The Fostering Innovation Sponsorship Program in New South Wales provides funding to support events and initiatives that strengthen the innovation ecosystem. The program connects startups, investors, and industry, with sponsorships ranging from $10,000 to $40,000, helping foster collaboration, commercialization, and growth for innovation-intensive businesses across the state.
Overview
The Fostering Innovation Sponsorship Program is designed to drive equitable participation in the innovation sector, support startups in regional NSW and Western Sydney, and enable founders to commercialize ideas and scale operations. Funding is provided for events and initiatives that create meaningful impact for innovation-focused businesses while strengthening the broader innovation ecosystem.
Key Features
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Funding Amount: $10,000 – $40,000 (excluding GST), with flexibility at the Department’s discretion
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Purpose: Support activities that:
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Connect startups, investors, and industry
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Promote equitable participation across regional NSW and Western Sydney
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Facilitate commercialization and scaling of innovative ideas
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Strengthen the innovation ecosystem statewide
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Eligible Costs Include:
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Speaker fees, local airfares, and accommodation
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Event management and temporary labour expenses
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Marketing and promotional activities
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Venue hire, catering, and temporary equipment including AV services
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Utilities directly related to the activity
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Who is Eligible?
Applicants must:
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Be a legal entity with an Australian Business Number (ABN) or registered not-for-profit
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Be registered for GST and hold a business account with an Australian authorized deposit-taking institution
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For in-person events, maintain public liability insurance of at least $10 million
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Conduct activities within New South Wales aligned with the strategic priorities of the NSW Government and Investment NSW
How to Apply / How it Works
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Identify Eligible Activity: Ensure the event or initiative aligns with NSW Industry Policy and the NSW Innovation Blueprint 2035, targeting innovation-intensive businesses.
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Prepare Budget: Include all eligible costs, demonstrating that funding will be fully used for the activity within the financial year.
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Submit Application: Complete the application through the designated Department portal, including required financial and legal documentation.
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Funding Assessment: Applications are evaluated based on:
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Alignment with innovation ecosystem priorities
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Potential impact on startups and innovation-intensive businesses
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Feasibility and cost-effectiveness
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Funding Outcome: Approved applicants receive sponsorship funding, which can be used exclusively for the approved event or activity.
Why It Matters
This program strengthens the innovation landscape in NSW by:
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Enabling startups to access investors and industry networks
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Supporting commercialization of innovative ideas
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Promoting inclusive participation across regional and metropolitan areas
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Enhancing collaboration within the broader innovation ecosystem
Tips for Applicants
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Clearly demonstrate impact on startups and innovation-focused businesses
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Ensure all eligible expenses are justified and directly related to the activity
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Provide detailed budgets with accurate cost estimates
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Align proposed activities with NSW strategic innovation priorities
FAQ
1. What activities are eligible for funding?
Events or initiatives that connect startups, investors, and industry, and create measurable impact for innovation-intensive businesses in NSW.
2. What costs can the funding cover?
Speaker fees, local travel and accommodation, event management, marketing, temporary labour, venue hire, catering, utilities, and temporary equipment hire.
3. Who can apply?
Legal entities with an ABN or registered not-for-profits, registered for GST, holding a business account in Australia.
4. Are in-person events required to have insurance?
Yes, public liability insurance of at least $10 million is mandatory for in-person events.
5. Where must activities be held?
All funded activities must take place within New South Wales.
6. Is there flexibility in the funding amount?
Yes, while the typical range is $10,000 to $40,000, amounts outside this range may be considered at the Department’s discretion.
7. Can funding be used for ongoing operational costs?
No, funding must be directly related to the activity and incurred within the same financial year.
Conclusion
The Fostering Innovation Sponsorship Program empowers NSW startups and innovation-focused businesses by connecting them with investors and industry, supporting commercialization, and promoting collaboration. By funding impactful events and initiatives, the program strengthens the innovation ecosystem statewide while driving equitable participation across regional and metropolitan areas.
For more information, visit NSW Government.
