Posted: 21 January 2025
The program provides an Advisory Service for startups and small and medium enterprises (SMEs) undertaking innovative commercialisation and/or growth projects that are within the priority areas of the Australian Government’s National Reconstruction Fund (NRF) and help build Australia’s manufacturing capability for the future.
What do you get?
Eligible businesses will be connected with an Industry Growth Program Adviser. The Adviser will provide specialised advice to support your commercialisation and growth opportunities and priorities.
Once you have received this advice, you may choose to apply for:
- grants of $50,000 to $250,000 to support early-stage commercialisation projects
- grants of $100,000 to $5 million for commercialisation and growth projects.
Who is this for?
SMEs who have an innovative commercialisation and/or growth project that will help build manufacturing capability in one or more of the government’s priority areas for the NRF:
- value-add in resources
- value-add in agriculture, forestry and fisheries
- transport
- medical science
- renewables and low emissions technologies
- defence capability
- enabling capabilities.
Minor changes or improvements to existing products or services are not considered innovative. These are generally considered business as usual growth and not eligible under the program.
About the program
The Industry Growth Program supports innovative small and medium enterprises undertaking commercialisation and/or growth projects.
Through the program, you will be connected to an Adviser who will:
- help you test your business model and help you overcome challenges with your innovative project
- work with you to develop recommendations for commercialisation and growth priorities and strategies
- consider suitable pathways for support and funding, which may include an Industry Growth Program grant opportunity.
If you are eligible for the Advisory Service and have received your advisory report, you may choose to apply for a grant funding opportunity. However, not all businesses will be eligible for a grant, and funding will be awarded to applications with the most merit.
Advisory Service
An Industry Growth Program Adviser will work with you to develop recommendations and a plan for commercialisation and/or growth.
Advice will be tailored to your business and may include:
- commercialisation and growth strategies, including business model validation
- funding avenues, potential investors and capital raising
- building networks and establishing collaborative partnerships
- commercialisation intellectual property
- market testing
- development of compelling value propositions.
Your Adviser will provide you with a report with priorities and recommended actions for the commercialisation and growth opportunities for your business.
