Finding Cash in a Crisis – Open Government Grants

At Startup Victoria, we are working to support our local startups to survive during the uncertainty of COVID-19. Like many other founders, you are probably spending more time in your cashflow forecast than ever before. When it comes to runway, advice from community leaders like Adir Shiffman, Executive Chairman at Catapult Sports and GFC startup survivor, the goalpost is about 18 months. If you don’t have that sort of cash in the bank right now, it is time to start pulling levers on costs and cash immediately.

There are new Federal and State Government COVID-19 stimulus programs available that are designed to support business cashflow. You can check out a full list in LUNA’s Gov Stimulus tracker document here.

This article summarises Government Grants and Programs that were designed to support startups before COVID-19, that are still open now.

Accelerating Commercialisation

About: Accelerating Commercialisation provides small and medium businesses, entrepreneurs and researchers with access to expert advice and funding to help get a novel product, process or service to market. The program provides up to $250,000 of matched project funding for Commercialisation Offices and Eligible Partner Entities and up to $1 million of matched project funding for all other eligible applicants.

Applications are open to Australian entrepreneurs, researchers, inventors, start-ups, Commercialisation Offices and small and medium enterprises who have a novel product, process or service they want to commercialise.

More information can be found here.

Boosting Female Founders Initiative

About: Funding for startups founded by women to launch and scale their businesses into domestic and global markets. The Grants are between $25,000 and $480,000 for female-founded startups to expand into domestic and global businesses. The be eligible, the startup must be majority-owned and led by women.

More information can be found here.

Research and Development Tax Incentive

About: The Research and Development Tax Incentive (R&D Tax Incentive or R&DTI) helps to offset some of the costs you put into eligible R&D, which benefits the wider Australian economy. You can apply to register your eligible R&D with the Department of Industry, Innovation & Science within 10 months of the end of your company’s income year. You may then receive a tax offset when you lodge your Company Income Tax Return with the ATO.

More information can be found here.

CSIRO Kick-Start

About: CSIRO Kick-Start provides matched funding for start-ups and small to medium enterprises to help access CSIRO’s research expertise and capabilities to help grow your business. The program provides matched funding between $10,000 and $50,000.

More information can be found here.

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Thank you to Amazon Web Services for hosting the webinar with Adir Shiffman and prompting the creation of this page. If we have missed any grants or programs that startups are eligible to apply for and are currently open, please contact us and we will update this page.