About the program
The Ignite Ideas Fund supports Queensland based small to medium businesses that have high-growth potential to undertake commercialisation projects that will:
- strengthen key industries in Queensland
- diversify the Queensland economy
- compete in domestic and global markets
- engage and/or benefit regional Queensland
- create new jobs, now and into the future.
Viability and scalability beyond completion of the project must be a key long term outcome.
Two tiers of funding are available:
Up to $100,000 (excluding GST) for projects of up to 12 months duration.
Greater than $100,000 and up to $200,000 (excluding GST) for projects of up to 24 months duration.
To be eligible for funding, applicant organisations must:
- be a business or start-up organisation headquartered in Queensland as at the application closing date
- be registered for GST as at the application closing date
- have no more than 50 full-time-equivalent employees
- not be a subsidiary of a group of companies that has more than 50 full-time-equivalent employees in total
- not have received funding for the proposed project activity from either the State, Federal or Local Government
If applying for Tier 1, the applicant organisation and/or related parties must:
- not have received an Ignite Ideas Fund grant previously
- make a cash contribution to the project that is at least equal to 20% of the value of funding sought.
If applying for Tier 2, the applicant organisation and/or related parties must:
- not have received an Ignite Ideas Fund Tier 2 grant previously
- have successfully completed any project funded under Tier 1 of the Ignite Ideas Fund (if relevant)
- make a cash contribution to the project that is at least equal to the amount of funding sought
- have been registered with the Australian Securities and Investments Commission (ASIC) prior to 1 July 2018
Organisations and their related parties are limited to one application per funding round.