Beyond the numbers with Grant Thornton: Listen now
Current opportunities are in areas such as renewable energy, critical minerals, manufacturing, biomanufacturing, innovation, collaboration, and regional investment.
With a strong state budget, the Queensland Government is open for investment into strategic projects to boost the economy, create jobs, and prepare for the future.
If you run a business in Queensland, or are looking to invest in this jurisdiction, now is an opportune time to engage with open grant programs before the political cycle swings into gear ahead of next year’s October state election.
Government is an astute investor – so if grants are part of your funding mix, increase your chances of success by getting grant ready and securing the right guidance on preparing your investment pitch and application materials.
Read on to find out more about Queensland grant funding opportunities. If you are looking for a grant in another state or nationally, check out our August article. Also stay tuned for updates from next week’s New South Wales state budget!
Queensland has been a strong supporter of its advanced manufacturing industry, offering multiple streams of government support. Two long term, successful grant programs are available:
Supporting Queensland’s small-to-medium (SME) sized manufacturers to increase international competitiveness, productivity, and innovation via the adoption of new technologies and processes.
Who’s it for? SME manufacturers with upcoming capital investment in new equipment and processes.
Funding: Grants between $50,000 to $2.5m (matched funding).
Timing: Round six expected to open in October 2023, and close early December 2023.
Supporting SME manufacturers in five priority locations to be more productive, build advanced manufacturing capabilities and create jobs of the future.
Who’s it for? SME manufacturers in Cairns, Central Queensland, Gold Coast, Mackay and Townsville SA4 regions, that have upcoming investment in new technology, skills and training, business development, or wish to access advanced robotic manufacturing hub services.
Funding: Grants between $10,000 and $500,000 (matched funding)
As the world races to decarbonise its emissions, Queensland has defined new priority industry sectors in the Queensland new-industry development strategy. The strategy supports Queensland’s ambition to be recognised as a leader in renewable energy and an Asia Pacific hub for biomanufacturing and biorefining.
Recently refreshed with an additional $53.5m in program funding, this program aims to develop priority industries by encouraging private sector investment, supply chain development and job creation.
Who’s it for? Businesses with projects in new priority industries: critical minerals, renewable energy, battery, green hydrogen, biofuels and sustainable aviation fuels, circular economy, resource recovery and recycling; medtech, vaccine, digital health and other biomanufacturing/biorefining capabilities. Particularly if you are planning a major infrastructure project with job creation opportunities.
Funding: No funding cap.
Timing: Open.
Supports businesses across the critical minerals supply chain, from mining stage to the development of processing facilities and/or infrastructure, including the development and manufacturing of critical minerals, battery technology and advanced materials to position Queensland for next critical minerals resources boom. There are two streams available: a grants stream, and an investment stream.
Who’s it for? Businesses with critical minerals, battery technology and advanced materials projects in Queensland, which could include feasibility studies, pilot projects, manufacturing capability and early operational programs.
Funding: Grants of up to $2m, or government equity/debt investment up to $30m for growth-stage businesses looking to scale up activity.
Timing: Open.
Queensland also offers targeted support to mid-to-large sized businesses based in Queensland, interstate or overseas to significantly invest, expand or enhance new or existing operations in the state. The Invested in Queensland is an investment attraction program that offers a range of incentives and non-financial support mechanisms. It is particularly suited to companies with contestable projects – a project that could take place in a location other than Queensland.
Tailored assistance packages to support large-scale projects with significant economic benefits in terms of new jobs and wider supply chain and industry benefits.
Who’s it for? Mid-to-large businesses, based anywhere, operating in a priority sector, with a large-scale project (new investments, significant expansions, supply chain capability enhancements).
Funding: Assistance tailored to each project. Financial assistance includes cash grants for capex, rebates for payroll tax/other state charges, concessional loans or other tailored support.
Timing: Open.
Rebate program for payroll tax and other state-managed taxes, to incentivise transfer or expansion of operations.
