Up to $100,000 to offset up to 50% of the cost incurred in researching and implementing strategies to substantially increase the value of exports.
The GlobEx Program provides funding of up to $100,000 to an organisation or a group of organisations with turnover over $20 million. The program offsets 50% of eligible expenses incurred in researching and implementing strategies to substantially increase the value of exports by expanding into new markets or by developing a new goods or service export.
GlobEx Program Funding can be used for:
- Market research;
- Market visits;
- Sending export samples to overseas markets;
- Promotion and advertising;
- Bringing overseas buyers to Victoria; and
- Registration and insurance of eligible intellectual property.
GlobEx applicants meeting the following criteria will be eligible for consideration if they:
- possess an Australian Company Number and Australian Business Number;
- are based in Victoria;
- achieve a satisfactory financial risk assessment based on financial reports for the past three financial years (interim reports to be provided if appropriate for the current financial year);
- produce products and services in Victoria, that have an Australian content of at least 50% of the total sales value and will be exported from Victoria;
- have annual turnover in excess of $20 million;
- agree to comply with the performance monitoring and evaluation program of -Department of Business and Innovation
- agree to have a case study prepared on their success for media and advertising purposes; and
- meet the co-contribution requirement of 50% of eligible expenses (funding from other government programs (including the Victorian Government’s Trade Fairs and Missions Program) cannot form part of the co-contribution commitment).
Where a GlobEx project involves multiple organisations, the lead organisation should submit the application. All participating organisation will be subject to probity checks.
Proposed GlobEx projects must satisfy at least one of the following criteria:
- demonstrate that the project has the potential to deliver a significant net increase in exports to Victoria;
- demonstrate that the project will result in significant exports to a market that is new to the applicant;
- demonstrate that the project will result in significant new goods and/or services exports for the applicant.
Preference may also be given to GlobEx applications from, or those that contribute to, the Department’s priority sectors, including automotive, aviation, biotechnology, defence, energy, financial services, food, information and communications technology, and tourism.
GlobEx applications will be assessed individually and competitively against the assessment criteria and irrespective of eligibility and merit there is no guarantee that an offer of funding will be made.
GlobEx applications for Global Export Engagement Program are available now from http://export.business.vic.gov.au/ funding-and-assistance
GlobEx applications closed on 1st March 2012. Another round is expected to be undertaken. Make sure you sign up to our newsletter to receive the latest information on grant announcements.