First Nations Innovation Acceleration Program QLD

Purpose and Program Overview

The First Nations Innovation Acceleration Program in Queensland aims to empower mature First Nations businesses to pursue innovation, scale, and grow. It provides a staged approach to help Aboriginal and Torres Strait Islander businesses and innovators expand.

The program intends to accelerate business deals through a combination of knowledge, funding, and connections to key financial networks. These networks include First Australians Capital, the Queensland Investment Council (QIC), the Queensland Indigenous Business Network (QIBN), the Queensland Treasury, and the Commonwealth Scientific and Industrial Research Organisation (CSIRO).

This program plays a role in bridging the economic gap, supporting First Nations businesses to contribute to Queensland’s economy, and creating a more inclusive and diverse economic landscape. It aims to create new jobs and engage with regional Queensland.

Key Grant Details

• Grant amount or funding range: Up to $100,000 for impact investment grants. The program also covers costs for business strategic advisory services.
• Application open and close dates: The program opened on 4 February 2025, and closes on 4 February 2027, at 9:00 AM.
• Eligible industries or business types: Established and operating Aboriginal and Torres Strait Islander innovative businesses in Queensland.
• Required co-contributions: Not explicitly stated as a cash co-contribution for the grants, but the program is designed to support growth and investment.
• Location/state/territory applicability: Queensland.

Priority Sectors

The program targets First Nations innovative businesses across various sectors. The focus is on supporting businesses that are developing innovative products or services and are looking to scale.

Funding Scope

• Minimum and maximum amounts per stream:
  • Impact Investment grants: Up to $100,000.
  • Business Strategic Advisory Services: Targeted funding to cover costs. Specific minimum/maximum amounts are not provided for advisory services.
• Categories or streams of funding:
  • Impact Investment: Direct grants to help businesses pursue innovation and take calculated risks.
  • Business Strategic Advisory Services: Provides a dedicated project leader and covers costs for support in areas such as business skills, legal, finance, marketing, mentoring, and grant/tender writing.
• Project timeline or eligible funding duration: Not explicitly stated for projects within the program. The program itself runs until February 2027.

Eligibility Criteria

• Business structure or size: Must be a First Nations owned business.
• Registered business location: Established and operating in Queensland.
• Minimum/maximum turnover: Not specified.
• Insurance or compliance obligations: Not specified in the provided information.
• ABN/GST status: Not explicitly stated, but Australian businesses typically require an ABN.
• Other requirements:
  • Currently developing an innovative product or service.
  • Seeking advisory support and possible funding to accelerate their innovation.
  • Must be a “mature” business looking to scale.

Eligible Activities and Expenses

The program supports activities and expenses related to accelerating the growth and innovation of First Nations businesses. These include:

• For impact investment grants: Activities that help businesses pursue innovation, take calculated risks, and support growth and wealth creation.
• For business strategic advisory services: Costs for essential business strategic advisory services, covering areas such as:
  • Fundamental business skills development.
  • Legal advice.
  • Financial management and planning.
  • Marketing strategies.
  • Mentoring.
  • Grant and tender writing assistance.

Assessment Process

The First Nations Innovation Acceleration Program is a competitive program. The assessment process involves evaluating applications from First Nations innovative businesses.

Key evaluation criteria will likely include:

• The business’s status as a First Nations owned entity.
• The innovative nature of the product or service being developed.
• The business’s stage of establishment and readiness to scale.
• The potential for the business to achieve growth and wealth creation.
• The capacity for the business to create new jobs and benefit regional Queensland.

Recent Program Updates

The First Nations Innovation Acceleration Program is currently open for applications, with a closing date of 4 February 2027. This indicates an ongoing opportunity for eligible First Nations businesses in Queensland. First Australians Capital manages the program.

Application Tips

Consider these points for your application:

• Demonstrate that your business is First Nations-owned, established, and operating in Queensland.
• Articulate the innovative nature of your product or service.
• Explain your business’s current stage of development and your plans for scaling.
• Specify how the impact investment and/or strategic advisory services will accelerate your innovation and growth.
• Highlight the potential for job creation and community impact within Queensland.

Where to Get Help

Consider consulting with a professional grant specialist, such as Pattens Group. We offer initial assessments to review your business’s eligibility and evaluate how well your project aligns with the grant’s objectives. You can also visit relevant government websites for application templates and further guidance.