Ignite Ideas Fund – Expressions of Interest are now open.
R&D Tax Incentive - 08 Jul 2021
Drum roll please…
Applications for the Ignite Ideas Fund round 8 Expression of Interest (EOI) are currently open until 22 July 2021 at 10 am AEDT. Ignite Ideas is looking to support commercialisation of new and highly innovative products and services that are at a minimum viable product stage or beyond.
This grant program recognises how hard it is to commercialise a product and that the innovation process can be an arduous and costly exercise for businesses, so when funding opportunities become available, you should strongly consider these as part of your overall get to market and growth strategy.
Funding is available under two tiers:
- Tier 1 – up to $100,00 for projects up to 12 months duration
- Tier 2 – greater than $100,00 and up to $200,000 for projects of up to 24 months
This is a competitive funding opportunity with a cash co-contribution requirement that can fund eligible cost categories such as:
- salaries of project staff (including salary-related on-costs)
- services provided by (unrelated) external parties
- consumables and equipment
- travel, accommodation, and subsistence costs
To be eligible, you will be an innovative, Queensland based, small to medium sized business (with less than 50 full time employees), registered for GST, with high growth potential, seeking to commercialise a new product or service that will:
- strengthen key industries in Queensland
- diversify the Queensland economy
- compete in domestic and global markets
- engage and/or benefit regional Queensland
- create new jobs, now and into the future
If this sounds like you, reach out to our experienced grants team at ABA Legal Group today to see how we can assist you with this stage 1 (EOI) application before it is too late.
The information contained in this blog is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. In all cases, you should consult with a professional advisor familiar with your factual situation for advice concerning specific matters before making any decisions. By reading this blog, you confirm your understanding of this disclaimer.