Program Structure

The program will be conducted in three phases. The first phase, Feasibility Study, will require SMEs to submit proposals to address one of the challenges mentioned above. They will be required to establish technical basis and commercial feasibility of their proposed solutions. Successful applicants will be given a grant of up to $100,000 for a project of up to 3 months. These applicants can then apply for Phase 2, which is Proof of Concept. They will be given funding of up to $1 million worth to finance a more in-depth demonstration of their solution for up to 15 months. The last phase, Procurement, is where successful participants will work with the NSW government to implement the solutions. Grant amounts will be up to 100% of eligible project expenditure and will depend on the project budget presented in the application.

Eligibility

To be an eligible applicant, interested companies must:

• have an Australian Business Number (ABN) 
• either be based in NSW or carry out most of its R&D and production operations in NSW 
• hold the intellectual property (IP) and commercialisation rights for the proposed solution.
• attempt to carry out program-related R&D activities in NSW if successful

The applicants must be one of the following entities:

• a small or medium-sized business with less than 200 full-time equivalent (FTE) employees 
• an individual or partnership, given that the applicant will form a company within Australia to enter into a grant agreement
• an NSW public research organisation submitting the application through its appropriate technology transfer office, provided that the applicant will create a company within Australia to enter into a grant agreement.

To enter Phase 1: Feasibility Study, companies must submit:

• an application answering all questions relating to the criteria, which is in 8. Assessment Criteria of the SBIR Guidelines for Applicants
• 3-minute max video presentation 
• profit-and-loss statements from the last two years
• balance sheets from the last two years
• project budget

The closing date for Phase 1 of this program is on 28 February 2023 at 9:59 AEST.

Unlike the R&D Tax Incentive, the grant is competition-based. For Phase 1, the applications will be assessed against three criteria: Solution (30 points), Commercial (30 points), and Delivery (30 points). 

To know more about criteria and other application requirements, you may visit the guidelines for applicants or the official call.

If you need help, we at Innercode can assist you with your application to better highlight how your project meets the criteria to increase your chances of getting this grant. The first consultation is free.