Up to $500,000 is available for companies to purchase new technologies that will improve productivity.
Over $1.5M raised for Manufacturers
Call 1300 658 508
Overview
The Competitive Business Fund assists businesses to take maximum advantage of new opportunities that are emerging in the global economy.
The Competitive Business Fund supports growing and competitive businesses with the potential to move into new markets, to develop processes and solutions, or to invest further in their business in order to enhance competitiveness and capitalise on emerging opportunities.
Success Stories
Bulletpoint has assisted a number of clients secure manufacturing grants. Check out the case studies.
Funding
The Competitive Business Fund provides two streams of financial assistance on a co-contribution basis:
- Enterprise – up to $250,000 for a project involving one company, to be matched by a minimum of $3 for every $1 granted; and
- Supply Chain – up to $500,000 for a collaborative project involving multiple companies, to be matched by a minimum of $2 for every $1 granted.
Where a Competitive Business Fund project involves multiple organisations, the lead organisation submits the application and is subject to the financial risk assessment. All participating organisations will be subject to probity checks.
Eligible Expenditure
The Competitive Business Fund may be used for:
- Investments that increase a company or supply chain’s productivity and competitiveness including, for example:
- purchase/upgrades of plant and equipment or technology
- upgrades to existing infrastructure
- improvement/enhancement of capabilities or skills
- adoption of new processes
- development of an innovative product, process or market that will generate broader benefits to the community
- mergers and acquisitions that will create sustainable growth-oriented entities
- Collaborative projects among multiple businesses that facilitate greater business growth
- Demonstration projects where knowledge is shared across industry, which leads to significant productivity improvement.
Assistance will not be provided for normal “business as usual” operations, such as meeting payroll commitments, for payment of redundancies or for organic growth.
Assessment Criteria
Proposed Competitive Business Fund projects must satisfy at least one of the following criteria:
- the potential to deliver a net economic benefit to Victoria and/or lead to sustainable increases in productivity and/or creation or transition of staff to high value jobs
- enable the company or supply chain to capitalise on opportunities arising from changing global economic conditions
- make a reasonable contribution to a region or locality in terms of employment
- support the growth and competitiveness of small and medium sized enterprises through their supply chain engagement.
Preference may also be afforded to Competitive Business Fund applications from, or those that contribute to the department’s priority sectors, which include automotive, aviation, biotechnology, defence, energy, financial services, food, information and communications technology, international education and tourism.
Expert Assistance
Writing a good quality grant application is a critical element in the application process. An application needs to be well thought through, written concisely, have clear objectives and purpose, and show clear links to the objectives of the grant guidelines.
The grant application must answer all questions, provide all required information and respond to the merit criteria. It should also reflect your organisation’s business strategy.
Writing a good application takes time and effort, and requires particular writing skills.
Bulletpoint are expert grant consultants and can assist with all aspects of grant preparation. We are an independent grants consultancy and not affiliated, associated, endorsed by any government agency.
Call 1300 658 508
Timing
The program is not currently open to applications but Bulletpoint expects the program to open in July 2015.
