Startups succeed or fail based on the cash they can access.

So where can you get cash to give the business the best chance of success?

There are 4 options:

  1. Use your owns funds
  2. Secure a loan from a bank.
  3. Find investors – Family and Friends.
  4. Access government grants

Every year there are over $50b in grants available to assist businesses.

Here’s a list of top government grants for startups and businesses in Australia.

  1. R&D Tax Incentive
    Companies can receive a refund of 43.5% as a tax free payment for developing novel technology. It is ideal for startups and SME that have losses.If the company spends $100,000 of eligible R&D activities for an eligible project the government will refund $43,500. It’s a self-assessment scheme so it is important to ensure you meet all the requirements. This program requires the appointment of a grants specialist – not an accountant.
  2. Export Market Development Grant
    Reimbursement of up to $150k for export marketing costs calculated on 50% spend. The business must be the principle in the transaction and promoting Australian products or services. The first claim can include eligible expenses for the last 2 financial years with no export sales required. Great for startups with a focus on overseas markets, appointing overseas distributors or selling to tourists.
  3. Accelerating Commercialisation
    Grants of up $1m for 50% of eligible project expenditure are available to assist in the commercialisation of novel products, processes and services for a maximum project period of two years. Approval is received in advance through a competitive 2 part application.
  4. CSIRO Kick-Start
    Matched funding of $10,000 to $50,000 is available for start-ups and SMEs to work collaboratively with the CSIRO on projects up to 1 year.

Innovation Connections
This program encourages eligible SMEs to collaborate with publicly funded research organisations by providing relatively easy and accessible funding of up to $130,000.