The Advance Queensland IndustryTech Fund (ITF)

Grant Organiser The Queensland Government
Grant Overview Provides financial incentives to larger scale co-funded projects that accelerate the development and deployment of significant and highly collaborative industry based platform technology projects.
Eligibility Criteria:

To be eligible for funding, the lead applicant funder must:

  • be a business (GST-registered, with an ABN)
  • have total cash contributions (from the applicant and partner organisations) that are at least 3 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, e.g. by providing certified financial statements (including profit and loss statement and balance sheet) for the previous 2 financial years or otherwise demonstrating that match funding is guaranteed
  • where a Special Purpose Vehicle (SPV) 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 your project.
    Merit Criteria

    Considering the intent of the program outlined in the introduction to these guidelines, applications will be assessed against the following equally weighted criteria at stage 2.

    To be considered, an activity should perform very strongly against most, if not all, of the following criteria:

    1. Impact: the extent to which the ITF project will achieve a step change to speed the adoption of identified platform technologies and enabled processes or services. Integrated use of technologies, scalability and transferability across sectors and clear pathways to achieve job creation, productivity gains, and increased capability are defining features.
    2. Competitive advantage: the extent to which the ITF project is of strategic importance, and enhances the competitive advantage of Queensland firms, industry or the state’s economy. This may include an area in which Queensland has an existing competitive edge, or the development of new competitive advantage in global value chains, ‘niche’ products, components and/or services. Projects may exploit opportunities to introduce new capabilities or diversity to the Queensland economy.
    3. Collaboration: applicants must demonstrate how they will grow networks, collaboration and shared benefits across Queensland including industries, SMEs, startups, technology developers, researchers or customers (end users).
    4. Capability: clear delivery capacity within the project partners and partner readiness to commit to the ITF project. A demonstrated track record combining the technical, development and commercial capabilities to deliver in the timeframes of the program and foster productive relationships.
    5. Technical merit: applications must demonstrate the project has scientific or technical merit, is well planned, technically feasible and achievable in the context of project deliverables and outcomes.
      Level of Funding:

      Queensland Government funding from a minimum of $250,000, to a maximum of $5 million will be available per project.

      Projects will be funded at a minimum 1:3 ratio of government-to-applicant funding.

      ITF projects will represent a minimum total investment of $1 million (i.e. a minimum $250,000 Queensland Government grant and a minimum $750,000 cash contribution from lead applicants and their partners, excluding GST).

      Application Criteria for Evaluation

      Application assessed against the eligibility criteria and then against the merit criteria. Only eligible applications will proceed to the merit assessment stage.

      The amount of detail and supporting evidence you provide in your application should be relative to the project size, complexity and grant amount requested. You should define, quantify and provide evidence to support your answers.

      The Program Delegate will make the final decision on which applicants receive grants.

      Funding Available for: SMEs to develop innovative solutions for government policy and service delivery challenges
      Important Dates: Proposals will be accepted at any time from the opening date.
      Contact Details:

      13 QGOV (13 74 68)

      advancequeensland@qld.gov.au 

      Further Information and Applications:
      Web: https://advance.qld.gov.au/entrepreneurs-and-startups-industry-universities-and-researchers/industrytech-fund