New Grants

Two grants are now open under the South Australian Government, Creative Industries Program:
1. Tomorrow Start Grant
2. Tomorrow IP Grant

Tomorrow Start Grant offering $10,000 to start up Digital Media Businesses. This is a great opportunity to help startups with under $500k revenues and less than 3 years trading.

Closing date is 6 Oct 2009, 5.00 pm

Eligibility is limited to businesses that:
1. have been generating commercial revenue for less than three years to the date of application and can demonstrate earnings have not exceeded $500,000 in any financial year
2. have their main business location in South Australia and are non-tax exempt businesses
3. have an Australian Business Number (ABN)
4. are registered for GST
5. are primarily operating in the Digital Media Industry
6. are seeking commercial opportunities involving Digital Media
7. can provide a basic business plan addressing commercial viability
8. have not received other Commonwealth or State Government grant funding for the expenses outlined in the application

The grant is designed to assist with specific external expenses such as, but not limited to:
• the costs of obtaining IP advice
• legal costs of establishing a company or other business structure
• business planning expenses
• strategic purchases of software or hardware
• license or purchase of software developer kits
• market testing
• market research
• production of marketing materials

Tomorrow IP Grant offer assistance in the form of a taxable grant equivalent to 50% of the budgeted project costs up to a maximum grant of $100,000 (exclusive of GST). Payment will be in tranches with an initial payment to be made following the signing of a Funding Agreement.

Closing date is 6 Oct 2009, 5.00 pm

Eligibility is limited to businesses that:
1. either
a. have been earning revenue for more than three years to the date of application and are able to clearly demonstrate earnings of at least $250,000 in the last financial year.
– or –
b. have been formed by two or more businesses (at least one of which meets the condition 1a) for a purpose that is related to the project being proposed
2. have their registered office and main business location in South Australia and are non-tax exempt businesses
3. have an Australian Business Number (ABN)
4. are registered for GST
5. are offering products or services incorporating Digital Media
6. are developing or planning to develop strategic intellectual property relevant to the application of Digital Media in a commercial context
7. can provide a detailed formal business plan clearly addressing the commercial viability of the project
8. have not received other Commonwealth or State Government grant funding for the expenses outlined in the application

Two information sessions will be held in August – if you are interested in attending please see the contact information at the  Creative Industries Website

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