The Ignite Ideas Fund is now open for application under the Queensland Government’s Advance Queensland Grant programme.
The Ignite Ideas Fund provides up to $250k of funding to support activities that prove your business idea will work or to assist with identifying a market or investor for your product, process or service.
The Ignite Ideas fund aims to:
- increase commercialisation rates of Queensland ideas
- create high-value knowledge intensive jobs
- secure new investment
- form new collaborative partnerships
- increase exports
- increase business investment in R&D
- increase levels of business innovation
Who can apply?
You must be a Queensland based organisation and:
- have less than 200 full time staff
- be GST registered
- have a product, process or service which is at, or beyond, minimum viable product/working prototype stage
- have an innovative, unique or new product, process or service with the potential to achieve high growth
- have identified customer(s), industry partner(s) or investor(s)
What is the funding amount available?
- Tier One – up to $100,000 (ex GST) per project. Matched funding.
- Tier Two – up to $250,000 (ex GST) per project. Matched funding.
The following table outlines the required cash contribution for applicants – according to size of organisation:
|Tier One – up to $100,000||Tier Two – $100,000 up to $250,000|
|Organisation size (FTEs)||Matched funding contribution from applicant|
|Small (5 – 19)||
|Medium (20 – 199)||
- Tier One project activities must be completed within 12 months.
- Tier Two project activities must be completed within 24 months.
You will be assessed on the:
- innovation and market potential of your project
- project feasibility, budget and timeframes
- technical and management feasibility
- anticipated outcomes for Queensland.
How to apply.
You must provide:
- evidence of ability to meet matched funding
- provide evidence of a formal agreement with the third party for the provision of the cash contribution (if applicable)
- a project budget
- a project plan
- a project team profile (CV)
- a project slide deck
- evidence of an identified customer, industry partner or investor
All Tier Two applicants must also provide accountant prepared financial statements for the previous two financial years.
Applications close 5pm on 12 October 2016.
How many funding rounds will there be?
The program will have quarterly funding rounds which are scheduled to run for three years or until all program funding is expended.
Want to get the best possible result out of your Application?
Working with Treadstone means you get the maximum rebate you are entitled to with minimum risk and effort. We provide expert advice and take care of your application, allowing you to continue to focus on your essential business operations. Treadstone are an experienced, outcome focused team with a proven track record of success. To ensure you have the best chance of getting grant funding contact us or call 03 9008 5937.