Innovation Connect Grant – Australia

The program supports the thriving startup culture in Canberra and the surrounding region and empowers entrepreneurs to develop and grow their innovative ideas. The program seeks to complement existing funding opportunities and programs.

Objectives

The objectives of the program are to:

• Support innovative, entrepreneurial ideas to a market ready position, including market testing.
• Fund projects that prove the technical or commercial feasibility of a concept.
• Support the development of product prototype or functional software.
• Assist with development and testing of effective marketing approaches, and with legal, IP and patenting advice.
• Encourage growth and maturation of start-ups at the pre-seed stage in Canberra.
• Position Canberra and the surrounding region as a supportive ecosystem for innovation.

Grants Available

• The ACT Government has committed a total of $500,000 (GST exclusive) over the 2023/24 financial year for Innovation Connect. In the financial year, there will be a maximum of 2 funding rounds.
  • The minimum grant amount is $10,000.00 (ten thousand dollars) GST exclusive.
  • The maximum grant amount is $30,000.00 (thirty thousand dollars) GST exclusive.
• Grant periods are typically between 3 and 18 months, however, longer grant periods may be accepted in some circumstances.

Eligible Grant Activities

• You can spend the grant on products and services that are based outside of the Australian Capital Territory.
• A grant recipient may use the grant funding for the following activities:
  • Product development
  • Resources and consumables specific to the project activities
  • Development of marketing plans and strategies (excluding advertising costs and content)
  • Website development or upgrades
  • Staff wages and salaries specific to the project activities
  • Technical feasibility testing
  • Market testing and customer validation exercises

Eligibility Requirements

• To be eligible you must meet all the below criteria:
  • Have an Australian Business Number (ABN) at the time of signing the Funding Agreement and be registered for the Goods and Services Tax (GST) if applicable.
  • Be turning over less than $2 million in annual revenue or be pre-revenue.
  • Have your registered office and principal place of business be in the Australian Capital Territory or surrounding region or have a business that is primarily focussed in the Australian Capital Territory.
• You are not eligible to apply if you are:
  • A Commonwealth, state, territory or local government agency or body (including government business enterprises).
  • A member of the independent panel for the current Innovation Connect grant round.

For more information, visit ACT Government.