South Australia Innovation and Investment Fund

$30 million fund that supports innovative, job creation projects that strengthen and diversify Adelaide’s economy. 

Need Manufacturing Grants?

Call 1300 658 508

Overview

The South Australia Innovation and Investment Fund (SAIIF) was established by the Australian and South Australian Governments following the decision by Mitsubishi Motors Australia Limited to cease its manufacturing operation in Tonsley Park, Adelaide. Bulletpoint anticipates this program to continue with Holden’s recent announcement to cease manufacturing in Elizabeth, South Australia.

Exact details of the program are yet to be announced but Bulletpoint expects the program to be very much the same as the previous 3 rounds. A guide of what to expect is provide below.

Background

The SAIIF will support investment by business leading directly to new sustainable jobs in the Adelaide North region to assist the region to diversify its economic base. Eligible projects will focus on encouraging new investment to create new or additional business capacity that results in sustainable jobs.

Applications for funding under the SAIIF are encouraged from all industry sectors.

Applicants should note that SAIIF proposals will not be favoured where they involve no sustained net increase in economic activity in Australia or where new jobs in the Adelaide North region are created at the expense of jobs elsewhere.

Funding

A total of $30 million in funding is available.  There will be competitive funding rounds and all funds awarded must be expended by 30 June 2016 when the SAIIF will close.

The minimum grant under the SAIIF will be $50,000.  There is no maximum grant limit within the total grant funding available under the SAIIF.  Grants will be up to 50 per cent of eligible expenditure.

Financial assistance will only be provided for:

• up to 50% of projected eligible project costs; and
• on the provision of satisfactory evidence that the agreed payment milestones have been achieved.

Eligible Projects

Eligible expenditure includes:

• acquisition of new equipment or machinery that can be capitalised in the applicant’s accounts; and
• construction or fit-out of a new building or extension to premises.

Timing

• Round 1 – closed 17 October 2008
• Round 2 – closed 29 May 2009
• Round 3 – closed 10 September 2010
• Round 4 – Yet to be announced

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.

Need Manufacturing Grants?

Call 1300 658 508

Previous Recipients