Who’s it for? International or Interstate businesses considering new operations in Queensland or expanding existing operations. Queensland businesses with a contestable reinvestment decision.
Funding: Payroll tax and other state-managed tax rebates.
Timing: Open.
There are also regular funding programs to support Queensland’s vibrant start-up and innovation landscape. These include:
Commercialising highly innovative and new products or services that are at minimum viable product stage or beyond. Round 11 is open and has been a long-standing program to support Queensland’s innovators.
Who’s it for? QLD-based SMEs with high growth potential, with no more than 50 employees, looking to commercialise a new product or service.
Funding: Up to $200,000 for projects up to 24 months duration.
Timing: Open now, closes 29 September 2023.
Other Ignite programs like Ignite Spark (open until 31 October 2023), and Ignite Plus.
Flagship national program to support businesses investing in innovation, offering refundable R&D offsets (cash refunds) for entities with less than $20m aggregated turnover each financial year.
Queensland also offers targeted support to build its regional areas, supporting projects that provide economic benefits. Funding programs include:
Supporting regional innovation precincts and places to increase their capability to support long term economic growth and jobs for Queensland through smart infrastructure and technology upgrades.
Who’s it for? Queensland businesses within an innovation precinct, looking to invest in smart infrastructure, technology and upgrades that support future industry focussed collaborative projects.
Funding: Grants up to $1m.
Timing: Opening October 2023.
Supporting SMEs located in regional Queensland to increase productivity, long-term sustainability, and competitiveness.
Who’s it for? Queensland SME businesses, located in regional Queensland, with a project that may include adopting new technology/equipment, creating new jobs or upskilling existing staff, adopting practices to improve environmental sustainability, enabling new domestic and export growth opportunities.
Funding: TBC. Total program funding is $50m and will be delivered in a single competitive round.
Timing: Soon.
Industry collaboration is the backbone for increased innovation, knowledge sharing, and greater economic benefits that flow through supply chains. Queensland, like other governments, are always keen to support industry collaboration opportunities. Some funding opportunities include:
Supporting collaborations across regional Queensland and using innovation to solve challenges.
Who’s it for? Regional innovation leaders that collaborate with partners to unlock Queensland’s economic potential, by solving a significant problem or creating an opportunity for the regions. The project should create tangible benefits for regional communities, support industry strengths, remove barriers, and increase regional capability to contribute to future prosperity and resilience.
Funding: Grants up to $200,000 (matched funding).
Timing: Open now, closes 31 October 2023
Supporting researchers and industry to translate research outcomes into commercialisation opportunities for innovative services and products.
Who’s it for? Research and industry collaborative partners, with a high-quality research project that will lead to innovative new products, processes or services.
Funding: Grants of $500,000 to $1.5m (matched funding) for applicants in South-East Queensland or grants of $250,000 to $1.5m (25% co-contribution from applicants) for applicants in regional Queensland.
Timing: Open, closes 28 November 2023.
Federal Government’s program supporting collaborations between Australian SMEs and Singaporean businesses with ‘green economy’ projects that drive the decarbonisation of economic activities, or help Australia or Singapore to transition to net zero emissions.
Who’s it for? Australian SMEs with a project in a priority green area that include product/service strategy validation, technology and new product/service development, and small volume production/prototyping/minimal viable product (MVP) development. Priority green areas include renewable and clean energy; sustainable agribusiness and food; built environment and infrastructure; advanced manufacturing and sustainable materials; waste management and the circular economy; green transportation and logistics; energy efficient technology and products; environmental monitoring analysis and assessment; emerging green sector innovative products or services that align with green economy agreement initiatives’ priorities.
Funding: Australian SMEs can access grants up to $500,000 (matched funding). Your Singaporean partner may also access funding from the Singaporean government.
Timing: Open, closes 4 December 2023.
To learn more about how the government grants team can assist you with applying for grant funding in Queensland, contact Simone Barker today.
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