduces WA’s dependency on imported goods, promotes corporate expansion, encourages innovation, and generates employment;
- Investment that enhances sustainability, lessens the environmental effect of the production or processing operations being carried out, or helps to improve overall environmental, social, and governance outcomes;
- Investment that promotes the growth or diversification of commercial activities connected to the value addition of primary output in WA;
- An investment that entails establishing new activities, expanding current operations in WA, or moving operations there.
Funds can be used to hire professionals to evaluate the viability of proposed investments and gather supporting information. Eligible services include technical consulting, accounting, legal, tax, property-related services, market analysis, specialist reports, regulatory approvals, licensing, and other relevant services.
What companies are eligible for funding?
To be eligible applicants must:
- Being a privately held company with an ASIC registration or an Australian Business Number (ABN) and a minimum yearly sales turnover of $100,000;
- Be a “going concern,” which means that it will continue to operate into the foreseeable future and that the applicant is aware of no plans, events, or other circumstances that might cause the firm to stop operating;
- Be considering a project in Western Australia or looking to move operations there (see below if your company is currently situated elsewhere);
- Possess the capacity to enter into a contract with the Western Australian Government that is legally binding;
- Possess the resources necessary to fund the required minimum cash contribution (50% of the project’s overall budget); and
- Own the means to contribute the required minimum in cash (50% of the project’s overall costs)
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.