Businesses should be aware of the numerous grant opportunities available from Commonwealth, State, and private sources. These grants could be the key to making manufacturing, agriculture, and green economy projects a reality.
Some grants of interest:
Queensland: ReMade in Queensland
The ReMade in Queensland program, part of the $1.1b Recycling and Jobs Fund, offers grants to support small-to-medium sized manufacturing and recycling businesses in Queensland. This program incentivises the use of recycled inputs and waste streams for new product manufacture. Move fast, the submission deadline is quickly approaching.
SME manufacturing and recycling businesses in Queensland
Funding: Grants between $50,000 to $2.5m (matched funding).
Timing: open now, closes 19 February 2024.
More information: https://www.business.qld.gov.au/industries/manufacturing-retail/manufacturing/grant-programs/remade-in-queensland
Commonwealth: Methane Emissions Reduction in Livestock
This program is designed to validate and demonstrate methane-reducing feed supplements for grazing animals (beef and dairy cattle and sheep) in large-scale livestock farming.
Who’s it for: Corporations and other entities developing methane-reducing livestock feed supplements to grazing animals (beef, dairy cattle, sheep).
Funding: Grants between $1m to $3m (covering up to 80% of eligible expenditure)
Timing: Opens 7 February 2024 and closes 20 March 2024.
More information: https://business.gov.au/grants-and-programs/methane-emissions-reduction-in-livestock-stage-3-round-2
Commonwealth: Industry Growth Program
The long-awaited $392m Industry Growth Program (IGP) finally opened in November 2023 with advisors formally announced in January 2024. The program supports start-ups and small and medium sized businesses to develop or scale up innovative products, processes, or services. With over 800 applications so far, we encourage prospective applicants to jump on this opportunity quickly. Join our webinar here.
Who’s it for: SME businesses seeking to commercialise innovative products, processes and services within National Reconstruction Fund target industry sectors: value-add in resources, agriculture, forestry and fisheries; transport; medical science; renewables and low emission technologies; defence and enabling capabilities. Entities must have a combined annual turnover of less than $20m for each of the three financial years prior to applying.
Funding: advisory services and invitation to grant funding. Grant funding is offered in two streams:
- $50,000 - $250,000 to support early-stage commercialisation projects.
- $100,000 - $5m for commercialisation and growth projects.
Timing: open now and ongoing. Applicants must apply for advisory services first before being invited to apply for grant funding. As of mid-January, there were more than 800 applications.
More information: https://www.grantthornton.com.au/insights/client-alerts/industry-growth-program-grants/
National: Coles Nurture Fund
While not a government grant program, the Coles Nurture Fund is an attractive opportunity for the nation’s agriculture and F&B businesses. Established in 2015, Coles has supported SME businesses in Australia’s food and grocery sector over 11 previous rounds. The fund supports businesses to develop new market-leading products, technologies, systems and processes. This program also has a short application window.
Who’s it for: SME businesses in the food and grocery sector (e.g. areas such as fresh produce, food processing, grocery, energy efficiency, logistics/transport, IT and packaging) with a project which is unique, drives innovation and provides outstanding sustainability benefits.
Funding: grants up to $500,000 (with no matched funding requirement).
Timing: Round 12 is open now and closes 23 February 2024.
More information: https://www.coles.com.au/about/sustainability/better-together/farmers-and-suppliers/coles-nurture-fund
Other grants
This is just a snapshot. If you have an upcoming investment project (e.g. manufacturing, life sciences, agri, green energy technologies, circular economy and recycling etc), connect with Simone Barker.
Tips for grants success
Grants can be an important component in businesses’ strategic planning to achieve their growth objectives, so it’s crucial to keep abreast of the constantly shifting landscape. Being prepared is critical so you don’t miss out on a grant opportunity.
- Get on the front foot – speak to a grants advisor before you start spending on your projects. Engage early to identify grant support that aligns with your strategic goals. Grant program guidelines are confusing can be difficult to know what an appropriate project is.
- Prepare, prepare, prepare – many competitive grant applications often open without warning and feature a short application period. Prepare documentation and get quotes ahead of time. Keep in mind that many grant deadlines often fall during holiday periods, and late applications are almost never accepted.
- Develop a rough budget – know your project: understand your key costs and estimated project spend. This information is often required to demonstrate program eligibility.
- Understand the policy landscape – know whether you’re operating in a priority industry sector. The worst way to find out is seeing your competitor receive a grant.
Connect with Simone Barker on Linkedin to keep on top of the evolving grants landscape.
Learn more about how our Government grants services can help you
