The Industry R&D Infrastructure Fund has a budget allocation of $15m will provide grants of up to $2 million in the quest of the Victorian government to support investment and innovation that facilitates sustainable job creation and drives long-term growth for the state. The grants will support new infrastructure and sophisticated equipment such as measurement instruments, testing equipment, imaging and sensing technologies, and clean room facilities and will be open to businesses that perform R&D as part of their operations, including R&D service providers.
Deadlines and Timings
Submissions for expressions of interest (EOI) are now open and will close on 18 August 2023.
Following assessment of EOI applications, the successful applicants will be invited to submit a detailed project plan as part of the formal application submission.
Projects will be expected to commence within 90 days. Successful applicants will ideally complete the project activities within 12 months of the date of the grant agreement.
Overview and Grant Amount
The Industry R&D Infrastructure Fund will incentivise Victorian companies to make new investments in new or enhanced R&D infrastructure to support the growth of Victoria’s R&D capability across key industry sectors and further business expenditure on R&D.
The benefits created by the funding can be to a business, or to an industry, or to both, but must be able to show how the project will increase Victoria’s business expenditure on R&D in the medium to longer term in the following priority industries.
- new energy technologies, including wind, hydrogen, solar and batteries
- health technologies, including medtech, biotech, pharma and consumer healthcare
- food manufacturing and agriculture
- defence, aerospace and space
- digital and advanced technologies, including advanced materials, robotics, AI (Artificial Intelligence), 3D-printing, and quantum technologies
Projects aligned to other industry sectors may also apply for funding. The program provides grants of up to 50% of eligible project expenditure with all grants requiring a minimum 1:1 co-contribution from the applicant. The minimum grant amount is $250,000 (excluding GST) and the maximum grant amount is up to $2 million (excluding GST) to eligible businesses in Victoria.
Eligibility and Criteria
To be eligible the organisation must:
- be a business operating in Victoria with an Australian Business Number (ABN)
- employ at least 20 FTE (full-time equivalent) staff or have an annual turnover between $1.5 to $100 million
- agree to meet all industrial relations obligations as an employer, in accordance with the National Employment Standards
- agree to adhere to and enforce Victoria’s Climate Change Act 2017, the Fair Jobs Code (2018), the Local Jobs First Policy (2018) and Gender Equality Act (2020)
- demonstrate why government funding is necessary to achieve the project outcomes or would lead to improved outcomes
Applicants must clearly demonstrate how funding will support further growth in business expenditure on R&D. Funded projects will be expected to deliver on the program objectives and priority industries.
Funding will support the purchase and commissioning of capital equipment (recorded as fixed assets in the applicant’s accounting and tax asset registers). Associated project expenditure related to construction or outfitting of buildings to enable R&D activities including those targeting process improvements, prototyping, evaluation and testing of new products and processes will also be considered.
Eligible project expenditure includes the following activities:
- capital expenditure (e.g., testing or specialised machinery, equipment and technology)
- capital expenditure incurred to construct a building or part of a building
- building costs associated with an extension alteration or improvement to a building
- training of staff specific to the installation or operation of the new R&D infrastructure
- labour and contractor expenses related to installation and commissioning of equipment or facilities
- accreditation expenses associated with equipment and/or facilities being assessed and granted industry-relevant standards (e.g., ISO standards)
Eligible project expenditure must be:
- incurred by the grant recipient within 12 months of execution of the grant agreement
- a direct cost of the project, and
- exclusive of the Goods and Services Tax (GST)
Some typical projects might include:
- businesses may apply seeking to establish a new or expanded R&D infrastructure within their own business to deliver process improvements, prototyping, evaluation and testing of their own products and processes
- service providers that specialise in providing R&D services to support the establishment of new or expanded R&D infrastructure intended to be accessible to sector clients
- business that are part of a consortium with partners, including public sector organisations. The supported infrastructure could be established within either the lead applicant or partner organisations
We have over 14 years of experience preparing EMDG and R&D tax incentive claims and can assist in making sure you receive your maximum rebate.
Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
Get in touch with us and let’s discuss this more in detail.
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