EMDG applications opening soon for Australian exporters

With applications for the 2024 (Round 3) Export Market Development Grant (EMDG) program opening in a few short weeks, now is the time to get organised.

The EMDG program is the Federal Government’s cornerstone funding program encouraging Australian businesses to seek export opportunities for their goods, services, intellectual property and software. The program allows businesses to access grants over an 8 year period, or up to a total funding amount of $770,000. The reform model is available to businesses with a turnover of less than $20 million.

Timeframes and changes

Applications are proposed to open for 4 weeks from Wednesday 15 March 2023 at 9:00am AEDT and will close on Friday 14 April 2023 at 4:00pm AEST.

EMDG applications for the 2024 financial year allow grant funding for one year with a possibility of extension (subject to the availability of funds).

Other changes announced by Austrade:

• The definition of strategic shift for Tier 3 grantees has been updated. This is based on feedback that the definition needed to be clearer and to focus on market diversification.
• Austrade now also requires that businesses meet their taxation obligations, that is, comply with all the relevant Australian Taxation Office (ATO) legislation, rulings, and guidelines.

Key benefits and eligible expenses

The program is self-assessment-based and offers a 50% reimbursement of your planned eligible expenses. Australian businesses can receive up to $150,000 per annum, noting that the actual grant amount available is determined during each grant round based on the pool of funds available and the number of applicants. Read more about the costs you can claim here.

How we can help

Now is the time to get ready for the 2024 EMDG application process. You will need to gather a series of files to substantiate your claim, including marketing plans and budgets, export evidence and financial statements.

Our team of experts can help you to proactively prepare all necessary material to apply for this round of funding. We conduct an in-depth discussion with each client to understand their exporting needs and desires, working with them to attain the most benefit out of the EMDG program. Our service and support starts from EMDG applications, writing business plans to auditing and completing milestone reports.

Please reach out if you would like to have a meeting to discuss your eligibility for the 2024 EMDG program.