Grant open and funding tips: Ignite Ideas
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.