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Future Industries Sector Growth Program

Up to $1 million available to undertake Victorian based projects aligned with the Future Industries Sector Strategies.

Program Overview

Grants of up to $1 million are available to undertake Victorian based projects aligned with the Future Industries Sector Strategies, that will create new jobs and drive growth, productivity and competitiveness of Victorian businesses.

Read the Sector Growth Program Guidelines (PDF 98.04 KB)PDF icon.

At a glance

Value

Grants of up to $1 million are available.

Eligibility

A number of eligibility criteria are required to be met including criteria applicable to the consortium applying and co-contribution requirements. Details of the eligibility criteria are in the Sector Growth Program Guidelines (PDF 98.04 KB)PDF icon.

To get the best results, contact a Victorian Government representative through your local Victorian Government Business Office. For contact details, please call Business Victoria on 13 22 15.

 

Eligibility criteria

To be eligible for funding under the Sector Growth Program the application must be submitted on behalf of a consortium of organisations. Each consortium must:
  • comprise at least three organisations, including a lead applicant organisation, whose principal place of business is in Victoria or with a significant business presence in Victoria
  • include at least one Victorian Small or Medium Enterprise (SME) employing up to 200 full time equivalent (FTE) employees
  • be able, as a consortium, to meet the co-contribution requirements.

For further information on the eligibility criteria, read the Sector Growth Program Guidelines (PDF 98.04 KB)PDF icon.

Lead Applicant

Each application must be submitted by a lead applicant organisation, which must:
  • be an incorporated entity (for example, a company) with an Australian Company Number (ACN), be registered for GST purposes and have an Australian Business Number (ABN)
  • have its principal place of business in Victoria or have a significant business presence in Victoria
  • have sufficient dedicated resources to manage the grant and coordinate the participation of the other consortium members
  • be authorised to lead and facilitate activities supported by the grant on behalf of the other consortium members
  • be willing and able to provide financial reports for up to the last three financial years for risk assessment purposes
  • be clearly accountable for the achievement of economic impact and jobs targets as part of a funded project.

Consortium Members

Consortia are encouraged to include a diverse range of organisations and can include:
  • private sector businesses
  • not for profit organisations, such as educational or health institutions, that are an incorporated body, cooperative or association (including business and industry groups), and have an Australian Business Number (ABN)
  • Victorian local government authorities
  • Victorian public sector agencies.

Future Industries Sector Strategies

The Future Industries Fund has been created to focus on developing key high growth, high value industry sectors to further enhance Victoria’s competitive advantage by building on existing strengths in each industry sector.

Sector strategies have been developed to support these growth areas including the following:

  • Medical Technologies and Pharmaceuticals
  • New Energy Technologies
  • Food and Fibre
  • Transport Technologies
  • Defence Technologies
  • Construction Technologies
  • International Education and
  • Professional Services.

The Sector Growth Program supports eligible projects that align with one or more of these sector strategies.

What you get

The Sector Growth Program provides grant funding for Victorian-based projects that align with Future Industries Sector Strategies. Specifically, projects that will:
  • drive growth, productivity and competitiveness of Victorian businesses
  • encourage collaboration between organisations operating in the future industry priority sectors
  • leverage co-investment into projects with clearly defined outputs/outcomes
  • create Victorian based jobs and offer value for money from Government funding.
There are two funding streams.

Stream 1 – Scoping, Planning and Feasibility

Grants of up to $100,000 are available for scoping, planning and feasibility studies to investigate growth opportunities for Victorian businesses.  Projects that may be funded in Stream 1 include:

  • road mapping
  • supply chain analysis
  • sector capability audits
  • economic impact analyses
  • feasibility studies
  • sector opportunity analysis
  • pathway to market strategy.

Stream 2 – Project Implementation

Grants of up to $1 million are available to implement projects aligned with the Future Industries Sector Strategies that will generate new jobs and increase competitiveness of Victorian businesses. Projects that may be funded in Stream 2 include:
  • shared infrastructure solutions
  • piloting new technologies, such as demonstration plant/equipment
  • establishing consolidated industry capability.
All grants must be matched by a minimum cash co-contribution of $1 for every $1 granted.

Application timelines

The Sector Growth Program is open at all times, with applications for funding assessed in accordance with the following timing.

Stream 1 – Scoping, Planning and Feasibility

Applications for funding under Stream 1 will be assessed every two months throughout the year.

Stream 2 – Project Implementation

Expressions of Interest (EOIs) for funding under Stream 2 will be assessed on a monthly basis throughout the year.

Business cases for funding under Stream 2 will be assessed every four months throughout the year.

What you need to have before applying

Read or download the following documents before applying. 

How to apply

 Applications for both streams may be submitted online at anytime.

Stream 1 – Scoping, Planning and Feasibility

Applicants need to:

  • complete the Stream 1 online application form
  • complete and attach the Stream 1 Project Proposal template to the online application form.

Stream 2 – Project Implementation

For EOIs applicants need to:

  • complete the Stream 2 EOI online application form
  • complete and attach the Stream 2 EOI template to the online application form.

EOIs assessed as eligible, will be invited to submit a formal Stream 2 application, which will be sent directly to the applicant along with a Business Case template to complete. Assessment of applications and any decision to approve funding are at the discretion of the Department.

Begin Stream 1 application   Begin Stream 2 EOI

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Talk to us, call 13 22 15

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