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Future Industries Sector Growth Program FAQs

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 130.8 KB)PDF icon.

Or WORD version Sector Growth Program Guidelines (DOC 278 KB)DOC icon

Frequently Asked Questions

Q. How much funding is available?

The Sector Growth Program has two funding streams.

Stream 1 – Scoping, Planning and Feasibility

Grants of up to $100,000 are available for scoping, planning and feasibility studies identifying opportunities consistent with the Future Industries Sector Strategies and offering potential for growth of Victorian businesses.

Stream 2 – Project Implementation

Grants of up to $1 million are available to implement projects that are consistent with the Future Industries Sector Strategies and will generate new jobs and increase competitiveness of Victorian firms.

Q. What sort of entity can be a lead applicant?

The lead applicant organisation must:

•    be an incorporated entity registered for GST 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
•    for Stream 2 projects, be accountable for the reporting and validation of economic impact and jobs targets.

Q. Why must applications come from a consortium of organisations?

A key objective of the program is to encourage collaboration between organisations operating in the future industry sectors.

During consultations with industry for the development of the Future Industries Sector Strategies, the need for greater coordination and collaboration within and between the sectors was a key theme to emerge. By encouraging greater collaboration, the program aims to minimise duplication of effort, pool resources and share skills, infrastructure and ideas.

Q. What support is available for an individual enterprise operating in one of the identified the future industry sectors?

Individual enterprises looking for direct assistance or support for their business should consider some of the other programs available such as the Future Industries Manufacturing Program, the New Energy Jobs Fund, the Premier’s Jobs and Investment Fund or the Regional Jobs and Infrastructure Fund.

Q. Is a financial contribution required from applicants?

Yes, a minimum cash contribution of $1 for every $1 funded is required for projects in both streams.

Q. Do in-kind contributions count towards the co-contribution?

No, while in-kind contributions will add to the overall viability of the project, the minimum matching contribution must be in cash.

Q. Can employee salaries be counted towards the co-contribution?

Eligible expenditure can include non-capital expenses such as salaries and on costs provided the employee is newly employed for the project.  Business as usual expenses, including salaries and on-costs of existing employees are counted as an in-kind contribution.

Q. How will any Intellectual Property developed be managed?

This will be determined by each consortium.  Consortium members must enter into a formal legal agreement prior to any grant funds being paid through the program. The consortium agreement must refer to formal intellectual property arrangements between consortium members.

Q. Can consortia apply for both streams?

Yes. Applying for one stream does not disqualify an applicant/consortium from the other stream.

Q. How do I apply?

Contact a Victorian Government representative regarding your project idea to make sure it is suitable for the Sector Growth Program.  To find the right person, contact your local Victorian Government Business Office.

All applications must be submitted online. All application forms and templates are available at our Sector Growth page.

Q. Where can I get more information?

Sector Growth Program guidelines

Further information on our Future Industries Fund page

Email the program team at sectorgrowth@ecodev.vic.gov.au

Phone Business Victoria on 13 22 15.

Need more assistance?
Talk to us, call 13 22 15

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