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Industry Growth Program launches advisory service for SMEs

The Industry Growth Program has rolled out a game-changing advisory service, aiming to empower startups and innovative small-to-medium enterprises (SMEs) on their journey to market success. 

The program introduces a national network of Industry Growth Program Advisers, designed to deliver personalized guidance during the pivotal early stages of business development, where translating ideas into profitable products can be particularly daunting. Led by the newly appointed Executive Director, David Chuter, the program not only ensures comprehensive support for advisers but also positions Chuter as the public face of this transformative initiative. His role extends to providing crucial backing to industry partner organizations and leveraging expertise in priority sectors to amplify the program’s impact.

What do you get?

Effective from 2024, businesses benefiting from the advisory service may seize the opportunity to apply for grants ranging from $50,000 to $250,000, specifically crafted to bolster early-stage commercialization projects.

Furthermore, substantial grants ranging from $100,000 to $5 million will be accessible for businesses engaged in commercialization and growth projects, contingent upon alignment with the National Reconstruction Fund’s priority areas.

Industry Growth Program Grants will open in 2024.

Who is this for?

Innovative small and medium enterprises with commercialisation and/or growth projects in one or more of the National Reconstruction Fund priority areas.

Recognizing the pivotal role played by innovative SMEs and startups in the economy, the Industry Growth Program is geared towards easing the challenges these businesses face in bringing their groundbreaking ideas to market fruition. By aligning with the National Reconstruction Fund’s priority areas, including renewables, medical science, and defense capability, the program aims to not only foster innovation but also stimulate economic growth in key sectors.

Check if you can apply

You can apply if you meet the eligibility criteria. The eligibility criteria are a set of rules that describe who we can consider for the Advisory Service. You can apply if you:

are an eligible entity

have an eligible innovative product, process or service in one or more of the NRF priority areas.

The rules are in the program information guide.

About the Program:

The Industry Growth Program supports SMEs in commercialization or growth projects in priority areas outlined by the National Reconstruction Fund. These sectors include renewables, medical science, transport, agriculture, forestry, fisheries, resources, defense capability, and enabling capabilities. The program strives to aid businesses in commercializing ideas, expanding operations, and positioning themselves for national and international market engagement, paving the way for future investment opportunities.

Program Dynamics:

Advisory Excellence: Industry Growth Program Advisers strategically stationed across Australia provide tailored advice to facilitate commercialization and growth projects.

Grant Opportunities: Businesses benefiting from advisory services may become eligible to apply for grants starting in 2024.

In addition to these core elements, industry bodies will contribute specialized sectoral expertise, advice, and services, further solidifying the program’s commitment to driving innovation and transforming Australia’s economic landscape.

Click here to apply:

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