Seed-Start grants assist innovative early-stage South Australian start-ups with high-growth potential to commercialise products or services. Funding grants are up to $500k are delivered through the Government of South Australia’s Research and Innovation Fund (RIF).
Deadlines and Timings
Applications are open throughout the year with a maximum funding period of up to three (3) years.
The grants employ a two-stage process, beginning with a short expression of interest (EOI) application. If an EOI application is accepted, the applicant will be invited to submit a detailed full application.
Overview and Grant Amount
Seed-Start grants provide co-funding scheme to cover the costs of delivering a clearly defined projects that will generate significant benefits to South Australia. Seed-Start grants aim to benefit South Australia by:
- encouraging the establishment and growth of innovative young businesses in South Australia that build South Australian capability and capacity
- creating more jobs in South Australia, especially in skilled occupations
- increasing the number of young South Australian businesses raising private investment
- delivering economic and/or public benefits for South Australia
Seed-Start grants s offer two funding options:
- Seed grant — from $50,000 to $100,000 are available on a competitive 2:1 matched funding basis ($2 from grant to $1 from applicant). Grant funds are provided to an early-stage business to undertake a defined project that will overcome the initial challenges in getting their product or service into national and international markets. The project must be achievable within a 2-year time frame. This option has no royalty payments.
- Start grant — from over $100,000 to $500,000 are available on a competitive 1:1 matched funding basis ($1 from grant to $1 from applicant). Start Grants are designed to support businesses that have passed the early-seed stage with a product or service ready (or close to being ready) for commercialisation. The project must be achievable within a 3-year time frame. This option has 3% royalty payments. If no income has been earned after 10 years from the agreed project completion date, no repayment will be required.
Other Commonwealth and South Australian Government grants or investment sources will not be accepted as matched funding for the proposed project.
Eligibility and Criteria
To be eligible an applicant must:
- be a company incorporated in Australia with an active Australian Business Number (ABN)
- be a non-tax-exempt business
- be registered for Goods and Services Tax (GST)
- have an annual turnover of less than $1 million for each of the 3 financial years prior to the lodgement of the application — this includes the annual turnover for any Related Bodies Corporate
- be based or willing to be based in South Australia prior to commencing the project
Eligible expenditure for grant funding and matched funding includes the following activities and/or items that are critical for the delivery of the proposed project:
- salaries and consumables directly attributed or critical to the delivery of the project
- accessing specialist professional services
- access to and acquisition of specialist equipment, hardware, software, and service provider fees
- accessing or protecting intellectual property rights
- prototyping and development of a minimum viable product (MVP)
- scholarships, study tours, undertaking market research/testing and engaging with major customers and investors
- travel expenses for testing, market development of the product/service, capital raising and other partnership or investment opportunities
- data procurement and efforts to obtain regulatory approval
Ineligible expenditure includes, but is not limited to, the following ‘business as usual’ activities and/or items:
- rent or other property fees
- salaries for business founders unless these are essential to the execution of the proposed project (e.g., unique technical skills/knowledge)
- recruitment and procurement fees
- basic office supplies and equipment
- grant application cost, administration costs, or infrastructure levies
- payments to directors
- any other expenditure items determined by the South Australian Government as usual business operational costs
We have over 15 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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