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Advance Queensland – IndustryTech Fund

Overview

This program aims to deliver a transformative 'step change', speeding the emergence of new or significantly improved products and services based on platform technologies, with global potential across industry sectors. It provides investment for collaborative research and development activities, focusing on technology platforms such as unmanned aerial vehicles for application in aerospace, defence, agriculture, oil and gas field management, disaster management, environmental monitoring and more.

The program forms part of the Advance Queensland Program which is designed to create the knowledge-based jobs of the future, drive productivity improvements and build on Queensland's natural advantages.

Funding between $250,000 and $5 million is available per project. Projects will be funded at a minimum 1:3 ratio of government-to-applicant funding.

The cash contribution from the lead applicant and their partners may include contributions from governments other than the Queensland government. However, the cash contribution from private sector sources must be at least 25% of the project costs. The cash contribution must be new investment.

The application is a two-stage process:
- Stage 1: Expression of interest
- Stage 2: Full application invitation

Who Can Apply?

Eligible lead applicant funders must:
- Be a business (GST-registered, with an ABN).
- Have total cash contributions (from the applicant and partner organisations) that are at least three times greater than the ITF funding sought.
- Be able to demonstrate an ability to fund at least 75% of the cost of the eligible project, other than from Queensland government funding sources - for instance by providing certified financial statements (including profit and loss statement and balance sheet) for the previous two financial years or otherwise demonstrating that that match funding is guaranteed.
- Where a special purpose vehicle is formed for the project, key participants in, and funders of, the SPV may be required to meet the above due diligence requirements.
- Have ownership, access to, or beneficial use of, any intellectual property that is the subject of, or is necessary to carry out the project.

Eligible Activities

Eligible projects must:
- Deliver the development or deployment of an innovative, unique or new platform technology product, process or service with the potential to achieve high growth and create jobs in Queensland.
- Be based around formalised partnerships with separate Queensland-based industries, SMEs and/or startups (for the purposes of this project, SMEs are classified as companies with less than 200 employees)
- Involve a minimum of three collaborators contributing funding and/or in-kind support:
a) Collaborating organisations cannot be related, such as part or subsidiaries.
b) Collaborators may include Queensland-based SMEs and/or startups, customers or end users, universities, research institutes and other organisations that can contribute to the demonstration and commercial development of platform technologies.
- Commit a 30% minimum portion of ITF Queensland Government and overall funding to be spent with Queensland SMEs and/or startups as part of the project (excludes funding spent on the lead applicant and partners e.g. salaries and on-costs etc).
- Have identified applications and growth paths for the platform technology, ideally across multiple sectors.
- Commence within 90 days after the Queensland government signs the application approval (Financial Incentive Agreement).
- Be completed within an agreed project timeframe up to a maximum of three years.
- Have a distinct set of activities, with aims and outcomes achievable and reportable within set timeframes.
- Undertake research and development, testing, demonstration trials or commercialisation of a platform technology or the convergence of platform technologies into new systems.
- Aim to deliver a transformative ‘step change’ that speeds the emergence of new products and/or services based on a platform technology, or the convergence of platform technologies, with global potential across one or more industry sectors.

Please refer to the Guidelines for the list of eligible/ineligible project costs.

Main Assessment Criteria

The main assessment criteria include:
- Impact
- Competitive advantage
- Collaboration
- Capability
- Technical merit

Please refer to the Guidelines for the complete list of the assessment criteria.

  • Start-up
     
  • Research & Development
  • Marketing
     
  • Export
     
  • Business Support
     
Documentation Uploaded
Recipients 2018-08-28 Download
Financial Incentive Agreement 2018-10-30 Download
Guidelines 2019-01-16 Download
Terms and Conditions 2019-01-16 Download
FAQs 2019-01-16 Download
EOI Application Handbook 2019-01-16 Download

Use these documents as a guide only - always get the latest direct from the Administrator

Add to
Add
Category
Business
Dates
Status Open
Start By Date 14 Jun 2019
Closing Date 28 Jun 2019
Closing Information
This program is open on an ongoing basis until 28 June 2019.

Value
Funding Type Investment
Min.Funding $250,000
Max.Funding $5M
Co-contribution Yes
Competitive Yes
Eligible Activities
Activities
Training / Employment
Manufacturing
Innovation and R&D
Who Can Apply?
Location
Queensland
Industries
Tourism
Mining
Healthcare, Medical, Biotechnology and Nanotechnology
Education
Defence
Agriculture
Aeronautics
Difficulty Rating
Administrator
Tier State
Department
Department of Science, Information Technology and Innovation
Contacts
Program Administrator
Department of Science, Information Technology and Innovation
Telephone
137468
Email
IndustryTech@ditid.qld.gov.au
General WebsiteVisit
Program Website Visit