SMALL businesses with big ideas have the chance to get a boost from the federal government’s Industry Growth Program.
Stage 1 of the program allows innovative small-to-medium businesses to get advice from industry experts, with a particular focus on the early stages when businesses often have difficulty turning ideas into profitable products.
Stage 2 of the program will also provide matched grant funding for innovative small businesses with applications for grant funding expected to open in early 2024.
Grants between $50,000 and $5 million will be available, and businesses can apply for a grant after they receive a service report from their adviser.
Federal Member for Blair Shayne Neumann said, “If you’re a small or medium business with a big idea in Ipswich, the Somerset Region, Karana Downs and surrounding areas, I strongly encourage you to put your hand up for this service.
“This is about industry helping industry, and along with our $15 billion National Reconstruction Fund, the Industry Growth Program will ensure we deliver a future made in Australia.
“We have a lot of world-beating firms in our region, like Capral that produces aluminium for a wide range of products, including window frames, truck beds and solar panels.
“It was great to take Minister for Industry and Science Ed Husic on a tour of their factory in Bundamba a few months ago to see first-hand some of the exciting products they are manufacturing.
“With our new Industry Growth Program, we want to support more innovative local businesses like this, which means more high-skilled, well-paid local jobs into the future.”
A national network of industry experts is being established to provide advice on seeking investment, market testing, business models and networking.
These experts have been either founders of companies themselves or commercialisation experts in previous roles.
