Money, Business and Finance

New grants announced for start-up businesses in Australia

by Ray Clancy on May 30, 2017

in Money, Business and Finance

People starting a business in Australia could benefit from $1.4 million in grants provided by the creation of four new hubs as part of the Government’s incubator support initiative, it has been announced.

New incubator hubs are being created in Brisbane, Sydney and the Hunter region of New South Wales and the services of an existing incubator in Adelaide will be expanded.

(tashatuvango/Bigstock.com)

‘These incubators will assist start-ups developing new products and services in advanced manufacturing, media and creative technologies and technology hardware, amongst other sectors,’ said Arthur Sinodinos, Minister of Industry, Innovation and Science.

There will be $196,265 for Flinders University to expand the New Ventures Institute to assist innovative advanced manufacturing focused start-ups in Adelaide and $474,535 for Slingshot Accelerator in collaboration with the University of Newcastle, to identify, invest in and support up to 16 Hunter region start-ups and assist potential entrepreneurs at the ideas stage.

It also means $500,000 for The Studio Incubator in Sydney which will foster and support new media and creative technology start-ups through accelerator programmes, education, networks and mentoring, links to private equity and capital, and access to studio facilities and other technology.

And there will be $268,674 for The Advance Innovation Hub in Brisbane which will provide hardware based start-ups with resources, technical knowledge and access to innovative prototyping and manufacturing equipment and industry specialists.

These new grants follow the announcement earlier this month of $500,000 for the Darwin Innovation Hub, also provided under the Incubator Support initiative.

‘The Government remains committed to the initiative, which is designed to assist new and existing incubators to improve the prospects of Australian start-ups for achieving commercial success in international markets,’ Sinodinos explained.

The $23 million Incubator Support initiative is part of the Entrepreneurs Programme and contributes to the continued implementation of the Australian Government’s National Innovation and Science Agenda.

{ 0 comments }

Thumbnail image for Australia Encouraging More Young People to Become Entrepreneurs

Australia Encouraging More Young People to Become Entrepreneurs

January 11, 2017 Australia

Australia has an entrepreneur visa for people from overseas wanting to invest in a new business, and now it wants young people already in the country to consider setting up an enterprise. The Encouraging Entrepreneurship and Self-Employment initiative has been launched to encourage young people to start their own business. Employment Minister Michaelia Cash says […]

Read the full article →
Thumbnail image for Australia urged to do more to attract technology entrepreneurs

Australia urged to do more to attract technology entrepreneurs

December 8, 2016 Money, Business and Finance

There is an ongoing debate in Australia as to how much immigrants give to the country, but now a new report says they should be encouraged as they give far more than many people think. Indeed, some 61% of Australia’s top 50 startup businesses were founded by immigrants or children of immigrants, according to a […]

Read the full article →
Thumbnail image for New fund to link Australia business with researchers around the world

New fund to link Australia business with researchers around the world

August 29, 2016 Money, Business and Finance

Researchers around the world looking to work with Australian businesses should find it easier to do so with the announcement of a new fund by the Australian Government. The bridging grants component of the Global Connections Fund encourages eligible businesses and researchers work together to gain a competitive edge in the global market place. According […]

Read the full article →
Thumbnail image for Top company bosses in Australia optimistic about economic outlook

Top company bosses in Australia optimistic about economic outlook

July 13, 2016 Jobs in Australia

The vast majority of top company bosses in Australia are optimistic about economic growth compared to their counterparts in other countries, new research has found. Some 92% of Australian chief executive officers are upbeat on the outlook for global economic growth outlook and 72% believe that the next three years will be more critical than […]

Read the full article →
Thumbnail image for Business activity growing in Australia but for many salaries are not

Business activity growing in Australia but for many salaries are not

June 15, 2016 Jobs in Australia

The jobs market outlook in Australia is positive but the chances of getting a decent salary increase less so, according to the latest research. Some 66% of employers will increase salaries by less than 3% when they next review and a further 12% expect to offer no increases, says the latest Salary Guide from Hays […]

Read the full article →
Thumbnail image for Latest research shows surge in interest in Australia from Japan

Latest research shows surge in interest in Australia from Japan

June 13, 2016 Australia Travel

Japanese visitors to Australia were up almost 50% and Chinese visitors up almost a third in April compared to the same month in 2015. Overall, Australia welcomed 610,800 international visitor arrivals during April, an increase of 10.6%, the fourth consecutive month of double digit growth in international visitor arrivals this year. Alongside those visiting Australia […]

Read the full article →
Thumbnail image for Australians love their aviation industry, new research shows

Australians love their aviation industry, new research shows

June 1, 2016 Australia Travel

Australia is known for many things including beaches, weather, kangaroos and koalas but it would seem that what many Australians like is the country’s aviation industry. New research has found that 46% of Australians want to work in the aviation sector including both men and women, all age groups and in every state apart from […]

Read the full article →
Thumbnail image for New faster trade programme announced in Australia

New faster trade programme announced in Australia

May 3, 2016 Money, Business and Finance

Doing trade with Australia is set to become faster and more streamlined with the unveiling of a $70 million programme creating a trusted trader environment. The Australian Trusted Trader (ATT) programme, a partnership between Government and private industry, is aimed at enhancing trade by improving the international competitiveness of Australian businesses. The Minister for Immigration […]

Read the full article →
Thumbnail image for Australian business events sector welcomes new visa arrangements for Chinese

Australian business events sector welcomes new visa arrangements for Chinese

April 27, 2016 Australia Travel

The introduction of online visa applications for Chinese people in Mandarin is being hailed as a positive step and one that is likely to result in an increase in visitors for both work and leisure. It is the first time that applications will be able to take place in a language other than English and […]

Read the full article →
Thumbnail image for Economic and jobs growth continuing in Australia

Economic and jobs growth continuing in Australia

April 14, 2016 Jobs in Australia

There have been concerns about the slowing economy in Australia but experts say that the underlying strength and resilience means the outlook for jobs and growth are there. The latest figures from the Australian Bureau of Statistics (ABS) show that the seasonally adjusted unemployment rate fell by 0.1% to 5.7% in March 2016 and seasonally […]

Read the full article →