state government grants to help your small business

Smart company recently listed the  State Government Grants to help small business: 2016. We have just pulled out the Queensland options, this is not the complete list of all the grants available but when it comes to Business Grants, knowing where to start looking can be half the battle.

Queensland

Ignite Ideas Fund

How much? Up to $250,000

How does it work?

The Ignite Ideas Fund is part of the Queensland Government's Advance Queensland initiative to support businesses across the state.

Under this program, businesses can receive Tier 1 grants of up to $100,000 or Tier 2 Grants of up to $250,000 to go towards proving their business idea will work or identifying a market or investor for the product.

To be eligible, businesses must: have fewer than 200 employees; be incorporated in Queensland; be registered for GST; demonstrate the idea can achieve high growth and create jobs; have a minimum viable product; and show support for the project from customers, industry partners or investors.

Applications for the second round of funding under the program open on September 12. More information is available here.

Business Development Fund

How much? Between $125,000 and $2.5 million

How does it work?

Also part of the Advance Queensland initiative, the Business Development Fund is aimed at businesses that are in the process of commercialising research or an innovative product or service.

Businesses in need of seed, early stage or follow-on investment can receive between $125,000 and $2.5 million from the program if they can demonstrate the business will create new, skilled employment and is commercially viable.

Applications are currently open and more information is available here.

Knowledge Transfer Partnerships

How much? Up to $50,000 per project

How does it work?

Businesses that wish to hire a graduate to work on an innovative project can receive up to $50,000 per project under this government scheme.

The funding is intended to cover two-thirds of the project's costs, with the business required to cover the remaining one-third.

To be eligible, businesses must have fewer than 200 full-time employees; have been operating for at least two years; have an ABN and be registered for GST; and be prepared to manage the project in collaboration with a university.

Applications for the fifth round of funding will close on October 7. More information is available here.