With the recent change in Federal Government, and the ensuing policy reset, the start of FY23 will likely be a transitional time across the grant funding landscape. In times like this, it can be difficult to assess what funding opportunities are available to your business.
Governments provide various funding programs to support a broad range of policy objectives designed to stimulate innovation, competitiveness and business sustainability as well increasing jobs, investment and exports. Pleasingly, the new Labour Government has been transparent in its renewed commitment to Australia based manufacturing, with a slated $1 billion investment in advanced manufacturing expected. Priority industries for Federal Government will likely include transport, defence, resources, agricultural and food processing, medical science, renewables and low emission technologies.
If you operate in one of the above sectors and have plans to invest in in capital equipment, create jobs, export, or undertake process or business improvement, there may be government funding opportunities available.
Why is it important to be ‘grant ready’?
Grant applications require detailed documentation and considered thinking around policy to project alignment, and the investment proposal and pitch. Given funding rounds open without warning, and are typically only open for a few weeks, developing a robust application, within the short time frame, can be challenging.
If attracting government funding is important to your business, being ‘grant ready’ can increase your chance of submitting a strong and meritorious application, and by extension, increase your odds of attracting the funding you need. Analysis of our successful FY22 applications indicates clients that were ‘grant ready’ were able to strategically access multiple grant programs. By extension, on average, they were able to attract 28% more funding than the average amount awarded to other clients.
The grants landscape can be overwhelming, our team can guide you to identify the programs that present the best opportunity for your business.
How can I improve my grant readiness?
Our Grant Ready Workshop is a strategic approach to employing government funding in your business. We offer a three hour Grant Ready Workshop where we:
- Provide an overview of the Government funding landscape;
- Take you through our four pillars of grant readiness (Strategy, Readiness, Scoping, Responding);
- Identify key opportunities at a Federal, State and Industry level; and
- Have a detailed discussion about your investment pipeline, identifying grants aligned to your projects.
The workshop includes a follow up Grant Strategy Report, with a quarterly report on funding opportunities as an added option.
This financial year the Government Grants team successfully attracted over $150m in government funding for our clients, supporting projects across a wide range of industry sectors from Agribusiness, Food and Beverage to Medtech and Clean Energy. So with a new financial year on the horizon, why not invest in understanding how your business can better leverage Government support?
Learn more about how our Innovation Incentives services can help you
