Grants of up to $200,000 (excluding GST) are available to enable Queensland businesses to take highly innovative new products, processes or services that have reached minimum viable product stage or beyond, into the market for the first time, or into new markets.
What is the funding for?
Ignite Ideas Fund projects should focus on activities that commercialise a new product, process or service that fall within the following eligible cost categories:
- salaries of project staff (including salary-related on-costs)
- services provided by (unrelated) external parties
- consumables and equipment
- travel, accommodation and subsistence costs.
It is expected that all Ignite Ideas funding will be expended in Queensland, unless interstate/ international expenditure is essential to ensure successful delivery of the project.
Costs not eligible for Ignite Ideas funding include:
- capital works and/or physical infrastructure including any buildings, telecommunications and IT networks
- items of equipment costing more than $10,000
- employee allowances, bonuses and fringe benefits
- conference fees
- entertainment costs
- ongoing compliance fees and licences
- inventory and warehousing costs.
Ignite Ideas Fund projects should not include the following activities:
- business as usual or general operation of the applicant organisation
- development of a prototype
- distribution other than to send samples for market/ customer acceptance testing
- distribution, purchase or import of existing products or technology without significant adaptation
- activities involving liquor, gambling, tobacco, adult services and illicit substances.
Eligibility – who can access this grant?
To be eligible for funding, applicant organisations must:
- be a business or startup organisation and be registered for GST
- be headquartered in Queensland
- have no more than 50 full time equivalent employees
Applicants to Tier 1 must:
- not have received an Ignite Ideas Fund grant previously
- make a cash contribution to the project that is at least equal to 20% of the value of the grant funding sought.
Applicants to Tier 2 must:
- have been trading for a minimum of two years
- not have received an Ignite Ideas Fund Tier 2 grant previously
- have successfully completed any project funded under Tier 1 of the Ignite Ideas Fund (if relevant)
- make a cash contribution to the project that is at least equal to the value of the grant funding sought.
How do I apply?
The Ignite Ideas Fund has a two-stage application process:
Expression of Interest applications will close on Thursday 7 July 2022 at 10.00am (AEST) sharp. Late applications will not be accepted.
Treadstone experts can help you understand government grants and maximise the benefits for your business. We have been helping clients since 2008 and our clients can testify to our proven success record. 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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