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With increasing inflationary pressures, government grants can be an essential alternative funding source for businesses with critical investment projects.
Some notable grants closing soon include:
There are two elections on the horizon in 2025: the Western Australian state election (March 2025) and Federal Election (any time between now and May 2025). If you are seeking government funding from these jurisdictions, there may be some challenges to navigate.
With 2025 being a federal election year, federal government programs might be delayed or closed depending on the election outcome. Despite this uncertainty, current available grant programs are offering generous funding opportunities – particularly if you have a project within a priority sector aligned with the Future Made in Australia mission. If you are seeking federal funding in 2025, it’s worthwhile carefully considering your business needs against the external funding environment.
Aim: To help SMEs undertake innovative commercialisation and/or growth projects within the priority areas of the Australian Government’s National Reconstruction Fund (NRF), thereby building Australia's manufacturing capability for the future.
Timing: Ongoing – but may be impacted by 2025 Federal election. Apply now.
Funding:
Eligible Projects:
Target Industries:
Full information: https://business.gov.au/grants-and-programs/industry-growth-program
Aim: To support consortia in developing quantum technology solutions or components that address critical challenges in biosecurity, health, transport, and energy networks.
Timing: Open now, closing 26 February 2025
Funding Available:
Eligible Projects:
Target Applicants: Consortia that include at least one Australian industry-based partner and one Australian research organisation.
Full information: https://business.gov.au/grants-and-programs/critical-technologies-challenge-program-round-2
Aim: To support joint projects between Australian and Indo-Pacific organizations that enhance the resilience and efficiency of solar PV, hydrogen electrolyser, and battery supply chains.
Timing: Open now, closing 10 February 2025
Funding Available: Grants between $100,000 to $2.5m, covering up to 95 per cent of eligible expenditure.
Eligible Projects:
Target Applicants: Australian businesses partnering with eligible Indo-Pacific organisations.
Full Information: https://business.gov.au/grants-and-programs/quad-clean-energy-supply-chain-diversification-program
Aim: To support SMEs in developing and delivering programs aligned with the Sovereign Defence Industrial Priorities (SDIPs) described in the Defence Industry Development Strategy.
Sovereign Industrial Priorities Stream – batch closing 28 February 2025
Skilling Stream – batch closing 31 January 2025
Exports Stream – batch closing 31 January 2025
Security Stream – batch closing 28 February 2025
Full Information: https://business.gov.au/grants-and-programs/defence-industry-development-grants-program
Aim: To invest in research infrastructure that ensures Australian researchers can find innovative solutions to complex health problems.
Timing: Open now, closing 31 March 2025
Funding & Eligible Projects:
Full Information: https://business.gov.au/grants-and-programs/mrff-2024-national-critical-research-infrastructure-initiative
After a major funding allocation from the 2024-25 Federal Budget, the Australian Renewable Energy Agency offers grant funding towards renewable energy projects spanning the entire innovation chain. Some notable programs include the Solar Sunshot program and the soon to open Battery Breakthrough Initiative.
Solar Sunshot
Aim: To drive innovation in solar PV manufacturing, strengthen supply chains, and support Australia's transition to a renewable energy future.
Timing:
Funding and Eligible Projects: Up to $1b total funding allocation
Battery Breakthrough Initiative
Aim: To commercialise battery manufacturing technology and processes, provide clean energy opportunities for Australia’s workforce, and enhance supply chain resilience.
Timing: Opening January 2025
Funding: $2m to $200m. The total funding pool is $532m.
Eligible Projects:
Full information: https://arena.gov.au/funding
Following a lengthy pause and a refreshed Regional Development Roadmap, NSW has released a new major regional grant program, focused on projects that benefit regional and rural communities.
Assessment of applications to a key clean energy grant program, the Net Zero Manufacturing Initiative, is ongoing. We’re excited to see successful applicants announced, and opportunities for future rounds under this program.
Aim: To support projects that enhance regional economic growth, community connection, and capacity building, aligned with the Regional Development Trust’s key focus areas.
Timing: Open now, Closing 20 February 2025
Funding Available: Grants between $250,000 to $5,000,000.
Eligible Projects:
Target Applicants:
Target Engine and Emerging Industries:
Full Information: https://www.nsw.gov.au/grants-and-funding/regional-economic-development-and-community-investment-program
Western Australia is also heading to the polls in early March 2025. As the state gears up towards its election, one final grant program is on offer.
Aim: To fund feasibility studies, pilot projects, and capital works that help avoid, reduce, or offset carbon emissions from heavy industry processes, focusing on innovative technologies for carbon abatement and sequestration.
Timing: Closing 28 February 2025
Funding Available:
Eligible Projects:
Target Applicants: Western Australian heavy industries and organisations involved in carbon reduction initiatives.
Full Information: https://www.wa.gov.au/service/community-services/grants-and-subsidies/carbon-innovation-grants-program
The new state government has announced continuing support into the legacy Made in Queensland grant program, supporting the state’s small to medium-sized manufacturers.
Continuing funding programs such as the Industry Partnership Program and Invested in Queensland schemes are also available for larger investment projects with long-term economic benefits to the state.
Aim: To assist SME manufacturers to increase international competitiveness, productivity, and innovation via the adoption of new technologies, and to generate high-skilled jobs for the future.
Timing: Open now, closing 24 January 2025
Funding Available: Grants between $50k to $2.5m (1:1 co-contribution basis). Total funding pool of $20m.
Eligible Projects:
Target Applicants: Small to medium sized Queensland manufacturers
Full information: https://www.business.qld.gov.au/industries/manufacturing-retail/manufacturing/grant-programs/made-in-queensland
From time to time, other industry grants (not offered by a government body) are also available. For example, 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 12 previous rounds.
Aim: supports businesses to develop new market-leading products, technologies, systems and processes; drive innovative and sustainable practices, differentiation, extended growing seasons and reduce imports.
Timing: Opens 20 January 2025 and closing 14 February 2025
Funding Available: Grants up to $500,000 (with no matched funding requirement).
Eligible Projects: Unique project, driving innovative and sustainable practices and provides sustainability benefits.
Target Applicants: SME businesses (turnover less than $25m and fewer than 50 FTE) in the food and grocery sector (e.g. areas such as fresh produce, food processing, grocery, energy efficiency, logistics/transport, IT and packaging)
Full information: https://www.coles.com.au/about/sustainability/better-together/farmers-and-suppliers/coles-nurture-fund
There are thousands of government grant programs open at any one point, and we’ve only listed a handful of them. If any of these programs are of interest, please contact us to discuss.
The grant landscape is constantly shifting, impacted by political cycles, government budgets, program timelines and different priority focuses. To maximise your chances of success, it’s crucial to understand which grant program best matches your business needs, thereby focusing your time and energy.
At Grant Thornton, we support small, mid-sized and large businesses to understand and access government grant funding matched to your business growth strategy. There may be specific opportunities if your investment projects fall within priority sectors such as agriculture, defence, energy, food & beverage, health, medtech and life sciences, mining, renewables and low emissions technologies, resources and critical minerals, or space.
If you have an investment project and are looking for other government funding, please reach out to us for a no-obligation discussion. Connect with Simone Barker on LinkedIn to keep on top of the evolving grants landscape.
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