National’s Senator for Victoria, Bridget McKenzie today urged businesses in Regional
Victoria to apply for new federal government grants for Incubator Support to
improve their prospects of commercial success on international markets.
The Incubator Support initiative includes $23 million to assist with the creation
of new business incubators which will help start-up companies access advice,
capital and valuable connections.
Senator McKenzie said business incubators will increase innovation capacity in regional
and rural Australia and in university precincts by bringing communities of
entrepreneurs together to increase the flow of local knowledge and foster
“Innovation and great ideas don’t just happen in capital cities, the government is backing
our entrepreneur’s spirit and their participation in a 21st century
economy,” Senator McKenzie said.
Applications are now open for matching grants between $10,000 and $500,000 for the creation of new incubators in regions or business sectors with strong links to
international trade, and for existing, high-performing incubators to expand
Incubators can also access matching grants of up to $25,000 to engage experts-in-residence
from Australia and overseas. This ensures start-ups have access to the
top-quality research, managerial and technical talent they need to develop
their capabilities and commercialise their ideas.
Senator McKenzie said the Incubator Support initiative is a new element of the
Entrepreneurs’ Programme and is one of the measures under the Turnbull
Government’s National Innovation and Science Agenda.
Originally announced as an $8 million initiative, the Turnbull Government has committed a
further $15 million over 4 years to ensure more innovative businesses,
especially those in regional and rural areas, can access the resources and networks
needed to grow.
Australia’s network of incubators and accelerators have helped hundreds of innovative
businesses accelerate and scale-up their operations for launch into global
markets and helped lift the innovation capacities of regional innovation
Guidelines are available and applications are now open. For more information visit: www.business.gov.au/incubator-support