Deadline: 30-Oct-22
Wyndham City is now accepting applications for its 2023 Small Business Entrepreneurship and Innovation Fund to support businesses within the City boundaries to develop innovation, encourage collaboration and build entrepreneurship capacity that generates long term business sustainability and regional growth containment.
Funding Streams
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The Fund is divided into two funding streams:
- Stream 1: To be eligible for the Business Start-Ups and Early-Stage Enterprises funding stream of the Fund (Stream 1), the registration of the business’s Australian Business Number (ABN) must be dated 1 July 2020 or later.
- Stream 2: To be eligible for the Business Growth Builders funding stream of the Fund (Stream 2), the registration of the business’s Australian Business Number (ABN) must be a date 30 June 2020 or earlier.
Funding Information
- A maximum of $10,000 exclusive of GST is available per application
Eligibility Criteria
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For the purposes of the Fund businesses which meet the following structures may apply:
- non-employing businesses – sole proprietorships and partnerships without employees;
- a business that employs five or less people including business owner(s), on either a full or part time basis (‘micro business’)
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Applications will not be accepted from:
- Local, state or federal government agencies;
- Council staff, Councillors or their immediate family members;
- Individuals or businesses without an ABN;
- Applicants who have an outstanding debt to Council or who have failed to provide satisfactory acquittal reporting for any previous Council funding;
- Businesses that have an adverse effect on public health, safety, the environment, or heritage, or whose activities do not align with Council’s values;
- Businesses that are undergoing any form of insolvency event;
- Businesses that received funding under Council’s Small Business Entrepreneurship and Innovation Fund in either 2021 or 2022
Assessment Criteria
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Stream 1 Business Start-ups:
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In assessing applications from new enterprises or entrepreneurs who are developing a new product or service to market the assessment panel will give due consideration to:
- Evidence of a current level of own investment (including financial and personal time) to the project
- Evidence of there being a reasonable stage of development in place
- Evidence that a proof of concept and proof of opportunity for their chosen market(s) has been achieved
- Demonstration of a level of understanding of the progression of stages required to commercialisation
- Evidence of possessing at least a general understanding of the proposed business model
- Capacity to qualify the specific value generated from funds being introduce
- Demonstrated understanding of balancing business growth with environmental sustainability
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In assessing applications from new enterprises or entrepreneurs who are developing a new product or service to market the assessment panel will give due consideration to:
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Stream 2 Business Growth Builders:
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In assessing applications from existing businesses which are seeking to grow scale the assessment panel will give due consideration to:
- Evidence that the application of funds will facilitate/drive the expansion of the current business model – same offer, same market
- Evidence that the application of funds will facilitate/drive the identification and penetration of new markets
- Development of new products or services to initiate a ‘pivot” required by competitive forces.
- Capacity to qualify the specific value generated from funds being introduced
- Demonstrated understanding of balancing business growth with environmental sustainability
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In assessing applications from existing businesses which are seeking to grow scale the assessment panel will give due consideration to:
For more information, visit Wyndham City.
For more information, visit https://www.wyndham.vic.gov.au/services/business-investment/business-support/small-business-entrepreneurship-and-innovation-fund
