Check out the list below of both general and sector-specific grants that are available to you as a startup or SME based in New South Wales. We’ve listed the usual suspects such as the MVP and R&D tax incentive grants but also lesser known grants such as the Youth Jobs Path and NSW small business grants. Did we miss anything? Shoot us a message and we’ll add it to the list.
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NSW & Federal Grants
TechVouchers encourages research collaboration between NSW small-to-medium enterprises (SMEs) and Boosting Business Innovation Program (BBIP) delivery partners. Through TechVouchers, SMEs can be connected with an expert in a relevant field of research and embark on an innovative joint research project. The program also enables access to high tech instruments and facilities that would otherwise be difficult to access.
R&D Tax Incentive
The R&D Tax Incentive provides a tax benefit to companies to help offset some of the cost of conducting eligible research and development activities. Tax offsets of 43.5% or 38.5% are available for costs incurred on eligible activities depending on a company’s annual aggregated turnover.
Minimum Viable Product Grant
Minimum Viable Product (MVP) grants support promising pre-revenue startup businesses across all industry sectors to progress from proof of concept to a minimum viable product stage of development.
A matched funding grant of up to 50% of approval total development costs is available to eligible NSW startups, to a maximum of $25,000.
Building Partnership Grant
Building Partnerships grants help revenue generating startups and small to medium enterprises (SMEs) scale or grow strategically through the acquisition of a key customer or channel to market. Eligible businesses can receive up to 35% of the approved project costs up to a maximum grant of $100,000
Accelerating Commercialisation provides access to expert guidance and grants to help businesses commercialise their novel products, processes and services. This grant provides projects up to 50% of the expenditure to a maximum of $250,000 for commercialisation offices and eligible partner entities and $1 million for all other applicants. Accelerating Commercialisation Grant recipients will also receive Portfolio Services for the duration of the project.
Youth Jobs PaTH
Youth Jobs PaTH is a new program designed to better prepare young people aged between 15 and 24 for work in your business. It also encourages employers to trial a young person for a job and offers financial incentives if they hire them.
Employers can trial a young person in an internship from anywhere between 4 and 12 weeks and receive $1,000 to help with the costs of hosting the internship. Employers who hire an eligible young person can receive a Youth Bonus wage subsidy incentive of up to $6,500 or $10,000.
NSW Small Business Grant
The Small Business Grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business. The grant amount is $2,000 payable per full time equivalent position as at the anniversary date.
Small Business Income Tax Offset
The Small Business Income Tax Offset provides small businesses with a tax offset of up to $1,000 per year. The offset is worked out on the proportion of tax payable on your business income.The Australian Taxation Office (ATO) will work out the amount of your offset based on your business income.
Fee-Free Apprenticeships NSW
Fee-free apprenticeships provide NSW businesses with free qualification training for apprentices, making it easier for employers to hire apprentices or to up-skill an existing employee. Businesses will benefit by having fully trained apprentices learning on the job and up-skilling existing staff.
Mentor Program NSW
The NSW Mentor Program aims to make NSW businesses safer and more productive. Large businesses share their experience, knowledge and resources to help small businesses find new ways to address safety. Small businesses can access a mentor to receive expert advice and assistance on workplace health and safety. A $500 safety rebate is also available. Large businesses can become a mentor for six months to share their knowledge and expertise on health and safety. The benefits of becoming a mentor include free publicity and networking with like-minded businesses.
Small Business Rebate NSW
The small business rebate provides a rebate to small business owners when they implement solutions for safety problems in their workplace. Rebates of up to $500 are available when purchasing eligible safety items.
Growth services provides access to skilled and experienced business advisers for up to two years to help your business develop the skills, knowledge, strategies and connections to accelerate growth in Australian markets and/or markets in other countries. Working with you, a business adviser will develop a growth plan to help you realise your Australian and/or export growth opportunity, then provide support, advice, mentoring and access to networks to get your plan working for you.
Sustainability Advantage NSW
With more than 500 participants saving a combined $95 million a year through the program, the Sustainability Advantage program assists organisations to improve environmental performance, reduce costs, increase competitiveness and improve reputation.
Apprentices and Trainees Payroll Tax Rebate NSW
A payroll tax rebate is available for employers in NSW who employ apprentices and new entrant trainees. The rebate works as a payroll tax offset based on the wages you’ve paid to apprentices and new entrant trainees. The rebate can be claimed monthly or annually as part of the monthly returns and annual reconciliation.
Industry Specific Grants
CSIRO Kick-Start is a new initiative for innovative Australian start-ups and small SMEs, providing funding support and access to CSIRO’s research expertise and capabilities to help grow and develop their business.
The program offers eligible businesses access to dollar-matched funding of $10,000-$50,000 to research a new idea, develop improvements or test a product or process developed by your company.
NSW-Israel Research & Development Technological Innovation Plan
The NSW-Israel Research and Development (R&D) and Technological Innovation Program will provide one-off matched financial grants of up to $250,000 to assist NSW entities cooperate with an Israel entity on joint research and development projects. The projects should advance market-driven, new and innovative products for the global market and have the potential to contribute to economic growth, skills development and job creation.
All industry fields are invited to apply, but NSW Department of Industry will contribute an additional 10% of total NSW R&D project costs to a maximum of $250,000 per project for projects based in regional and rural areas of NSW, businesses considered to be a startup or high growth or projects in the priority areas of cyber security, water management and agri-technology.
Australian Defence Industry Grants
The Australian Defence Industry looks for businesses and think-tanks that have the capacity to work on innovations that will improve the capabilities of the defence force. They provide seven programs as of early 2018, however for SME’s the most important is the Small Business Innovation Research for Defence (SBIRD) project.
SBIRD will support Small to Medium Enterprises (SMEs) to work on research projects aligned with defence priorities through the Next Generation Technologies Fund (NGTF). Each project must solve a future defence problem and funds will be directed towards research and commercialisation of proof of concepts.
Screen NSW Funding and Support
Screen NSW provides funding and resources to support the development, production and marketing of screen content made by New South Wales screen practitioners. This includes funding programs for development, production support, travel support and industry support.
For startups & SME’s going abroad
Export Market Development Grants (EMDG)
The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by Austrade, the scheme supports a wide range of industries. The EMDG scheme encourages small-and medium-sized Australian businesses to develop export markets, reimburses up to 50 per cent of eligible export promotion expenses and provides up to eight grants to each eligible applicant.
Landing Pads provide market-ready Australian startups and scaleups with access to some of the world’s most renowned hubs including San Francisco, Tel Aviv, Shanghai, Berlin and Singapore. You’ll have access to a 90-day residency in a co-working space, introductions to investors, mentor networks and strategic partners, access to a community that supports Australian entrepreneurs and business advice to help grow your business.