The Business Growth Fund Program is a grant program for Queensland- based small and medium businesses. $50,000 (excluding GST) may be provided for eligible businesses seeking to expand by way of purchasing and implementing highly specialised equipment or services.
Your business must have the potential for high-growth within the next 2 years. High-growth is generally considered to be a 20% increase in turnover or employment.
A co-contribution from the successful applicant of between 25% and 50% of the total project cost is required. The government contribution will be determined by an assessment panel.
Highly specialised equipment or services may include:
› Production equipment to meet otherwise unachievable growth demand
› Advanced digital equipment and systems (e.g. 3D printers, scientific equipment or medical devices)
› Advanced logistics systems and equipment
› Engage business consultants or advisors to provide advice (e.g. on business structures and governance, systems improvement, export and commercial negotiations)
› Intellectual property (IP) advice
› Engage an advisory board
Round 2 of the program is now open, with applications closing on 17 February 2020.
For more details visit the Queensland government website here.
MBIP can provide formal cost estimates for IP-related work if these are required to support a grant application.
In addition, we can provide you with details of consultants who may be able to assist you with the grant application process.