Ignite Ideas Fund

Supports Queensland based start-ups and small to medium Queensland businesses to commercialise innovative products, processes and services to enable them to grow and compete in a global market and create new jobs.

What's important

  • Round 7 of the Advance Queensland Ignite Ideas Fund is now open.
  • There is a two stage application process.
  • The Expression of Interest stage is open to all eligible businesses.  Applications close at 10am, Thursday 16 July 2020. Any applications that have not been submitted by the closing time of 10am will not be accepted.
  • Applicants will be notified of the Expression of Interest outcome within approximately 8 weeks of the closing date.
  • Expression of Interest applications will be assessed with shortlisted applications then invited to submit a Full Application for consideration.

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.

Funding

Two tiers of funding are available:

Tier 1

Up to $100,000 (excluding GST) for projects of up to 12 months duration.

Tier 2

Greater than $100,000 and up to $200,000 (excluding GST) for projects of up to 24 months duration.

Eligibility

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. 

Financial incentive agreement (PDF)

Case studies

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