Posted: 10 July 2023
Closes: 18 August 2023
Expressions of Interest (EOI) are now open for the Made in Victoria – Industry R&D Infrastructure Fund.
The $15 million Made in Victoria – Industry R&D Infrastructure Fund will provide matched grant funding of between $250,000 and up to $2 million to eligible businesses in Victoria, to invest in new or enhanced R&D infrastructure to support the growth of Victoria’s R&D capability across key industry sectors.
The grants will support new infrastructure and sophisticated equipment such as measurement instruments, testing equipment, imaging and sensing technologies, and clean room facilities and will be open to businesses that perform R&D as part of their operations, including R&D service providers.
The fund will also help accelerate projects in new energy, health technology, food manufacturing, defence and aerospace, and advanced technology – key sectors identified in the Government’s Made in Victoria: 2030 Manufacturing Statement.
To lift business investment in R&D, the fund will complement existing initiatives such as the Australian Government’s R&D Tax Incentive – boosting the state’s innovation capabilities and delivering broader benefits for Victoria’s advanced manufacturing sector.
This initiative is also targeted at enabling high quality collaboration and mutually valued research between industry, universities and/or research providers and supply chains by supporting R&D infrastructure.
Applicants must clearly demonstrate how funding will support further growth in business expenditure on R&D. Funded projects will be expected to deliver on the program objectives.
Expressions of Interest open on Thursday 6 July 2023 and close at 5pm on Friday 18 August 2023.
The Industry R&D Infrastructure Fund will incentivise Victorian companies to make new investments in new or enhanced R&D infrastructure to support the growth of Victoria’s R&D capability across key industry sectors and further business expenditure on R&D.
The benefits created by the funding can be to a business, or to an industry, or to both, but must be able to show how the project will increase Victoria’s business expenditure on R&D in the medium to longer term.
The program will support new R&D infrastructure projects aligned to Victoria’s priority industries as identified in the Made in Victoria: 2030 Manufacturing Statement, including:
Projects aligned to other industry sectors may also apply for funding.
To support business investment in R&D as a key driver of innovation and economic growth this program will:
The Industry R&D Infrastructure Fund is open to:
Successful applicants will need to complete the project activities within 12 months. Successful applicants may negotiate project timelines beyond 12 months on a case-by-case basis.
To be eligible the organisation must:
The program provides grants of up to 50% of eligible project expenditure with all grants requiring a minimum 1:1 co-contribution from the applicant. The minimum grant amount is $250,000 (excluding GST) and the maximum grant amount is up to $2 million (excluding GST).
Funding will not be provided for retrospective activities, i.e., where project expenditure is incurred prior to acceptance of a letter of offer. Applicants that commence their projects prior to execution of a grant agreement do so at their own risk.
Approval for funding is independent of and does not guarantee entitlement to the tax offset under the Australian Government’s R&D Tax Incentive (R&DTI). Applicants are responsible for seeking specialist advice concerning any implications of grant funding towards future tax claims under the Australian Government’s R&DTI.
Funds from other Victorian or Australian Government programs cannot form part of the co-contribution. Full project expenditure, including grant funding and co-contribution funding, must be spent on eligible project activities as detailed in the program guidelines.
There is a two-stage application process. Expressions of Interest open on Thursday 6 July 2023 and close at 5pm on Friday 18 August 2023.
Successful Expression of Interest applicants will be invited to apply to Stage Two and submit a more detailed application, including a project plan, project budget, financial reports for the past three years, evidence of 1:1 co-contribution, business plan, risk management plan and letters of support.
An invitation to submit an application to Stage Two does not guarantee funding will be approved.
For further enquiries please visit the Contact us page.
Potential applicants are encouraged to carefully consider their ability to meet the program requirements and how they will perform against the assessment criteria before committing significant resources to developing an application.