Are you looking for money to help develop or grow your new business idea? Top five funding sources for innovators:
- R&D Tax Incentive – you are eligible if your company is incorporated in Australia, has an ABN and you have conducted eligible R&D activities with notional deductions (R&D expenditure) of at least $20K.
- Entrepreneurs’ Programme
- Accelerating Commercialisation Grant – to $1 million for eligible projects.
- Business management – to $20K to implement business capability improvements.
- Innovation connections – to $50K for implementation of a business innovation project
- Crowd funding – various platforms to raise funds for product development etc. Pozible, Venturecrowd, etc.
- Angel investors – typically invest up to $500K in viable high growth businesses. Melbourne Angels, Australian Investment Network, etc.