Ignite Ideas Fund

Ignite Ideas Funds

What is Ignite Ideas Funds?

The Ignite Ideas Fund provides up to $200,000 to Queensland-based SMEs for commercialising innovative products or services at minimum viable product stage or beyond.


Background

The Ignite Ideas Fund assists Queensland’s small to medium enterprises in elevating their innovative products or services to new levels, enhancing their competitiveness on a global scale. The initiative not only aims to boost productivity and innovation through the introduction of new technologies and processes but also supports the creation of high-skilled jobs, securing a prosperous future for Queensland’s economy.


Objectives

The objectives of the Ignite Ideas Fund are to:

  • Strengthen key industries within Queensland by supporting the commercialisation of innovative products or services.
  • Diversify the Queensland economy through the introduction and growth of high-potential enterprises.
  • Enhance Queensland’s competitiveness in domestic and international markets by encouraging the adoption of advanced agribusiness solutions.
  • Engage and benefit regional Queensland by fostering innovation and entrepreneurship across the state.
  • Create new job opportunities, now and into the future, by investing in businesses with high-growth potential.


Eligible Entities

Eligible entities for the Ignite Ideas Fund are:

  • Businesses headquartered in Queensland.
  • Entities with no more than 50 full-time equivalent employees.
  • Organisations not part of a group that has more than 50 full-time equivalent employees in total.
  • Applicants registered for GST at the time of Full Application submission.
  • Companies that have not received funding for the proposed project from state, federal, or local government.

For Tier 1 applicants, additional criteria include:

  • No prior receipt of Ignite Ideas funding.
  • A cash contribution to the project at least equal to 20% of the value of Ignite Ideas funding sought.

For Tier 2 applicants, criteria extend to:

  • No previous Tier 2 grants from the Ignite Ideas Fund.
  • Not applying for a product or service that has previously received Ignite Ideas funding.
  • Successful completion of any project funded under Tier 1 of the Ignite Ideas Fund, if applicable.
  • A cash contribution to the project at least equal to the amount of Ignite Ideas funding sought.

Eligible Expenditure

The eligible expenditure for the Ignite Ideas Fund are:

  • Salary expenditure (including salary-related on-costs) for new employees directly contributing to the delivery of the project.
  • Salary expenditure (including salary-related on-costs) for founders and existing employees directly contributing to the delivery of the project, capped at 20% of the total grant.
  • Services provided by (unrelated) external parties.
  • Equipment purchases not exceeding $10,000 per item, capped at 10% of the total grant.
  • Consumable items necessary for the project.
  • Travel, accommodation, and subsistence costs related to the project.


Funding

Between $100,000 and $200,000 is available on a basis of 1:1 matched funding.


Eligible Activities

Eligible expenditure for the Ignite Ideas Fund includes:

  • Initiating and expanding product or service offerings.
  • Designing and promoting innovative software solutions and applications.
  • Enhancing and marketing new or improved products or services.
  • Procuring specific equipment to facilitate project advancement.
  • Penetrating new markets to broaden reach.
  • Engaging independent executive or advisory expertise for strategic guidance.
  • Growing or establishing executive teams and advisory boards for better governance.
  • Investing in professional development to enhance team capabilities and project outcomes.

 

How to get Ignite Ideas Funds

In order to get the Ignite Ideas Fund, you will need to focus on:

  1. Innovation: Showcase how your product or service is innovative, unique, and holds a competitive edge in the market.
  2. Market Potential: Demonstrate significant market demand and scalability for your product or service with supporting letters from potential customers.
  3. Technology/Market Readiness: Confirm your product or service is at least at a minimum viable product stage, with potential for market entry by project end.
  4. Project Viability: Outline a well-planned project with clear commercialisation activities, outcomes, and risk mitigation strategies.
  5. Organisational Capability: Highlight your team’s technical and management skills relevant to successful project delivery and commercialisation.
  6. Benefits to Queensland: Illustrate the project’s potential benefits to Queensland’s industries, community, job creation, and regional development.
  7. Intellectual Property: Ensure you own or have irrevocable rights to necessary IP, with protective measures in place for commercialisation.
  8. Evidence of Demand: Include letters of support that confirm market interest and potential customer base.
  9. Commercialisation Pathway: Detail the journey from MVP to market entry, including expected increase in customers and revenue.
  10. Funding Readiness: For Tier 2 applicants, provide confirmation of your ability to match the funding sought with a cash contribution

Timing

The closing date for the Ignite Ideas Fund is 8 April 2024 11:00AM.

