Up to $30,000 is available from Innovation Connect to help smaller technology businesses based in Canberra develop innovative products and services.
Innovate Connect helps Canberra-based businesses develop innovative products and services. Support is available for smaller, technology focused start-ups and entrepreneurs to accelerate viable, innovative ideas along the commercialisation pathway.
Businesses in the early stages of preparing an innovative product or service for investment or commercialisation can receive support to:
- develop a product prototype
- develop functional software
- develop a formal marketing strategy
- undertake market testing
- obtain professional IP and patenting advice and legal advice.
Competitive grants of between $10,000 and $30,000 are available. Funding must be matched dollar for dollar.
Innovation Connect Grants can provide support for projects that prove the technical or commercial feasibility of a concept or technology.
- development of a prototype
- development of functional software
- professional development of a formal marketing strategy
- professional market testing
- professional IP and patenting advice
- legal advice related specifically to the project
If you believe that you, or an employee, have the required skills and experience to undertake aspects of the project (as opposed to outsourcing to a third party) you are able to claim your time as part of the grant funds. This would need to be negotiated and an hourly rate agreed to prior to commencing the grant. You would also be required to demonstrate that the hourly rate to be claimed is reasonable and in line with market rates and your experience and where possible provide quotes from professional suppliers demonstrating value for money.
To be eligible to receive an Innovation Connect grant a start-up / business must have:
- an annual turnover of less than $2 million
- operations based in Canberra
- an Australian Business Number (ABN) (by the time the grant is awarded)
The business must also be prepared to enter into a formal Deed of Grant with the ACT Government.
Applications close 30 November 2018.