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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.

Frequently Asked Questions

Q. When do applications to the Sector Growth Program close?

Applications under the revised Guidelines close at 12 midnight on Wednesday 13 June 2018.

Q. Can previous applicants use prior applications to re-apply for the program or to streamline their application in any way?

A. No. Any prior applicants must submit a new application using new the application form and adhere to the revised guidelines and assessment criteria. All applications will be competitively assessed at the close of the round. 

Q. Does the revised program still require a consortium?

There is no consortium required for Stream 1 under the revised guidelines.

Stream 2 requires a consortium of at least two partners.

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?

Stream 1 – Applicant

Each application must be submitted by an organisation, which must:
  • be an incorporated entity with an Australian Business Number (ABN) www.australia.gov.au/information-and-services/money-and-tax/tax/abn-australian-business-number
  • have at least two years trading history
  • have its principal place of business in Victoria or have a significant business presence in Victoria
  • have sufficient dedicated resources to manage the grant.
Stream 2 – Lead applicant

Each application must be submitted by an eligible Lead Applicant organisation, which must:
  • be an incorporated entity with an Australian Business Number (ABN) www.australia.gov.au/information-and-services/money-and-tax/tax/abn-australian-business-number
  • have at least two years trading history
  • have its principal place of business in Victoria or have a significant business presence in Victoria;
  • have sufficient dedicated resources to manage the grant
  • be authorised to lead and facilitate activities supported by the grant on behalf of the other consortium members
  • be clearly accountable for the reporting and validation of project outcomes, including the number of new jobs delivered.

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. Private versus public funds?

A cash co-contribution of $1 for every $1 funded is required for both Stream 1 and Stream 2 projects.

Funds from other State or Commonwealth Government programs cannot be counted towards the matching co-contribution, but can be used towards funding of an overall project. 

For Stream 2 projects, the full matching cash co-contribution must be made by private sector consortium members.

Q. What sort of organisations can be part of the consortium for Stream 2 projects?

Each consortium must:
  • comprise at least two 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)
  • be able, as a consortium, to meet the co-contribution requirements (refer to Funding Requirements Section).
Consortium partners can include:
  • private sector businesses
  • not for profit organisations, such as educational or health institutions
  • Victorian local government authorities
  • Victorian public sector agencies

Q. Do applicants for Stream 2 have to have done a Stream 1 project?

No, applicants can go straight to Stream 2 but they must have completed a feasibility, planning or scoping study to support their implementation proposal.

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 as part of a Stream 2 project 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. 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 Trade and Investment Office.

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

Need more assistance?
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