Incubator Support Initiative

Up to $500,000 is available from the Incubator Support Initiative to assist Australian start-ups develop the capabilities required to succeed in international markets.

Incubator Support initiative

 

Incubator Support Initiative

The Incubator Support initiative provides grant funding to incubators to deliver support services to Australian start-ups with an international focus.

 

Background

Grants are available to support the establishment of new incubators in regions or sectors with high innovation potential, and for existing incubators looking to expand their services. Funded incubators will deliver a range of activities designed to improve the prospects of commercial success of innovative start-ups, allowing them to realise their economic potential faster than they otherwise would. The initiative supports entrepreneurial activity and contributes to the development of the innovation ecosystem, including in Australia’s regions.

 

Objectives

The objective of the Incubator Support Initiative is to assist New and Existing Incubators to:

  • improve the prospects of Australian start-ups achieving commercial success in international markets by delivering a range of activities to Australian start-ups to develop the capabilities required to realise their economic potential in international markets faster than they otherwise would; and
  • develop Australia’s innovation ecosystem including in Australian regions.

The Incubator Support Programme provides funding through two components to deliver Incubator Support projects, both of which require matched funding from applicants.

The first is support for New and Existing Incubators:

  • to help develop new Incubators in regions or sectors with high potential for success in international trade, and
  • to boost the effectiveness of high performing Incubators, including funding support to expand their services and/or develop the innovation ecosystem.

The second is support for Expert-in-Residence:

  • to organise and provide access to top quality research, managerial and technical talent through secondments of national or international expert advisers who will improve the chance of commercial success for start-ups in international markets.

 

Funding

The Incubator Support initiative offers grants:

  • up to $500,000 for the creation of new incubators in regions or business sectors with strong links to international trade and to boost the effectiveness of high performing existing incubators
  • up to $100,000 for incubators to engage experts-in-residence to ensure start-ups have access to top quality research, managerial and technical talent.

 

Eligible Projects

To be eligible your Incubator Support Programme project must:

  • include eligible activities and expenditure
  • have a total project value of at least $20,000 for New and Existing Incubators grants
  • have a total project value of at least $2,000 for Expert-in-Residence grants

 

Tips for successful applications

The criteria is identical most grants I write. But main areas to focus on for the Incubator Support Initiative are:
  1. How good is the management team in terms of overseas commercialisation
  2. Who are the international partners on the team
  3. Track record of investment in start-ups under management
  4. Financial capability
  5. How popular are your current services to start ups
  6. How your incubator is different to others
  7. How do you measure the success of your project

 

Timing

Applications close 17 November 2017.

 

More Information on the Incubator Support Programme

 

Recipients

The latest recipients to receive funding under the Incubator Support Programme  are:

  1. Creative Industries Precinct – The Creative Industries Precinct at QUT’s Kelvin Grove campus is an incubator for the next generation of groundbreaking ideas, creative enterprise and emerging and experimental creatives and artists. The Precinct provides a unique opportunity to easily connect and collaborate with partners from government and industry to create new work, develop new ideas and grow the creative industries sector in Queensland and Australia.
  2. Collective Campus – Collective Campus is an innovation hub, school and consultancy based in Melbourne, Australia and Singapore that helps companies adopt the mindsets, methods and tools required to succeed in an age of rapid disruption.
  3. Innovation Centre Sunshine Coast – The IC was established in 2002 and provides an ideal place to build a smart business.  IC start-ups and high growth companies tap into a deep entrepreneurial ecosystem and draw upon over fourteen years of IC experience in assisting over 160 members. The IC partners with AusIndustry and Advance Queensland as well high-profile, globally experienced private sector supporters, 30+ experienced mentors and sponsors.
  4. Spacecubed – Spacecubed is a Social Enterprise, designed to support 20,000 Startups, Entrepreneurs and Corporate Innovators by 2025. Their Perth CBD coworking/hotdesking, shared office and collaborative spaces, entrepreneurial hubs, programmes and events move people from ideas to action seamlessly.
  5. Innovation NQ – InnovationNQ offers participating members access to events, programs as well as a number of distinct workspaces, in which to explore their creativity, develop their entrepreneurial capabilities and harness the power of collaborative innovation.

 

Media Release

Four Australian innovation incubators will boost the services they offer to start-ups, thanks to $1.4 million in grants provided under the Australian Government’s $23 million Incubator Support initiative.

Incubators and accelerators are a vital part of effective innovation ecosystems.

The funding will help to establish new incubators in, Brisbane, Sydney and the Hunter region of New South Wales and to expand the services of an existing incubator in Adelaide

The incubators will assist start-ups that are developing innovations in advanced manufacturing, media and creative technologies and technology hardware, amongst other sectors.

The grant recipients are:

  • Slingshot Accelerator, in collaboration with the Univerity of Newcastle, to establish the I2N Regional Accelerator that will support up to 16 Hunter region startups
  • The Studio Incubator in Sydney to support new media and creative technology startups
  • The Advance Innovation Hub in Brisbane to provide hardware-based startups with resources, technical knowledge and access to innovative prototyping and manufacturing equipment.

Flinders University to expand the New Ventures Institute to assist innovative advanced manufacturing focused start-ups in Adelaide.

2018-09-04T14:48:14+00:00November 13th, 2017|