Incentives & Grants
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Invest Victoria can work with you to help your company tap into a range of government incentives and grants on a project-by-project basis.
Invest Victoria can advise and guide you through the array of programs available to help your business become established and thrive in Victoria.
Speak to Invest Victoria about programs in specific sectors, such as:
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- Automotive
- Food and Beverage
- Information and Communications Technologies
- Manufacturing/Import Concessions
- Energy and Climate Change
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Incentive programs applicable to all industry sectors are available at all levels of government:
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Partnership Development
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Partnerships Victoria
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Partnerships Victoria oversees Victoria’s public-private partnerships (PPPs) for the provision of pubic infrastructure and related services. There are 20 Partnerships Victoria projects worth around $10.25 billion in capital investment currently underway.
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Federal Government – AusIndustry
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Early Stage Venture Capital Limited partnerships (ESVCLP) For fund managers seeking to raise a new venture capital fund of between $10 million and $100 million for investing in Australian businesses.
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Venture Capital Limited Partnerships (VCLP) For fund managers seeking to raise a new venture capital fund of at least $10 million for investing in Australian businesses with assets of up to $250 million. Eligible foreign limited partners receive a capital gains tax exemption for gains made on eligible investments.
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Skills & Training – Victorian Government
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Community Regional Industry Skills Program (CRISP) facilitates industry development, job creation, skills uptake and improved services for rural and regional communities. It can assist in attracting new investment to a region, building firms’ business skills, and support for communities to fill skills gaps.
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Regional Programs and Incentives
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Regional Infrastructure and Development Fund (RIDF) supports infrastructure projects that improve the competitive capacity of regional Victoria and enhance economic development through investment, job creation and the promotion of export opportunities.
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CRISP - See Skills & Training section above.
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Small to Medium Size Enterprises (SMES)
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Victorian Government
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Grow Your Business – Eligible businesses can apply for a grant to engage the services of an independent specialist to undertake
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1) A Business Strategic Review analysing where the company has come from, and/or
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2) A Business Development Plan, which assists organisations to identify where they want to go and how to get there.
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Other services facilitated through the Grow Your Business program include group programs, a networks program and supply chain management.
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City of Melbourne - Small Business Grants
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Financial assistance to firms currently located or intending to locate to intending to locate in the City of Melbourne. These grants are targeted towards new and creative small businesses; innovative businesses wishing to expand; and businesses wishing to export.
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Federal Small Business Support - AusIndustry
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Commercialisation Australia (AusIndustry)
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- makes government subsidised training places (at TAFE colleges) available to all eligible Victorians at all levels of skills development. www.commercialisationaustralia.gov.au
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Small Business Advisory Services (SBAS)
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works with small and medium-sized businesses to explore training and education opportunities that will benefit the business and develop the skills of staff.
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Small Business Online (SBSL) – phone 1800 77 7275
An initial single point of contact to access information and referral services that assist small businesses including:
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- Finance and cash flow management (including loan and banking products)
- Business planning and diagnostic services
- Legal, accounting and taxation services
- Personal stress and hardship counselling
- Registration and licences
- E-Business and online assistance
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Victorian Government Export Assistance - www.export.vic.gov.au
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First Step Exporter offers financial assistance to Victorian companies seeking to research and explore opportunities in their first export markets.
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Export Networks bring companies together to exchange practical knowledge, experience and ideas.
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Trade Fairs and Missions – This program provides companies with export opportunities and market intelligence by enabling them to access strategic overseas markets and to showcase their capabilities internationally. The program also includes Industry Capability Missions, which are usually accompanied by the relevant Victorian Government Minister, or a senior industry or Government representative.
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ICT Trade Events and Export Assistance - This Multimedia Victoria program provides grant assistance for export-ready Victorian information and communications technology companies to attend recognised overseas trade fairs and missions.
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- www.austrade.gov.au
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Export Market Development Grants Scheme (EMDG)
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R & D & Innovation
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Federal - R & D Tax Incentive The R&D tax credit is a national tax incentive designed to encourage businesses to invest in research and innovation, aiming to provide more predictable, less complex support to business.
The new system, which came into effect on 1 July 2011, applies to all companies that carry out R&D activities through a permanent establishment in Australia.
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Read more about the R&D tax incentive.
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Federal Government – AusIndustry
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Biotechnology International Partnering Program (BIPP) provides grant assistance for eligible biotechnology companies to attend international biotechnology conferences and trade events overseas.
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Victoria’s Science Agenda (VSA) Strategic Projects Fund sustains investment in facilities and human capital through collaborative projects between research and external partner organisations in priority areas.
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Boosting Highly Innovative SMEs – Market Validation Program Uses Victorian Government technology demand as a driver for technology SME development and commercialisation. The program boosts the ability of technology SMEs to interact with customers in a commercial setting, develop and prove their products and/or services and provide a real-life commercial base from which to secure expansion capital and future customers.
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