Push for Innovation in Queensland Continues as Ignite Ideas Fund Opens for Round 6

The objectives of this program are to strengthen key industries in Queensland, diversify the Queensland economy, create new jobs today and in the future, and help Queensland businesses compete in global markets.

Grants are available in two tiers:

Tier 1:

• Grants of: Up to $100k
• Project Duration: Up to 12 months
• Cash contribution: At least 20% of funding amount sought

Tier 2:

• Grants of: Between $100k and $200k
• Project Duration: Up to 24 months
• Cash contribution: Equal to the funding amount sought
• Trading History: Minimum of two years
• ASIC Registration: Registered prior to 1 January

Either of the grants may be used for projects focusing on activities that commercialise a new product, process or service, and can cover the following costs:

• Salaries of project staff (including on-costs)
• Services provided by external parties (unrelated entities)
• Consumables and equipment
• Travel, accommodation and subsistence costs

To be eligible for either of these grant tiers, applicants must:

• Be a business or start-up organisation and be registered for GST;
• Be headquartered in Queensland;
• Have no more than 50 full time equivalent employees;
• Not be a subsidiary of a group of companies that has more than 50 full time equivalent employees in total; and
• Not have received, or currently be receiving, Queensland Government funding for the proposed project activity.

The application is a two-stage process:

• Expression of interest (EOI): Opens 23 September and closes 14 October 2019, 5pm AEST
• Detailed application (by invitation only): Within 6 weeks of the closing date

For more information please view the Advance Queensland website. For assistance in considering your project suitability and in submitting your application and supporting documentation please contact your usual Mazars advisor or alternatively our specialist, John Kotzur, on +61 7 3218 3900.

Published: 26 September 2019

Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.

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