Local start-ups encouraged to snare piece of funding pie

Existing and new business incubators in Townsville and throughout the North can now apply for grants to help local start-ups access advice, capital and gain valuable connections. 

Northern based LNP Senator Ian Macdonald said the $23million Incubator Support initiative would provide matching grants between $10,000-$500,000 for the creation of new incubators in regions or business sectors with strong links to international trade, and for existing, high performing incubators to expand their services.

“This initiative is focussed on bringing local businesses and expertise together, through an incubator, to increase collaboration and local knowledge,” Senator Macdonald said.

Senator Macdonald said it could be an opportunity to work on new relationships with Singapore following the billion dollar defence deal with that country, to be officially announced later this month.

“Right across the region we have a wealth of innovative and creative industries perfectly located to capitalise not only on this once-in-a-lifetime defence deal with Singapore, but also the north’s booming export market, and these grants are exactly the type of boost these smaller scale businesses need to get their foot in the door.

“Ultimately it’s about providing the opportunity and tools for local businesses to be competitive and it puts them and their ideas in the driving seat for potential success.”

Incubators can also access matching grants of up to $25,000 to engage experts-in-residence from Australia and overseas.

This means start-ups will have access to top quality research, managerial and technical talent they need to develop their capabilities and commercialise their ideas.”

Senator Macdonald encouraged interested businesses to come along to an information session in Townsville next week:

AusIndustry Townsville Office, 155 Hugh Street, Currajong

10.00am-11.00am Tuesday 11 October, 2016.

Cairns will host a session tomorrow (Wednesday 5 October); Mackay (Thursday 6 October) and Rockhampton (Thursday 27 October). Sessions are also being held in Bundaberg, Brisbane and Toowoomba later in the month.

To attend an information session, or for more information about the Incubator Support Initiative, including instructions on how to apply, visit www.business.gov.au/incubator-support or call 13 28 46.

The Incubator Support initiative is a new element of the Entrepreneurs’ Programme and is one of the measures under the Turnbull Government’s National Innovation and Science Agenda.


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