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Made in Victoria – Industry R&D Infrastructure Fund

10 July 2023 | By Business Victoria

The Industry R&D Infrastructure Fund will incentivise Victorian companies to make new investments in new or enhanced R&D infrastructure to support the growth of Victoria’s R&D capability across key industry sectors and further business expenditure on R&D.

Expressions of Interest are open

About the Fund

The benefits created by the funding can be to a business, or to an industry, or to both, but must be able to show how the project will increase Victoria’s business expenditure on R&D in the medium to longer term.

The program will support new R&D infrastructure projects aligned to Victoria’s priority industries as identified in the Made in Victoria: 2030 Manufacturing Statement, including:

  • new energy technologies, including wind, hydrogen, solar and batteries
  • health technologies, including medtech, biotech, pharma and consumer healthcare
  • food manufacturing and agriculture
  • defence, aerospace and space
  • digital and advanced technologies, including advanced materials, robotics, AI (Artificial Intelligence), 3D-printing, and quantum technologies.

Projects aligned to other industry sectors may also apply for funding.

To support business investment in R&D as a key driver of innovation and economic growth this program will:

  • directly support industry investment in new or enhanced R&D infrastructure to increase R&D activity
  • enable high quality collaboration and mutually valued research between industry, universities and/or research providers
  • deliver broader spill-over benefits from the investments, particularly in manufacturing, strengthening supply chains and in up skilling the workforce, with a focus on priority industry sectors
  • support R&D infrastructure that will strengthen the capability of Victorian industry to respond to opportunities in emerging areas of innovation.

Eligibility

The Industry R&D Infrastructure Fund is open to:

  • businesses that have identified key research and development equipment/infrastructure that will support their R&D activities and anchor their operation in Victoria
  • businesses that provide R&D services.

Successful applicants will need to complete the project activities within 12 months. Successful applicants may negotiate project timelines beyond 12 months on a case-by-case basis.

To be eligible the organisation must:

  • be a business operating in Victoria with an Australian Business Number (ABN)
  • employ at least 20 FTE (full-time equivalent) staff or have an annual turnover between $1.5 to $100 million
  • agree to meet all industrial relations obligations as an employer, in accordance with the National Employment Standards
  • agree to adhere to and enforce Victoria’s Climate Change Act 2017, the Fair Jobs Code (2018), the Local Jobs First Policy (2018) and Gender Equality Act (2020)
  • demonstrate why government funding is necessary to achieve the project outcomes or would lead to improved outcomes.

Grant amount

The program provides grants of up to 50% of eligible project expenditure with all grants requiring a minimum 1:1 co-contribution from the applicant. The minimum grant amount is $250,000 (excluding GST) and the maximum grant amount is up to $2 million (excluding GST).

Funding will not be provided for retrospective activities, i.e., where project expenditure is incurred prior to acceptance of a letter of offer. Applicants that commence their projects prior to execution of a grant agreement do so at their own risk.

Approval for funding is independent of and does not guarantee entitlement to the tax offset under the Australian Government’s R&D Tax Incentive (R&DTI). Applicants are responsible for seeking specialist advice concerning any implications of grant funding towards future tax claims under the Australian Government’s R&DTI.

Funds from other Victorian or Australian Government programs cannot form part of the co-contribution. Full project expenditure, including grant funding and co-contribution funding, must be spent on eligible project activities as detailed in the program guidelines.

How to apply

There is a two-stage application process. Expressions of Interest open on Thursday 6 July 2023 and close at 5pm on Friday 18 August 2023.

Successful Expression of Interest applicants will be invited to apply to Stage Two and submit a more detailed application, including a project plan,  project budget, financial reports for the past three years, evidence of 1:1 co-contribution, business plan, risk management plan and letters of support.

An invitation to submit an application to Stage Two does not guarantee funding will be approved.

Potential applicants are encouraged to carefully consider their ability to meet the program requirements and how they will perform against the assessment criteria before committing significant resources to developing an application.

Expressions of Interest open on Thursday 6 July 2023 and close at 5pm on Friday 18 August 2023.

Grants and funding

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