VIC and ACT grants
Manufacturing industry grants
Future Industries Manufacturing Program – VIC
If you’re an innovative manufacturing company in Victoria, the Future Industries Manufacturing Program could be for you — providing you have the funds to back it up.
This grant program encourages manufacturers in Victoria to invest in new manufacturing technologies and processes as a way to increase growth, hire more people, and improve productivity. However, if companies want to be eligible, they’ll need the capital to complement the grant, as companies are expected to match $3 for every $1 granted through the program.
- How much? Up to $500,000.
More information about the program can be found at https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/future-industries
LaunchVic – VIC
LaunchVic is the Victorian government’s agency for supporting startups and innovative SMEs in the state. It was given $60 million in the 2015 state budget to help fund local startups. The agency recently closed round eight of its funding. The fund’s overall goal is to foster the Victorian startup ecosystem into one that is internationally recognised, by bolstering the skills of its startup founders and promoting inclusion and diversity across the board.
- How much? Unspecified.
One of LaunchVic’s most recent rounds, now closed, focused on Victoria’s health sector. Keep an eye on the agency’s website and apply here to be kept in the loop for further rounds.
Regional grants
Regional Jobs Fund + Stronger Regional Communities Plan – VIC
At its core, the Victorian Regional Jobs Fund acts as a way to support businesses to create more jobs in regional and rural parts of the state across the streams of investment attraction, innovation and productivity, employment, market access, and skills development.
The total value of the fund is around $500 million, but there is no set amount of funding companies can receive. Instead, applications are judged on a case-by-case basis and companies can request certain amounts. The funding does not need to be matched.
- How much? It varies/$50,000.
To be eligible, businesses must be undertaking activities to make or keep rural and regional jobs in Victoria.
More information can be found at https://www.business.gov.au/grants-and-programs/regional-jobs-fund-vic
Complementing this is the Stronger Regional Communities Plan, which provides up to $50,000 to private sector businesses to help retain jobs in regional Victoria.
CBD Small Hospitality Grant – Melbourne
The CBD Small Hospitality Grant provides additional support for SMEs in the hospitality industry in Melbourne’s CBD, in light of the impact of stage four COVID-19 restrictions.
Businesses must be a previous recipient of the Business Support Fund and operate a hospitality business in the Melbourne CBD, World Trade Centre, Southbank or Docklands with a capacity of 11 or more seats.
- How much? $5,000 or $15,000 depending on the capacity of the business.
More details can be found at https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/cbd-small-hospitality-grant
Microcredit Loan Program – ACT
Businesses or aspiring business owners in the AC can take advantage of a range of microcredit loans. Low-income earners looking to start a business can receive interest-free loans of up to $3000 or low-interest loans up to $10,000 to help grow their business through new equipment purchases.
To be eligible, your combined family income has to be under $75,000 and you must have an established or semi-established business in the ACT.
- How much? Up to $10,000.
More information is available at https://www.business.gov.au/Grants-and-Programs/ACT-Microcredit-Loan-Program