Small business grants are funding programs that provide businesses and startups with much-needed capital to help build, accelerate growth, commercialize and expand their products in local markets and overseas.
Here are some of the best regional and federal government grants available now and all through 2023:
The Entrepreneur’s Programme is part of the Federal Government National Innovation and Science Agenda. The program is available all year round and comprises access to unique services including guidance from experts to help you progress through your goals, financial support and a podcast for entrepreneurs. Funding of up to $1 million is available to help startups and small businesses innovate, grow and compete in the market.
How much funding can I get?
A number of initiatives are available all year round including:
- High Growth Accelerator: If successful, this service gives you access to an independent facilitator for up to 2 years. They’ll work with you to develop a growth plan to help you realise an Australian and/or overseas growth opportunity. They’ll then mentor you as you action your plan.
Apply for High Growth Accelerator Grant
- Growth Grant: For businesses that are part of the High Growth Accelerator funding of between $2500 (ex GST) and $20,000 (ex GST), covering up to 50% of eligible project costs may be granted to help execute the growth roadmap.
Apply for Growth Grant
Austrade Landing Pad
The Austrade Landing Pad provides specialised support for Australian tech startups who are market ready and seeking to take their business globally. Startups receive support to validate their go to market strategies as well as introductions and connections in those markets. These programs are delivered in collaboration with partners deeply embedded in their local tech ecosystems.
The Landing Pads are located in San Francisco, New York, Bengaluru, Shanghai, Singapore, London and Tel Aviv. The Landing Pads in London, New York and Singapore include a focus on fintech and related sectors.
The Landing Pad in Bengaluru, established in 2022, is part of the Government’s commitment to expanding technology business links with India, under the India Economic Strategy.
Apply for Austrade Landing Pad
This grant provides startups and small businesses with up to $1 million in project funding to commercialise a novel product, process or service. Eligible applicants need to be exploring commercialisation opportunities in different states or territories from their state of business.
Accelerating Commercialisation has 2 key stages:
- guidance stage, which connects you with a facilitator
- grant stage, to fund your commercialisation project.
How much funding can I get?
Business payments worth up to 50% of their expenditure on a given project, which is capped at $500,000 for commercialisation offices and eligible partner entities, and $1 million for other applicants. The minimum grant amount is $50,000.
Applications are now open. Find out more or register using the link below:
Apply for Accelerating Commercialisation Grant
Grants in Australia by State
- Innovation Connect Grant: ICON offers eligible early stage innovative entrepreneurs and Australian Capital Territory startups matched-funded grants between $10,000 – $30,000 to kick-start their growth journey.
- MVP Grant: Early stage New South Wales startups may receive up to $200,000 towards building a minimum viable product. 50% matching funding is required.
- Local Innovation Network (LIN): Regional recipients of the MVP grant may claim up to $2,000 towards travel expenses related to their innovation.
- South Australia Venture Capital Fund: SAVCF provides funding to high growth and export ready South Australian startups that have at least demonstrated a market for their product or service and have either commenced generating revenue or can demonstrate customer validation and evidence a route to revenue generation. At least 50% matching funding is required.
- Open Grants via Advance Queensland: A number of grants, programs and funding options are available for Queensland startups, entrepreneurs and small business through Advance Queensland.
- Business Growth Program: The program helps businesses in the Northern Territory access professional services to improve their performance, sustainability and profitability. It also provides mentoring and coaching support.
- New Industries Fund: A $16.7 million initiative to support and accelerate new and emerging Western Australian businesses. There are a number of programs you can explore. Keep an eye out for City of Perth grants as they become available.
- Business Growth Loan Scheme: The $60 million Business Growth Loan Scheme provides loans between $100,000 and $3 million to assist Tasmanian businesses to develop, expand or undertake new projects that promote growth in the Tasmanian economy. The scheme will open for applications until 5pm, 14 September 2023 or until all funding has been utilised, whichever occurs first.