More Information

Source
Guidelines

Latest News

Little Phil, a charity fundraising platform backed by the QLD Government’s Ignite Ideas Fund, has released its AI-powered charity assistant, which helps charities and causes access the latest emerging technology to save time creating blogs, emails, and social media posts. The AI-powered assistant leverages cutting-edge machine learning technology to quickly generate optimised social media campaigns with a few simple clicks. The newly appointed Australian Charities and Not-for-Profit Commission (ACNC) Commissioner (Sue Woodward AM) has shown a keen interest in using tech for good, recently providing guidance on cryptocurrency donations.

Source

Global Road Technology (GRT)  recently received $100,000 in the Round 9 Ignite Ideas Funding through the Advance Queensland innovation initiative designed to support the state’s businesses undertaking commercialisation projects that will benefit the economy now and into the future.

GRT has received funding to promote its SMART Dosing Unit, an automated dosing system designed to reduce dust pollution and silicosis.

GRT’s SMART dosing technology is gaining traction in the mining industry, with trials being run on some of the biggest mine sites. It uses IoT technology to remotely control and automate product use. GRT is grateful for the support of the Queensland Government’s Advance Queensland Ignite Ideas initiative.

Source

Bloom recently received $100,000 through the Advance Queensland Ignite Ideas Fund Round 9, which they will put towards increasing sales and fast-tracking commercialisation of their product.

Bloom Impact Investing’s vision is a world where a carbon-free economy allows people and the planet to thrive.

Co-founders, Camille Socquet-Clerc and Bertrand Caron, established Bloom in 2019 because they wanted to fix climate change at scale and wanted to make investing in renewable energy projects and cleantech accessible to everyone, not just the ultra-wealthy.

Source

Two Newstead companies have been selected as beneficiaries of the Ignite Ideas fund, an initiative helping Queensland-based start-ups and small-to-medium businesses commercialise their products and services.

Information technology company Brancher has received $100,000 for their virtual mentoring and career development platform.

Earthoffset, which also trades as Monty Compost Co, has received $100,000 for their organic waste recycling technology.

Source

Round 9 Recipients

Emerging Healthcare Operations Pty Ltd
Virtual paediatric emergency care for Queensland Health services
$100,000

Laronix Pty Ltd
Commercialising coice technology supporting phone/online communication in voice-impaired communities
$197,950

Layer Labs Pty Ltd
Digital IP licensing marketplace for video gaming industry
$200,000

Liquid State Pty Ltd
Patient-centred platform for chronic disease self-monitoring, management, and communication
$100,000

Mineral Fox Pty Ltd
Commercialisation of Mineral Fox Botanicrete to the Australian market
$100,000

Ordo Enterprises Pty Ltd
Commercialising ORDO, a mining supervisor’s shift planning digital toolkit
$100,000

Predico Software Pty Ltd
Data driven AI for resource optimisation
$177,000

Terracipher Pty Ltd
Shaipup – a knowledge brokering marketplace
$100,000

The Smarter Towing Company Pty Ltd
Real-time wheel bearing monitoring for trucks caravans and trailers
$100,000

Townlec Auto Electrical Pty Ltd
Commercialising LokaBox
$99,500

Wdu Enterprises Pty Ltd
Modular, scalable and flat-packable commercial (large-scale) worm farms
$92,940

My Virtual Freight Forwarder Pty Ltd
All-in-one digital freight management platform for small cargo importer businesses
$100,000

Bloom Impact Investing Pty Ltd
Digital platform to make renewables and cleantech investments accessible
$100,000

Decida Digital Pty Ltd
Switch4Schools – student mental health and wellbeing
$100,000

Elemental Instruments Pty Ltd
Precision magnetic fields for scientific and industrial applications
$45,000

Flametree Technologies Pty Ltd
Portfolio risk analysis software
$100,000

Global Road Technology Holdings Pty Ltd
SMART Dosing Unit for mining dust suppression and Wwter management
$100,000

Pemdx Pty Ltd
Flow-Bag Oxygen Mask Respiratory Indicator
$100,000

Spur Labs Pty Ltd
Toucan
$200,000

Stackle Pty Ltd
Stackle for innovating and personalising online learning
$98,500

Voltin Operations Pty Ltd
10,000 Safer Cities – autonomous façade assessment system
$100,000

Watergum Community Inc
Watergum Cane Toad Tadpole Trap and Lures
$200,000

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