Incubator Support Initiative
New Program Guidelines and Expanded Regional Focus.
As part of the 2016-17 Budget, the Government announced that the initiative would be expanded to better reflect the importance the Australian Government places on regional development. The changes build on the current imitative and will provide greater support to regional start-ups by improving the capabilities of regional incubators and accelerators. The initiative is also still open to applications from major cities and metropolitan areas.
Some of the key changes include:
- an increased grant percentage of up to 65 per cent for New and Existing Incubator projects where at least 80 per cent of project activities are being undertaken in a regional area. The grant amount will be up to 50 per cent of the total project value for projects being delivered in major cities;
- Regional Incubator Facilitators will provide mentoring and support services to regional incubators to increase their chances of success;
- the introduction of a draft application process for New and Existing applicants;
- an expansion of the Expert-in-Residence funding component to allow for outgoing experts to visit host incubators; and
- a new maximum grant amount for Expert-in-Residence project of $100,000.
A series of information sessions and a live-webinar will be held in early 2018 to provide more detail about changes to the initiative. Details and registrations for these sessions will be provided on business.gov.au shortly.
New Program Guidelines and Factsheet for the Incubator Support initiative are available. Further details about the initiative can be found at www.business.gov.au/
Assistant Minister Laundy's Media Release can be read here.
