The Industry Growth Program is a federally funded grant to support small and medium Australian businesses in the early stages of commercialisation or are about to enter substantial growth of an innovative product, process or service.
The Industry Growth Program is governed by the National Reconstruction Fund (NRF) where eligible projects must fall within one of the NRF priority areas:
- Value-add in Resources
- Value-add in Agriculture, Forestry & Fisheries
- Transport
- Medical Science
- Renewables & Low Emission Technologies
- Defence Capability
- Enabling Capabilities
The program is divided into two grant opportunities:
- Early-stage Commercialisation – Projects that include an innovative product, process or service that are currently undertaking feasibility studies and the development of a proof-of-concept, through to production and testing of early prototypes. Such innovative products would currently have a Technology Readiness Level (TRL) of TRL3 to TRL6.
- Commercialisation & Growth – A project with an innovative product, process or service that can demonstrate completed feasibility studies and completed proof-of-concepts, including the capability to scale such a product to its full rate of production and expand into new markets. Such innovative products would currently have a Technology Readiness Level (TRL) of TRL4 to TRL9.
*Click here to learn more about Technology Readiness Levels.
See below for a full summary of the Industry Growth Program.
Industry Growth Program Grant Summary
Grant Amounts:
Early-stage Commercialisation: $50,000 to $250,000
Commercialisation & Growth: $100,000 to $5 million
Eligibility Criteria:
The applicant must:
- Have a valid ABN
- Be non-income-tax-exempt
- Be registered for GST
- Be one of the following entities:
- A company, incorporated in Australia
- A co-operative
- An incorporated trustee applying on behalf of a trust
- Have a combined annual turnover of less than $20 million for each of the three financial years prior to the lodgement of the application
- Have an innovative product, process, or service that you are seeking to commercialise and/or grow in one or more of the following NRF priority areas:
- Value-add in Resources
- Value-add in Agriculture, Forestry & Fisheries
- Transport
- Medical Science
- Renewables & Low Emission Technologies
- Defence Capability
- Enabling Capabilities
Eligible Expenses:
- Labour expenditure (including labour on-costs and administrative overhead)
- e.g. Employees’ direct labour costs related to the core elements of the eligible project
- Contract expenditure
- e.g. Sub-contractors such as electricians or engineers that may be engaged to construct, install, or commission plant or prototypes
- Capitalised expenditure
- e.g. Plant, equipment, prototypes, and pilot plant
- Travel expenditure
- e.g. Domestic and international travel related to the core eligible project activity
Not all expenditure on your project may be eligible for grant funding. Final eligible expenditure is subject to a grant agreement.
Why use prmpt. as your grant consultant?
- We specialise in the development and commercialisation of research and development (R&D) products
- prmpt. currently has a number of clients undergoing the Industry Growth Program and have been successful to the first two application stages, now in the final stage of the applications process
- We have experience and now a proven track record with this program and delivering results for eligible clients
- We manage the entire process for our clients, including:
- Full grant application + detailed plan to market + supporting documentation
- Management of EMDG budget
- Quarterly budget review
- Milestone report submissions
- Negotiation of milestone payments
