Tasmanian Innovation Fund (TIIF)
Almost $1M has been awarded so far to Tasmanian Manufacturers for capital projects
Recipients
The following recipents have received Tasmanian Innovation Fund grants.
| Southern Bulbs | The funding will assist in the purchase of an Aqua Grader to expand their flower bulb production. The Aqua Grader is a Dutch innovation for washing, grading and processing flower bulbs. | 50,000.00 |
| Spreyton Fresh | The funding will assist in the development of a cider brewing facility and the establishment of orchard tour. | 120,000.00 |
| Abalone Farms Australia | The funding will assist with the re-establishment and revitalisation of the Bicheno abalone farm operation. | 450,000.00 |
| Tas Fab | The funding will assist with the expansion of the workshop and the installation of new equipment to increase the company’s production capacity and services. | 321,500.00 |
About
The Tasmanian Innovation and Investment Fund (TIIF) is a merit-based grants program announced by the Prime Minister on 3rd of October 2011 in recognition of the broad impacts of the restructuring of the forestry sector across Tasmania.
The Tasmanian Innovation and Investment Fund (TIIF) forms part of the Australian Government’s broader response to regional employment challenges.
The Tasmanian Innovation and Investment Fund (TIIF) will provide support for new investment that creates sustainable job opportunities in Tasmania. The Tasmanian Innovation and Investment Fund (TIIF) purpose is to support innovative job creation projects that strengthen Tasmania’s regional economy and employment base, particularly in areas affected by the restructuring of the forestry sector.
The Tasmanian Innovation and Investment Fund (TIIF) will encourage applications for projects that generate high quality, skilled jobs.
The Tasmanian Innovation and Investment Fund (TIIF) will provide up to $8 million in grant funding during the 2011-12, 2012-13 and 2013-14 financial years. There is a minimum grant amount of $50,000 for all proposals. There is no maximum funding limit within the total grant funding available under the TIIF
What projects are eligible?
The Tasmanian Innovation and Investment Fund (TIIF) will support innovative projects that strengthen Tasmania’s economic and employment base. Eligible projects will involve activities that generate new investment and create sustainable job opportunities in Tasmania.
For the purposes of the Tasmanian Innovation and Investment Fund (TIIF) ‘Tasmania’ is defined as the whole of Tasmania.
Applicants must be able to demonstrate that they have committed funding to the project, exclusive of in-kind contributions and free of other government funding, and which is at least equal to the amount of grant funding sought. Grant funding will not be provided for retrospective activities. Joint applications are acceptable, provided they have a principal applicant who is both the primary project proponent and an eligible applicant.
Project funding must be expended by 30 June 2014 when the Tasmanian Innovation and Investment Fund (TIIF) closes. Where projects continue after 30 June 2014, the applicant must demonstrate that the final stages can be carried out without any further grant funding.
Ineligible Expenditure
The following activities would not qualify for funding under the TIIF:
- Research or scoping activities; and
- Activities that occur prior to the date that the applicant and the Commonwealth execute a funding agreement.
The above list of ineligible activities is not comprehensive. The Program Delegate may, prior to the announcement of a funding round, issue guidance setting out types of expenditure that are ineligible for funding under the TIIF.
Who can apply?
Applicants must be incorporated and trading or financial activities must be a substantial part of the activities of the corporation. All applicants are required to have an Australian Business Number and be registered for the GST.
The following are not eligible to apply:
- Individuals;
- Commonwealth, State and Local Government agencies and bodies (including government business enterprises); or
- Entities that do not comply with State or Commonwealth law, such as Equal Opportunity for Women in the Workplace Act 1999.
More Information
The TIIF closes at 5pm AEST on 14 December 2011.
Expert Assistance
We have assisted multiple companies achieve over $30 M in infrastructure funding. Our job is to make your application competitive. Typically we can assist with demonstrating:
- the level of net economic benefit the proposed project will bring to Tasmania (We know how many jobs you will need per $ of grant)
- your ability to successfully undertake the project
- your ability to provide matching funding for the project
If you think you are eligible for this grant. Call us on 03 9005 6789 to discuss how we can maximise your chances of securing this funding
