Develop your SME with grants and mentoring through the Industry Growth Program
By leveraging the resources and opportunities provided by the Industry Growth Program, small businesses can accelerate their growth, contribute to the economy, and position themselves for future success.
The Industry Growth Program contributes to developing Australia's industry and manufacturing capabilities by supporting businesses to develop, prototype and scale new innovations. Applications are now open.
About the Program
- The Industry Growth Program focuses on assisting innovative startups and SMEs in various stages of development.
- The program aims to help businesses develop and commercialize new products, processes, and services, with a focus on building manufacturing capabilities in priority areas identified by the National Reconstruction Fund (NRF).
- NRF priority areas include renewables and low emissions technologies, medical science, transport, agriculture, forestry, fisheries, resources, defense capability, and enabling capabilities.
Get Advice from Industry Growth Program Advisers
- SMEs should seek advice from Industry Growth Program Advisers. These advisers help businesses develop and commercialize their innovations.
- The advice provided assists businesses in scaling up and transforming their operations to bring innovative products and services to market.
Matched Funding Grants
After receiving advice from the Industry Growth Program Advisers, businesses can apply for matched funding grants.
There are two types of grants available:
- Early-stage commercialization grants: Ranging from $50,000 to $250,000 for projects at the feasibility, proof-of-concept, or prototype stage. The grants can be used for projects and business activities that help your business establish the commercial viability of innovative products, processes or service.
- Commercialization and growth grants: Ranging from $100,000 to $5 million for projects from prototype through to market readiness stage. Activities include may include developing strategies for entering the market, accelerating growth and/or scaling up into national and international markets.
Eligibility and Assessment
- Grant applications are assessed based on merit by an independent assessment committee.
- Eligible projects are those that contribute to commercialization or growth in the NRF priority areas.
Program Benefits
The program helps businesses:
- Commercialize ideas into new products, processes, and services.
- Improve engagement in national and international markets.
- Better position themselves for future investments and scaling opportunities, including through the NRF.
Supporting Businesses
- Industry Growth Program Advisers provide tailored advice.
- Industry Partner Organizations offer specialist sectorial expertise, advice, and services to participating businesses.
Application Process
- Start by seeking advice from Industry Growth Program Advisers.
- Based on the advice received, decide on the grant to apply for.
- Submit an application for the matched funding grant.
Future Opportunities
- Participation in the program can better position businesses to seek future investment and scaling opportunities, including those offered by the NRF.
