24 / September / 2019

​Ignite Ideas Fund - Applications Now Open

Business

Posted 24 September 2019


Ignite Ideas Fund - Applications Now Open

 

Ignite Ideas Fund supports Queensland based start-ups and small to medium sized Queensland businesses to commercialise innovative products, processes and services to enable them to grow and compete in a global market and create new jobs.

 


 

If you are a business looking at commercialising innovative products, processes or services and need financial support, Round 6 of the Ignite Ideas Fund is NOW OPEN. 

Expression of Interest applications close on Monday 14th October, 2019 at 10am. Applicants will be notified of the Expression of Interest outcome within approximately six weeks of the closing date. If you miss out on Round 6, Round 7's expected release date is April 2020.

Grants of up to $200,000 (excluding GST) are available to enable businesses to take highly innovative new products, processes or services that have reached minimum viable product stage or beyond, into the market for the first time, or into new markets.

The Ignite Ideas Fund aims to:

  • strengthen key industries in Queensland
  • diversify the Queensland economy
  • compete in global markets
  • engage and/or benefit regional Queensland
  • create new jobs.

Funding

Funding is available under two Tiers:

Tier 1
Applicants can apply for a grant of up to $100,000 (excluding GST) for projects of up to 12 months duration.

Tier 2

Applicants can apply for a grant greater than $100,000 up to a total of $200,000 (excluding GST) for projects of up to 24 months duration.

Eligibility

To be eligible for funding, applicant organisations must:

  • be a business or startup organisation headquartered in Queensland
  • be registered for GST as at the full application closing date
  • 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

If applying for Tier 1, the applicant and/or related parties must:

  • not have received an Ignite Ideas Fund grant previously or currently be receiving Federal, State or Local government funding for the proposed activity
  • make a cash contribution to the project that is at least equal to 20% of the value of the grant funding sought.

If applying for Tier 2, the applicant and/or related parties must:

  • not have received an Ignite Ideas Fund Tier 2 grant previously or currently be receiving Federal, State or Local government funding for the proposed activity
  • have successfully completed any project funded under Tier 1 of the Ignite Ideas Fund (if relevant)
  • make a cash contribution to the project that is at least equal to the amount of grant funding sought
  • have been registered with the Australian Securities and Investments Commission (ASIC) prior to 1 January 2018.

How to apply

The Ignite Ideas Fund has a two-stage application process:

Stage 1 - Expression of Interest short application form open to submissions for 3 weeks

Following independent assessment of the eligible Expressions of Interest received, a number of applicants will be invited to submit a Full Application.

Stage 2 – Full Application invitation round – full application form open to submissions from shortlisted applicants only for 3 weeks


APPLY HERE

 

 

 

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