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Grant open and funding tips: Ignite Ideas

April 18, 2018 by in News

For those that couldn’t attend the recent Ignite Ideas workshops held around Queensland recently, I’ve summarised some of the key points

This is a highly competitive grant – of the 1,235 applications received over the first 3 rounds, only 203 were successful.

  • You need to be market-ready or near to market-ready.  There will be future rounds, so if you’re not quite ready, it may be best to defer submitting an application
  • They are looking for projects that have capacity to scale-up to grow markets for Qld, and creating jobs.
  • Independent assessors read the applications, undertake desktop research, mark the scoring sheet
  • Start working on the Project Plan first
  • Ensure milestones are realistic as you will need to achieve or surpass them
  • You will require a succinct business plan/summary
  • High quality letters of support are critical – best to be from a paying or ‘pilot’ customer, major suppliers, specialist contractors or private funders
  • Understand the true costs of adoption – applicants don’t tend to spend a lot of time on this!  Realise how various costs, training, hurdles, maintenance, staff time etc will affect the cost of customers adopting your new product or service
  • Strengthen your application by including how you will manage risks
  • Note the various percentage weightings for the criterion, especially the benefits to Queensland and regional impacts – they need to be bigger than your own commercial success
  • Attachments need to be succinct and targeted – you might like to consider a PowerPoint slide prentation or slide deck

Applications are open until 9 May.  More information about the grant can be viewed on the website.

The Attracting Investment and winning customers webinar series might also be helpful for business managers to view.

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