Building better incubators to support local start-ups
Existing and new business incubators across Wide Bay can now apply for grants from the Coalition Government to help local start-ups access advice, capital and connections.
Federal Member for Wide Bay, Llew O’Brien, said the Liberal Nationals Government’s $23 million Incubator Support initiative would provide matching grants of between $10,000 and $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.
“Business incubators are programs intended to help small businesses get off the ground and this initiative is focused on bringing local businesses together in new ways, to increase collaboration and local knowledge,” Mr O’Brien said.
“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 the top-quality research, managerial and technical talent they need to develop their capabilities and commercialise their ideas,” Mr O’Brien said.
“We need to ensure more innovative businesses can access the resources and networks they need to grow and achieve success on the world stage. I hope this initiative will help start-ups to quickly scale-up and launch into global markets.”
The Incubator Support initiative is a new element of the Entrepreneurs’ Programme and is one of the measures under the Coalition Government’s National Innovation and Science Agenda.
Applications are now open. To view further information, guidelines and to apply visit: www.business.gov.au/incubator-support