Does your business need a funding boost in order to get off the ground or tackle overseas markets?
Yesterday we rounded up the best federal government grants for your business but there’s more.
There are also a large number of state and territory government grants available to SMEs, however the problem is finding out which one is right for you.
With this in mind, SmartCompany has rounded up the best state and territory government grants for your small business.
Minimum Viable Product program
How much? Up to $15,000.
How does it work? This grant aims to connect small to medium businesses that are looking to create an innovative business-to-business solution.
The grant is aimed at businesses looking to streamline particular processes in health, manufacturing, energy, education, transport and logistics. This could be through mobile and cloud technologies, or other means.
Successful applicants should be able to demonstrate how their business will add value to the NSW economy.
Applications are currently open and more information can be found here.
Tech Vouchers
How much? Up to $15,000.
How does it work? This grant is designed to give SMEs the opportunity to access technical expertise – such as testing and studies – through universities or other research organisations.
The aim is to give businesses who have never worked with a university the opportunity to collaborate with a research institution for the first time.
In order to be eligible, companies must have fewer than 200 employees and turnover less than $30 million per year.
Applications are currently open and more information can be found here.
Regional Industries Investment Fund
How much? The NSW state government set aside $20 million for the fund in their 2015-16 budget.
How does it work? The Regional Industries Investment Fund is designed to drive economic growth in regional NSW.
While local councils and infrastructure providers are encouraged to apply, small businesses are also allowed to dip into the fund. SMEs can secure funding if they are starting up in a regional area or if they relocate from interstate and can demonstrate that a significant number of new jobs will be created.
Applications will be assessed on a case-by-case basis by the NSW Trade & Investment office. Applications are currently open and more information can be found here.
Collaborative Solutions program
How much? Up to $100,000.
How does it work? This grant aims to cover up to 25% of project costs for businesses developing an innovative, B2B solution in collaboration with other organisations.
The grant is similar to the Minimal Viable Product program, however in order to apply there needs to be at least three parties working together – a technology SME to develop the product, a pilot business customer to test the product, and at least one partner organisation that will provide additional technology or research capabilities.
Applications are currently open and more information can be found here.
Small Business Success Map program
How much? Up to $10,000.
How does it work? This grant is designed to support SMEs with growth ambitions.
The grant contributes to the cost of an independent business planning specialist. In order to be eligible, companies must employ between five and 50 staff and be financially viable.
Applications are currently open and more information can be found here.
Grow Your Business program
How much? Between $4000 and $15,000.
How does it work? There are a number of grants available to SMEs under the Victorian government’s Grow Your Business program.
The grants are designed to help business owners and entrepreneurs become internationally competitive by contributing to the costs of mentoring and networking programs.
Applications are currently open and more information can be found here.
Young Farmers Scholarship program
How much? $5000.
How does it work? This grant provides young farmers with up to $5000 towards training or study, along with a further $5000 to invest in their farm or further professional development once they complete the initial training.
The program is designed to give farmers under the age of 35 new skills and their business a much-needed leg-up.
Applications are currently open and more information can be found here.
Victorian Government Technology Innovation Fund
How much? Between $50,000 and $350,000.
How does it work? This grant supports the development and trial of new technology projects that will help make government more efficient.
In order to be eligible, businesses need to pitch a technology solution and show how it will positively impact the state’s productivity.
Applications are currently open and more information can be found here.
Accelerate Ideas fund
How much? Between $25,000 and $50,000.
How does it work? This fund aims to boost collaboration between researchers and industry in order to create projects that contribute to job creation and provide potential investment opportunities.
Participants must be businesses based in Queensland and willing to collaborate with a publicly-funded research organisation in order to better understand potential customers and supply chains.
Applications must be received by 30 November and more information can be found here.
Startup Queensland funding
How much? Up to $25,000.
How does it work? Last year the Queensland government set aside $300,000 in funding to help businesses deliver information, training and networking opportunities to businesses just starting out.
The money is designed to cover half of the travel and workshop costs and has been renewed until June 2016.
Applications are currently open and more information can be found here.
ACT
Innovation Connect
How much? Between $5000 to $50,000 in matched funding, depending on the project.
How does it work? This grant program is designed to help Canberra businesses develop new and innovative products and services. There is a particular focus on projects that will encourage investment or have the potential for commercialisation.
Applications are currently open and more information can be found here.
Trade Connect program
How much? Up to $15,000 per financial year.
How does it work? This grant is aimed at helping businesses in the ACT prepare for exporting opportunities through trade show participation, market research, mentoring and the development of advertising material.
In order to be eligible, businesses must have an annual turnover of less than $10 million and have developed products that are ready to be exported.
Applications are currently open and more information can be found here.
Business Improvement grant
How much? Up to $5000.
How does it work? This grant is designed to help businesses implement recommendations from an experienced business advisor.
In order to be eligible, all funds provided need to be matched dollar-for-dollar by the business.
Applications are currently open and more information can be found here.
Export Partnership program
How much? Up to $50,000.
How does it work? This program is about helping small and medium businesses tackle international markets.
The state government will match a successful applicant’s investment towards researching overseas markets and participating in trade missions.
Applications are currently open and more information can be found here.
Innovation Voucher program
How much? Between $10,000 and $50,000.
How does it work? This grant is designed to encourage collaboration between SMEs and research and development organisations.
The fund is part of the South Australian government’s plan to encourage greater innovation in the manufacturing sector and fuel job creation in other industries. The money goes towards technical research and prototype testing.
Applications are ongoing and more information can be found here.
Small Business Jobs Bonus
How much? $1000.
How does it work? This grant is designed to reward small business for creating jobs.
In order to be eligible, businesses must have created new job businesses between 1 July 2014 and 30 June 2015.
Applications are open six months after the job has been filled and more information can be found here.
Tasmanian Jobs Program
How much? $6500.
How does it work? This grant is a once-off payment to businesses that have hired a job seeker for a full-time position.
The grant is available to the employer at the end of the six months that a job seeker has been employed full-time with the business.
More information can be found here.
Business Innovation Support Initiatives
How much? Up to $25,000.
How does it work? The program is designed to help business people in the NT commercialise solutions to everyday problems.
There is a particular focus on the areas of science, engineering, technology and design.
Applications close on 18 August and more information can be found here.
Indigenous Business Development program
How much? Between $1000 and $30,000.
How does it work? The grant assists Aboriginal and Torres Strait Islander people to start a business or expand their existing enterprise.
Funding is available to assist with the purchase of office equipment, website development and mentoring.
Applications are now open and more information can be found here.
Regional Events Scheme
How much? Up to $50,000.
How does it work? This grant is administered by Tourism WA and aims to help raise the profile of the state as a tourist destination.
Funding is available for business conferences, exhibitions and trade shows.
Applications open in October and more information can be found here.
Broede Carmody is a former senior SmartCompany reporter. Before this, he was a co-editor of RMIT University’s student magazine Catalyst.
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