The newly launched Sector Growth Program offers funding for collaborative projects with SME’s designed to support one of the Future Industries Fund sectors that have been developed by the Victorian Government. Matching funding up to $1m will be available with $100k for scoping, planning and feasibility.
Specifically, projects that will drive growth, encourage collaboration, leverage co-investment, create new local jobs and offer value for money.
There are two streams:
Stream 1: Scoping, Planning and Feasibility $100k
Studies directed at identifying opportunities and that offer potential for growth of Victorian businesses. Projects are expected to improve applicants’ and the broader sectors’ knowledge and understanding of opportunities for growth and improved productivity. Relevant activities may include: road mapping, supply chain analysis, sector capability audits, economic impact analyses, feasibility studies, sector opportunity analysis, or pathway to market strategy. Projects are to be completed within six (6) months of the negotiation of a suitable grant agreement.
Stream 2: Project Implementation $1m
Projects that enhance the applicants’ and the sectors’ growth, productivity and competitiveness. Relevant activities may include: shared infrastructure solutions, piloting new technologies, such as demonstration plant/equipment, or establishing consolidated industry capability. Projects are to be completed within two (2) years of the negotiation of a suitable grant agreement.
What is the funding amount available?
Stream 1. Grants of up to $100k for scoping and planning activities such as feasibility studies.
Stream 2. Grants of up to $1m for project implementation activities such as piloting new technologies.
All funding must be matched by a minimum cash co-contribution of $1 for every $1 funded.
How to apply.
Step 1. Read the guidelines and determine project suitability.
Step 2. Complete online application.
Stream 1. Clearly and succinctly describe the project, its objectives, expected outcomes and be accompanied by a project plan, budget, list of consortium members, letters of support from all consortium members, and brief CVs of key personnel.
Stream 2. Staged process. Firstly, submit an EOI for assessment clearly and succinctly describing the project, its objectives, expected outcomes, any infrastructure requirements and be accompanied by a project overview, budget, a list of consortium members, and a completed scoping, planning or feasibility study, sectoral or market research analysis. Eligible projects will be invited to submit a detailed business case.
Merit criteria.
Applications for both streams must involve consortia, with each consortium comprising at least three members, including at least one Victorian small or medium enterprise (employing up to 200 full time equivalent employees) and meet co-contribution requirements.
Applications will be assessed against the following criteria:
- alignment with sector strategies and demonstrated project need;
- direct economic development benefits;
- indirect economic development benefits;
- social and environment benefits;
- demonstrated project feasibility and delivery;
- financial viability; and
- value to the State.
Applications for Stream 1 will be assessed against the potential job and economic impact targets that may be achieved from the implementation of the scoping, planning or feasibility project.
Applications for Stream 2 will be assessed against actual job and economic impact targets to be achieved from the implementation project.
Deadline/Closing Date
Funding is open for applications at any time.
Stream 1 will be assessed every 2 months and stream 2 EOIs will be assessed monthly with business cases assessed every 4 months.
How 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.
