On the 20^th September 2016, the Minister for Industry, Innovation and Science, Hon Greg Hunt MP, announced the Incubator Support initiative. The Australian  Government has committed $23 million over four years (2017-2020) to this initiative which seeks to provide additional support services to startups focusing on international trade.  

The initiative includes two schemes:

1. New and Existing Incubators

Aims to (a) help develop new Incubators in regions or sectors with high potential for success in international trade, and (b) boost the effectiveness of high performing Incubators, including funding support to expand their services and/or develop the innovation ecosystem.

2. Expert in Residence

Aims to organise and provide access to top quality research, managerial and technical talent through secondments of national or international expert advisers who will improve the chance of commercial success for start-ups in international markets.

Overview

	New and Existing Incubators	Expert-in-Residence
Minimum amount	$10,000	$1,000
Maximum amount	$500,000	$25,000
Grant Period	24 months	12 months

Applicants can apply for up to 2 projects at a time. 1:1 matched funding is required which can be a mix of cash (40%) and in-kind (10%) contributions:

Merit Criterion

The merit criterion only applies to New and Existing Incubators. Expert-in-Residence is based on eligibility only.

1. Management and business capability (40 points)
2. Expected impact and benefits of project (50 points)
3. Value for money (10 points)

Am I eligible?

Eligible organisations must:

• have an Australian Business Number (ABN),
• be an existing incubator (or be establishing a new incubator), and
• be one of the following:
  • an entity incorporated in Australia
  • an incorporated trustee on behalf of a trust
  • a not for profit organisation
  • a publically funded research organisation (PFRO)
  • local government.

Where do I go for more information?

W: https://www.business.gov.au/assistance/incubator-support 

E: 

Those organisations considering applying are encouraged to reach out to Startup Tasmania via [email protected].