Government Grants

Innovation Grant

What are Innovation Grants?

Innovation Granst are funding offered by the Australian governement to SMEs to encourange product innovation. Most of these grants are funded by the Federal Government, some are funded by state governments.

Federal Innovation Grants

The more common innovation grants funded by the Federal government include:

  1. funding match up to $50,000 to hire research experts to assist businesses with turnover under $1.5 million in the year of application as well as two years before that.
  2. up to $1 million in matching funds to cover commercialisation costs and costs involved in bringing an innovative product or process to the market.
  3. matching fund of up to $50,000 along with the services of a dedicated skilled facilitator to help the company assess its research needs and if required, connect it to the business experts. This grant is designed to support businesses with turnover between 1.5M and 100M.

NSW Innovation Grants

Innovation funding provided by the NSW Government includes:

  • Minimum Viable Product Grants
  • Building Partnerships Grants
  • Regional Startups
  • Western Sydney Investment Attraction Fund

Minimum Viable Product Grants

An MVP grant is a matched funding grant up to 50% of approved project costs, to a maximum of $25,000.
Successful grant applicants will receive 35% of the funding up-front and 65% after completion and validation of the MVP.

Building Partnerships grants

Building Partnership grants require startups or SMEs to have an innovative solution that addresses a market gap or opportunity and the collaboration of a consortium of partners.

Eligible businesses can receive up to 35% of the approved project costs up to a maximum grant of $100,000. The approved project costs may include:

  • further developing a product and/or solution
  • progressing early stage commercialisation i.e. product training or product testing
  • acquiring and retaining talent.

 

What are the three grants available?

  • Researcher placement provides a maximum of $50,000
    • Requirement: a PFRO researcher must work in your business research project.
  • Business researcher placement provides a maximum of $50,000
    • Requirement: a researcher from your business must work in PFRO for a research project.
  • Graduate placement provides a maximum of $30,000
    • Requirement: to employ a graduate/post-graduate with a relevant degree to work in your business research project.

Success stories

ethos-logo

How Wilson & Associates helps us with our profit turn-around and growth strategies – by Dr. Watson, CEO, Ethos Health,13/06/2018

A profit turn-around of almost 300%
20% savings on a tax assessment, coupled with 20% annual savings in tax compliance
A rigorous growth budget with full alignment of strategic objectives with executional strategies in terms of people and marketing.

Wilson & Assoc provides robust planning, rigorous performance management, commercial and strategic advice, and helps drive profit and accelerated growth.

Improve cash flow. Maintain high level of trust and confidence with suppliers, during short cash-tight periods.
First year of engagement (F17) – reduce operating loss by 2/3
Second year (F18) turn-around to profit
Wilson & Assoc Chartered Accountants

What we are about

We are passionate about bringing big company financial capabilities to startups and small businesses without the big costs.

Our mission is to help you create the financial future you want for your business, yourself and your family.

Our business is to help you build wealth, increase cash and profits, and grow amazing business.

What our clients say

5.0
on
Wilson & Assoc Chartered Accountants has played a key role in our business turn-around, rapid growth and capital raise. They have provided financial structure and rigour to optimise decisions and outcomes of strategy implementation and performance enhancement. They have brought a new level of financial clarity and confidence to our decisions and choices, both strategic and operational.
Dr Trent Watson a
CEO, Ethos Health
Very Happy To have Wilson & Assoc as my Accountant for business and personal maters. Very professional, friendly and most of all he works hard to make sure you get the best outcome with your tax return. as well as giving you the best advice to better your business. Always notifying me with every step when working on any procedures to do with my business. Doesn't matter if you are a big business or small you are treated with the same care and respect and given the same service. I highly recommend their services.
Ana Giusti
Restaurant Owner
Wilson & Assoc Chartered Accountants has been of the greatest help to us personally and as small business owners. Their personal service, ongoing support and advice help to simplify accounting and taxation matters from the day to day through to end of year. And it's all done without a fuss.
Andre Ogle
Printing Business Owner
The service is professional, efficient and reliable and we trust Wilson to get the job done right. But most importantly, it’s so nice to deal with someone that is genuine and cares about the things that are important to us. Thank you for looking after us Wilson.
Viv Chau
My tax return was done very fast and efficient with all the paperwork included, I would definetly reccomend them.
Michael Antonakis
Wilson is a great accountant and extremely helpful know exactly what to do with my finances gives me complete step by step instructions on what to do to get my tax affairs in order. 👍👍👍 highly recommend him
CLEAN N OUT
Very knowledgeable and professional service. Glad to have finally found a tax accountant that instills confidence.
Dominic See
Finally found an accountant that is courteous and knowledgeable but most importantly efficient with great pricing. He's always willing to look at different avenues to land on a positive outcome for us. We highly recommend his services.
Frank Ribosa
I have recommended my clients to Wilson & Associates and the feedback has been very positive. Specifically that Wilson was professional, courteous and clearly explained complex tax rules in an easy to understand way, without any jargon. If you're looking for a great a tax agent and accountant, definitely contact Wilson & Associates.
Jason He
Wilson is very professional and had helped me resolved my complex issue with the tax office. I highly recommend him.
Kevin Yeo

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