Federal industry minister Ed Husic says a new grants program for not-for-profit industry bodies will enable them to provide expert, sector-specific advice to participating start-ups and scale-ups.
The Industry Partner Organisation (IPO) grants are part of the government’s $392.4 million Industry Growth Program, which was announced in November.
“Industry Partner Organisations will add critical sector-specific know-how to ensure small and medium businesses with big ideas have the best chance of success.
“Industry organisations are completely immersed in their sectors and can offer unique and invaluable advice and support to smaller and newer operations,” Husic said.
Eligible organisations will receive between $500,000 and $2 million over two years to help SMEs get their ideas off the ground and grow their businesses.
Those that are successful will provide specialised advisory services in National Reconstruction Fund (NRF) priority areas, which could include industry connections and opportunities for investment, specialised facilities, and support with IP creation.
They will provide additional sector-specific links and knowledge to complement the work of the recently appointed Industry Growth Advisers (see below), who provide advice and support to innovative SMEs to commercialise ideas and significantly grow their business operations, the government said.
Applications for the IPO grant opportunities close on 16 February 2024. For more information or to apply, click here.
More information on the Industry Growth Program is here.
Industry Growth Advisers
