The Ignite Ideas Fund provides funding for small to medium size businesses and start-ups to help commercialise new and innovative products, processes and services.

What you get?

Funding amount varies.

Who is this for?

Small to medium size businesses and start-ups.

Overview

Ignite Ideas Fund provides funding to small to medium businesses or start-ups to help them commercialise market ready, innovative ideas that:

• create new jobs
• strengthen key industries in Queensland
• diversify the Queensland economy
• facilitate competing in a global market
• engage and/or benefit regional Queensland.

Funding is available under 2 tiers:

• Tier 1 – funding of up to $100,000 (excluding GST) for projects of up to 12 months duration
• Tier 2 – funding of between $100,000 and $200,000 (excluding GST) for projects of up to 24 months duration.

The funding may be used for eligible costs related to taking an innovative product, process or service from minimum viable product to market, including:

• salaries of project staff (including salary-related-on-costs)
• services provided by (unrelated) external parties
• consumables and equipment
• travel, accommodation and subsistence costs.

Applicants must make matched funding contributions. The amount required will vary according to the funding tier applied for.

What are the eligibility criteria?

To be eligible, you must:

• be a business headquartered in Queensland
• be registered for goods and services tax (GST)
• have no more than 50 full time equivalent employees
• not be a subsidiary of a group of companies that has more than 50 full time equivalent employees in total
• not have received, or currently be receiving, Queensland Government funding for the proposed project activity.

How do you apply?

Find out more about eligibility and how to apply at Ignite Ideas Fund- external site: https://advance.qld.gov.au/entrepreneurs-and-startups-industry-small-business/ignite-ideas-fund

Contact information

advancequeensland@qld.gov.au
13 74 68