The federal government in response to the GFC made available a number of grants and tax incentives specially targeted at SMEs. These are to assist in growing revenue, funding IT services and encouraging online communications.
Knowledge is the driver of today’s economy – IT Infrastructure is now at the heart of survival for many organisations. The government recognises Increasing efficiency online requires optimisation and on-going investment in order to adapt to rapidly changing environments to maintain a competitive advantage.
Currently 95 per cent of small businesses are connected to the internet, yet only 57 per cent have a website.
$14 million in funding is available for investment in IT infrastructure and online initiatives. Programs are open to individual businesses or groups, with groups eligible for a greater share of funding.
Various grants and investment support are available through a number of state and federal departments, focused on infrastructure, security, communications and green business initiatives.
Here we look at a variety of grants focused on technology, green business and infrastructure offered by various state and federal grants.
Click on the links provided for more information.
Government grants & programs:
TechFast
Overview: The Australian Institute for Commercialisation's TechFast program works with Australian companies to identify, assess and pursue new technology and business collaborations.
Who is it for? Techfast assists companies to solve existing problems and potentially grow the business through the adoption of new technologies or creation of new partnerships.
Funding/Incentives: Funded by the Commonwealth and State Government, TechFast provides matched funding support of up to $50,000 per company.
For more information visit www.ausicom.com.au.
Climate Ready
Overview: The program supports research and development, proof-of-concept and early-stage commercialisation activities to develop solutions to climate change challenges.
Who is it for?: Companies can apply for funding for any or all aspects of the development of an innovative product, process or service including research and development, proof-of-concept, and early-stage commercialisation.
Funding/Incentives: Climate ready provides grants of $50,000 to $5 million, up to a maximum of 50% of the cost of research and development.
More information is available from the AusIndustry website www.ausindustry.gov.au
Re-tooling for Climate Change
Overview: Supports small and medium sized Australian manufacturers reduce their environmental footprint, through projects that improve the energy and/or water efficiency of their production processes.
Who is it for?: Small and medium sized Australian manufacturers undertaking manufacturing activities in Australia to reduce their environmental footprint.
Funding/Incentives: Grants of between $10,000 and $500,000 are available, up to a maximum of half the cost of each project. This program runs until 2012.
More information is available from the AusIndustry website www.ausindustry.gov.au
Green Building Fund
Overview: The Green Building Fund aims to reduce the impact of Australia's built environment on green house gas emissions, by reducing the energy consumed in the operation of existing commercial office buildings.
Who is it for?: Owners of existing commercial office buildings. It aims to help them to reduce their energy consumption, by retro-fitting or retro-commissioning projects.
Funding/Incentives: Grants ranging from $50,000 to $500,000 are available for up to 50% of project costs.
More information is available from the AusIndustry website www.ausindustry.gov.au
Australian Technology Showcase
Overview: This national program, with the support of Commonwealth and State Governments, is to promote ATS member technologies on the world stage and help Australian innovators to win international recognition and business. ATS members are leading edge 'export-ready' technologies from all industries.
Who is it for?: Businesses that have an innovative, Australian technology that has global marketing potential.
Funding/Incentives: Successful applicants of the showcase have access to a number of opportunities including; seminars and expos, support of a dedicated Business Development Manager, joint venture partnerships and marketing support.
Contact: Australian Technology Showcase
Tel: (+61 3) 9651 9016 or (+61 3) 9653 2554
Innovation Investment Fund
Overview: Assists small, high-tech companies to access equity finance in their seed, start up or early expansion stage.
Who is it for?: The IIF venture capital funds invest in early stage companies commercialising Australian R&D. The IIF enables private sector investors to leverage off public equity capital. By demonstrating the returns achievable from investing in such companies, IIF aims to encourage additional private sector investment.
Funding/Incentives: Funding is currently in its third round of investment.
Visit www.innovation.gov.au
Phone: AusIndustry hotline 13 28 46
C21 Challenge
Overview: This is a business support program which aims to improve the global competitiveness and sustainability for the 21st Century of Tier 2 and Tier 3 suppliers, by offering them the opportunity to think strategically about the future and improving their processes.
Eligibility: You must be a commercial component manufacturing businesses and diversified manufacturing businesses that have an exposure to the automotive industry.
Contact: Victorian Business Line
Tel: 13 22 15
EMDG – Export Market Development Grants Scheme
Overview: This scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by Austrade, the scheme supports a wide range of industry sectors and products, including inbound tourism and the export of intellectual property and know-how outside Australia.
Eligibility: To access the scheme for the first time, businesses need to have spent $10,000 over two years on eligible export marketing expenses.
Contact: emdg.help@austrade.gov.au
Grow Your Business – Business Strategic Review
Overview: The Grow Your Business Program is designed to be flexible to meet the needs of individual businesses and thus requires a degree of 'strategic thought' aimed at identifying the program goals.
Eligibility: Eligible individual businesses can apply for a grant of 75 per cent of total project cost up to a maximum of $4000.
Contact: Victorian Business Line
Tel: 13 22 15
Small Business Online (SBO)
Overview: The Small Business Online initiative will equip small businesses to go online and improve their web facilities and engage in e-business capabilities enabling them to take full advantage of the National Broadband Network. The $10 million Small Business Online program was announced in the 2009-10 Budget. This funding will be available for the program over the next two years and will conclude on 30 June 2011.
Eligibility: Open to all small business sectors.
Contact: AusIndustry Hotline on 13 28 46 or hotline@ausindustry.gov.au