IGNITE IDEAS

Ignite Ideas funding is available to commercialise highly innovative and new products or services that are at minimum viable product stage or beyond.

ABOUT THE GRANT

The Ignite Ideas Fund supports Queensland based small to medium businesses that have high-growth potential to undertake commercialisation projects that will:

  • strengthen key industries in Queensland
  • diversify the Queensland economy
  • compete in domestic and global markets
  • engage and/or benefit regional Queensland
  • create new jobs, now and into the future.

Ignite Ideas funding is available to commercialise highly innovative and new products or services that are at minimum viable product stage or beyond.

Ignite Ideas funding will not support the development of a concept for a new business, the further development or improvement of an existing product or service, or to expand into new markets if the product or service is already in a market.

    KEY DETAILS

    Opening Date: 1 July 2021

    Closing Date: 10.00am on Thursday 22 July 2021

    Funding Total & Project Duration:

    • Tier 1: Up to $100,000(excluding GST) for projects of up to 12 months duration.
    • Tier 2: Greater than $100,000 and up to $200,000 (excluding GST) for projects of up to 24 months duration

    Grant Style: Competitive (2 Stage)

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      Eligibility Criteria

      Is your business eligible?

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      To be eligible for funding, applicant organisations must at the time of application:

      • be a business headquartered in Queensland
      • have no more than 50 full-time-equivalent employees
      • not be a subsidiary of a group of companies that has more than 50 full-time-equivalent employees
      • not have received funding for the proposed project activity from either the State, Federal or Local Government
      • be registered for GST (at time of Full Application submission).

      If applying for Tier 1, the applicant organisation and/or related parties must:

      • not have received an Ignite Ideas Fund grant previously
      • make a cash contribution to the project that is at least equal to 20% of the value of funding sought.

      If applying for Tier 2, the applicant organisation and/or related parties must:

      • not have received an Ignite Ideas Fund Tier 2 grant previously
      • not be applying for a product or service that has previously received Ignite Ideas funding
      • have successfully completed any project funded under Tier 1 of the Ignite Ideas Fund (if relevant)
      • make a cash contribution to the project that is at least equal to the amount of funding sought
      • have been registered with the Australian Securities and Investments Commission (ASIC) prior to 1 July 2019
      • must provide at the time of full application evidence of their ability to meet the required matching funding contribution in the form of a declaration from a suitably qualified independent party (Member of: Institute of Charted Accountants, CPA Australia, Institute of Public Accountants)

      Organisations and their related parties are limited to one application per funding round. 

      Eligible projects

      Is the project you want to undertake eligible for Ignite Ideas?

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      Ignite Ideas Fund projects should focus on activities that commercialise a new and innovative product or service and fall within the following eligible cost categories:

      • salaries of project staff (including salary-related on-costs)
      • services provided by (unrelated) external parties
      • consumables and equipment
      • travel, accommodation and subsistence costs.

      It is expected that all Ignite Ideas funding will be expended in Queensland, unless it can be demonstrated that expenditure outside Queensland is essential to ensure successful delivery of the project.

      Application Process

      What does the process look like?

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      Step 1 – EOI: Complete an online application for competitive shortlisting assessment (Closing date 22 July 2021)

      Step 2: Full Application: Shortlisted EOI Applicants are invited to submit a detailed full application for assessment.

      Step 3: Funding Support: Successful applicants will be offered funding support.

      Let’s Get Started

      Want help with your application?

      Contact Erik today to see how we can help you!