The Australian Government has announced the Northern Australia Development Program – Industry Transformation Grant Opportunity for supporting medium to large enterprises in Northern Australia, including Indigenous businesses, to establish a new industry or significantly grow the value of existing industry and contribute to regional transformational change.
The Industry Transformation Grant Opportunity is part of the Northern Australia Development Program which focuses on economic diversification and job creation through support for scaling up and growing businesses, including Indigenous businesses, in Northern Australian communities.
The program has 2 elements:
- grant opportunities, including Business Development Grants and Industry Transformation Grants
- Business Advisory services, which give access to advice and services to build and strengthen businesses.
- Grants between $3 million and $10 million.
- Grant amounts can be up to 50% of eligible project expenditure.
- To be eligible you must have an Australian business number (ABN) and be one of the following entities:
- an entity incorporated in Australia and a trading corporation
- an incorporated trustee on behalf of a trust.
- Your trading activities must:
- form a sufficiently significant proportion of the corporation / trust’s overall activities as to merit it being described as a trading corporation / trust; or
- be a substantial and not merely peripheral activity of the corporation / trust.
- You must also:
- be a medium to large business – more than 20 employees
- have at least $6 million in eligible expenditure.
For more information, visit https://business.gov.au/grants-and-programs/northern-australia-development-program-industry-transformation