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Apply for the Ignite Ideas Fund

News

Queensland startups and small businesses can apply for up to $250,000 in funding to advance their innovative products and services under Round 4 of the Advance Queensland Ignite Ideas fund, which is now open for applications.

 

About the program

Grants of up to $250,000 (excluding GST) to support activities that will test and implement commercialisation plans for a product, process or service that is market-ready; or in a local market and ready to scale into new markets; or has the potential to significantly disrupt or ‘step-change’ key industries in Queensland.

The Ignite Ideas fund aims to support startups and small to medium Queensland businesses to commercialise market ready innovative ideas that:

  • generate jobs today and in the future
  • enhance innovation and skilled job opportunities across regional Queensland
  • help Queensland businesses compete in global markets
  • grow Queensland’s reputation.

 

 

Eligibility

To be eligible for funding, organisations must be a Queensland based organisation and meet the following requirements:

  • be registered and head-quartered in Queensland
  • have less than 200 full time equivalent staff
  • be registered for GST (at time of application)
  • have a Queensland developed and owned (or rights assigned) highly innovative (new) product, process or service which is at, or beyond, minimum viable product or market ready stage
  • have a clearly defined project that has the potential to achieve high growth for the business and benefit Queensland’s economy
  • provide clear evidence of business skills and financial capacity to successfully deliver the project
  • provide clear evidence of demand or support from identified customers, industry partners, and/or investors.

 

In addition to the above, applicants for Tier Two funding must:

  • have been trading for two years or more
  • provide accountant prepared financial statements (including a profit and loss statement and balance sheet) for the previous two financial years.

 

 

How the program is assessed

Applicants are assessed through a competitive and merit based process, by a panel of independent external assessors on the following five criteria and assigned weightings:

  1. Innovation and market potential (25% weighting)
  2. Market readiness (15% weighting)
  3. Project planning, feasibility, budget and timeframes (20% weighting)
  4. Technical and management capability (15% weighting)
  5. Benefits to Queensland and regional impact (25% weighting).

 

How to apply

Submissions are now open.

Apply now

 

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