Jobs for NSW Funding (Overview)Overview
This program aims to provide financial support to startups and emerging and fast-growth small to medium enterprises (SMEs) to build momentum and grow jobs. It seeks to foster and support the potential to grow and generate new jobs across the state and focus on building up industries and sectors with a competitive edge that can really generate sustainable employment into the future.
Funding is available under the following products:
1. Minimum Viable Product Grants
- Designed to support promising startups with the funds needed to progress from a proof of concept stage to a minimum viable product.
- Matched funding grants up to 50% of approved project costs, to a maximum of $25,000, are available.
2. Building Partnerships Grants
- Help revenue generating technology startups become the high-growth, job-creating businesses of tomorrow.
- Grants of up to 35% of approved project costs, up to a maximum of $100,000, are available.
3. Accelerating Growth Loans
- Provide direct loans for emerging fast-growth SMEs that are scaling quickly and creating jobs in NSW, but face barriers in accessing finance from traditional lenders.
- Loans ranging from $200,000 to $500,000 are available to eligible businesses at a fixed interest rate of 9.2% for the term of the loan.
4. Regional Growth Loans
- Provide direct, interest-free loans for emerging and fast-growth SMEs in regional NSW that are scaling quickly and creating jobs, but face barriers in accessing finance from traditional lenders.
- Loans ranging from $200,000 to $500,000 are available to businesses with no interest payable.
5. Strategic Growth Loans
- Provide flexible, direct loans for emerging and fast-growth SMEs that are scaling quickly and creating jobs, but face barriers in accessing finance from traditional lenders.
- Loans ranging from over $500,000 to $1.2 million are available to businesses with flexibility in payment terms including the flexibility of multiple advances.
6. Loan Guarantees
- Available to help fast-growth SMEs across NSW to obtain the loan approvals needed to expand.
- Loan guarantees are offered in partnership with an Australian authorised financial institution. Jobs for NSW will act as a guarantor for up to 50% of the loan (up to $5 million of the loan amount).
A total funding of $190 million is available over four years from 2015-16.
Applicants must speak to a financial advisor to assess the suitability of a loan/grants for their business.
Eligible applicants include businesses from the following priority sectors:
- Advanced manufacturing
- Creative industries
- Digital innovation
- Environmental technologies
- Financial and professional services
- Food and quality goods to Asia
- Infrastructure and smart cities
- International education
- Life sciences
- Regional HQs
Please refer to the individual funding products for the specific eligiblility requirements.
Please refer to each individual initiatives for the specific eligible activities.Main Assessment Criteria
Please refer to each individual initiatives for the specific assessment criteria.
- Research & Development
- Business Support