All eligible applicants can apply for a grant between $25,000 and $400,000. If you meet additional eligibility criteria, you can apply for a grant of Between $25,000 and $480,000.The grant amount will be up to 50% of eligible project costs.
The grants will be available on a co-contribution basis which means you have to match the total grant amount with your own funds (Not through finance funding).For instance, you applied for a grant for the amount of $ 100,000, if you are successful, you will be only provided with the amount of$50,000, other half is required to be funded by you.
The basic eligibility requirements are:
- Business must be majority owned and led by women – At least 51% of your business is owned by femalesand at least 51% of the founding team,all the senior members, senior managers are women.
- Have an ABN & Registered for GST
- Meets definition of startup – A startup is an early stage, innovative or disruptive business that is scalable and working on a new or novel product, service or has a different business model. This will require that you can identify that your product, service or your business model is new to the industry, new to Australia or new to the world and you have the capacity to scale into global and domestic markets.
- Have a project to launch or scale a product, software, application or develop a new disruptive technology.
In order to apply for this grant, you need to have an ongoing or upcoming project. Your project can include activities like but are not limited to:
- Developing software and apps
- Launching and scaling products
- Product development and marketing
- Purchase of equipment to enable growth and expansion to national and international markets
- Access to independent management (for example C-suite, advisory board)
- Access to relevant professional development
Now, this is a verycompetitive and merit-based grant. You’ll also need to address the Additional merit criteria along with basic eligibility requirement.
If your project relates to launching a new product, software or an app. It should be
- Be at least at technology level six (TRL6) – Projects that are at least at prototype stage and having done the Prototype demonstration in a real-world environment.
The grant funding is available for the eligible costs that are to be incurred on the project mentioned in the grant application only. Other projects of the business will not be covered by the grant funding. You need to make sure you Incurexpenses that are eligible and related to the project only after you have received signed funding agreement, that will be most likely to be done in November 2021.
Application process:
The application will be in two stages. Businesses, first, need to submit an expression of interestthrough the business.gov.au website.Thereafter you will be invited to apply for the grant if you are successful in EOI stage. The eligible and meritorious applicants will then be invited to submit a stage two application. Which, again, will be assessed and go to the committee to be recommended for funding.
Closing date:
Applications for Expression of interest (EOI)close 22 April 2021 at 5PM AEST.
What’s next
If this grant sound promising and you believe you meet the basic eligibility criteria and have an eligible project.You can ask us to put your expression of interest (EOI) application and we willget in touch with you to get more details and discuss the charges. We can help you prepare and submit your application.Now, we can’t guarantee you will be invited for the stage 2 application as this is very competitive grant.If you are invited, we will guide you on how you can maintain eligibility throughout the project and prepare any necessary documents that are required in the stage 2 grant application.