SA Research and Innovation Fund Stream 3 (RIF)

Purpose and Program Overview

The SA Research and Innovation Fund Stream 3 program is a South Australian Government initiative. It is designed to support the growth of the state’s innovation ecosystem. It provides funding for programs, projects, events, and activities that benefit the startup and entrepreneurial community. The fund aims to drive innovation, commercialisation, and attract talent, investment, and market opportunities. This supports the creation of high-value jobs, revenue, and exports.

With funding from $20,000 to $500,000, Stream 3 focuses on initiatives such as entrepreneurship support, industry collaboration, and accelerator or incubator programs. This stream is important for solidifying South Australia’s position as a competitive innovation hub. It does this by building capacity, accelerating startup growth, and encouraging broader participation in research and commercialisation.

The fund is part of a broader state strategy that aligns with the South Australian Economic Statement. It encourages sustainable economic growth by fostering partnerships between businesses, researchers, universities, and investors. This helps solve industrial challenges and commercialise new technologies and products.

Key Grant Details

• Grant amount: $20,000 to $500,000. Higher funding is considered in exceptional cases.
• Application open: The program is ongoing.
• Application closes: There is no fixed closing date. Applications are assessed in rounds.
• Eligible industries/business types: Incorporated Australian companies, research institutions, and non-tax-exempt businesses registered for GST. Applicants must be operating or planning to operate in South Australia.
• Required co-contributions: Co-contributions are required. They can be cash or in-kind. The amount is determined on a case-by-case basis.
• Location/state/territory applicability: South Australia only.

Priority Sectors

Research and Innovation Fund Stream 3 Program supports a broad range of industries. It focuses on sectors tied to South Australia’s economic priorities. This includes:

• Creative Industries
• International Education
• Defence Industry
• Mining and Mineral Processing
• Food, Wine and Agribusiness
• Space Industry
• Green Technology and Circular Economy
• Tourism
• Health and Medical Industries
• Hi-tech and Modern Manufacturing

Funding Scope

• Minimum and maximum amounts: $20,000 to $500,000 per project or program.
• Categories/streams supported:
  • Innovation and entrepreneurship programs.
  • Industry collaboration projects.
  • Startup accelerators and incubators.
  • Events that benefit the startup ecosystem.
• Project timeline: Project duration is flexible. The maximum project duration is three years.

Grant Amount in Total

The total funding pool is not publicly detailed. The program is part of the broader RIF allocation. It is managed by the South Australian Government.

Eligibility Criteria for Stream 3

• Applicants must be companies incorporated in Australia with an active ABN.
• Applicants must be non-tax-exempt and GST-registered businesses.
• Applicants must be registered or committed to operating in South Australia before the project starts.
• Projects must align with the South Australian Economic Statement and RIF Investment Principles.
• Applicants must show they can provide co-contributions and are financially viable.
• Applicants must comply with South Australian laws and regulations.

Eligible Activities and Expenses

The program funds activities that support the innovation ecosystem. This includes:

• Entrepreneurial development and learning.
• Facilitating startup visitor delegations to markets and investors.
• Funding accelerator or incubator support programs.
• Hosting regional or nationally significant events for startups and innovation.
• Collaboration projects that stimulate commercialisation and investment.

Assessment Process

This is a competitive, merit-based assessment. It is done by an expert panel. The key criteria include:

• The project’s alignment with the government’s economic and innovation strategies.
• The strategic impact on South Australia’s innovation ecosystem.
• The project delivery team’s capability and governance arrangements.
• Value for money and risk management.

Recent Program Updates

Updated guidelines and application processes were published in July 2024. The program has an increased focus on collaboration, inclusivity, and ecosystem-wide impact. It provides enhanced support for regional and diverse startup communities. The ongoing application intake allows for flexible application timing.

Application Tips

• Ensure your project clearly aligns with South Australian innovation and economic goals.
• Show the capability, qualifications, and experience of your project delivery team.
• Provide detailed descriptions of project outcomes, how you will measure impact, and how you will mitigate risk.
• Include a transparent budget with evidence of cash and in-kind co-contributions.
• Engage early with State Development officials or grant advisers for guidance.
• Submit a comprehensive application. This allows time for feedback and adjustments.

Where to Get Help

Consider consulting with a professional grant specialist such as Pattens Group. We offer tailored advice and assistance for Research and Innovation Fund Stream 3 applications. Official application forms and guidelines are available on the South Australian Government Department of State Development website.