Business Incubators will be supported to develop the international market prospects and capabilities of start-ups.
Grants are available to support the establishment of new incubators in regions or sectors with high innovation potential, and for existing incubators looking to expand their services. Funded incubators will deliver a range of activities designed to improve the prospects of commercial success of innovative start-ups, allowing them to realise their economic potential faster than they otherwise would. The initiative supports entrepreneurial activity and contributes to the development of the innovation ecosystem, including in Australia’s regions.
The Incubator Support initiative provides grant funding through two components to deliver Incubator Support projects, both of which require a funding contribution from applicants.
- Support for New and Existing Incubators:
- to help develop new incubators in regional areas and/or sectors with high potential for success in international trade
- to boost the effectiveness of high performing incubators, including funding support to expand their services and/or develop the innovation ecosystem
- to encourage incubators to work with more data-driven start-ups that use public data as part of their business.
This component allows for a minimum grant amount of $26,000 and a maximum grant amount of $500,000 per project with a maximum grant period of 24 months.
- Support for Expert-in-Residence:
- to increase the capabilities of incubators and improve the chance of commercial success for start-ups in international markets by organising and providing access to top quality research, managerial and technical talent through incoming and outgoing secondments of national or international experts.
This component allows for a minimum grant amount of $5,000 and a maximum grant amount of $100,000 per project with a maximum grant period of 12 months.
New and existing business incubators.