New Grant – Entrepreneurs’ Infrastructure Program
- The federal government has announced that it will phase in the commencement of the Entrepreneurs’ Infrastructure Program, progressively from 1 July 2014.
- The Entrepreneurs’ Infrastructure Program is designed to incorporate some of the aspects of the discontinued Enterprise Connect Program and the discontinued Commercialisation Australia Program.
- The programs to be offered by the Entrepreneurs’ Infrastructure Program include:
o Business Management
o Research Connections
o Commercialising Ideas
Business Management
- The business management stream helps CEOs and managers take time out to work on their business, rather than in their business.
- The program will be supported by advisors drawn from the private sector, who will encourage businesses to develop explicit plans for improvement and will be able to access limited funding to bring in additional specialists.
- The funding is 50/50 basis and up to $20,000 will be available, to engage external expertise to implement projects, recommended in the business evaluation.
- The government has indicated that the eligibility requirements will probably be as follows:
o The business must be operating for more than three years.
o The business must have sufficient turnover levels (not yet announced).
o The business must be operating in an eligible sector, which could include:
- Manufacturing;
- Resources;
- Infrastructure-related construction;
- Information technology and communications;
- Creative industries;
- Food processing;
- Medical and pharmaceutical;
- Energy and resource management;
- Professional services; and
- Freight, transport and logistics.
- Business Management is scheduled to commence from 1 July 2014.
Research Connections
- The government has indicated that this program is to assist businesses to understand the value of research and to give advice on how to engage a researcher, to assist with a program.
- The applicant must match funding of up to $50,000 to support the cost of bringing research capability into the business, for projects to be conducted over the next 3-12 months.
- Advice in accessing appropriate research advice from institutions.
- The government proposes to commence the Research Connections Program on 1 September 2014.
Commercialising Ideas
- The program will include a range of tailored commercialised services, designed to provide entrepreneurs and innovative businesses access to advice, connections and support, to enhance their prospects of commercial success.
- Matching funding of up to $250,000 is proposed, to assist businesses to progress the commercialisation of their new idea.
- The types of activities that could be funded include:
o The development of a business of commercialisation plan.
o An intellectual property protection strategy.
o Proof of concept work to establish the commercial viability of a new product or service, including prototyping.
o These activities could be undertaken over a period of up to two years.
