Industry R&D Infrastructure Fund

Industry R&D Infrastructure Fund

We are excited to introduce you to a groundbreaking opportunity that can revolutionize your business’s research and development capabilities. The Industry R&D Infrastructure Fund, a visionary $15 million initiative by the Victorian Government, is set to empower businesses like yours to drive innovation, enhance R&D infrastructure, and foster long-term growth in Victoria’s key industry sectors.

By investing in cutting-edge research and development infrastructure, you can position your business at the forefront of Victoria’s R&D landscape.

HOW MUCH FUNDING IS AVAILABLE

The Fund offers grants ranging from $250,000 to $2 million, available to eligible businesses on a cash co-contribution basis ($1 for every $1 granted).

With a minimum eligible project expenditure of $500,000, you can receive up to 50% coverage of eligible project expenses.

NOTE: Funding will not be provided for retrospective activities

The Industry R&D Infrastructure Fund is designed to complement the Australian Government’s R&D Tax Incentive program by directly supporting business investment in R&D infrastructure and/or technology. Note that approval for funding is independent of and does not guarantee entitlement to the tax offset under the R&DTI..

WHO IS IT FOR & WHO BENEFITS

• businesses that have identified key R&D equipment/infrastructure that will support their R&D activities and anchor their operation in Victoria
• businesses that provide R&D services.
• have an operating presence in Victoria
• employ at least 20 full-time equivalent (FTE) staff or have an annual turnover greater than $1.5 million.

The potential benefits that this funding can bring are extensive and diverse., benefiting both your business and the industry as a whole. By strategically leveraging this opportunity, you can amplify Victoria’s R&D activity, driving progress in the following priority sectors:

1. New Energy Technologies: Embrace the future of energy with advancements in wind, hydrogen, solar, and battery technologies.
2. Health Technologies: Innovate in the fields of medtech, biotech, pharmaceuticals, and consumer healthcare to improve lives and reshape the industry.
3. Food Manufacturing and Agriculture: Enhance food manufacturing processes and transform the agricultural sector with groundbreaking advancements.
4. Defence, Aerospace, and Space: Pioneer technological breakthroughs in defence, aerospace, and space exploration to bolster Victoria’s presence on a global scale.
5. Digital and Advanced Technologies: Unlock the potential of advanced materials, robotics, AI (Artificial Intelligence), 3D-printing, and quantum technologies, propelling Victoria into the digital age.

While the above industries are the main focus, the Fund is also open to projects aligned with other sectors, encouraging innovation and progress across various fields.

• Genomics analysis for advancements in agriculture and human health.
• The fabrication, testing, and advanced engineering of novel materials and devices.
• Imaging technologies for analyzing materials and molecular structures.
• Optical and radio-telescopes for breakthroughs in astronomy.
• Specialist machinery design, construction, or modification.
• Building or modifying manufacturing facilities, such as clean rooms for medical device production.
• Environmentally friendly process innovations, reducing waste and promoting sustainability.
• Upgrading existing R&D equipment or establishing new suites of equipment, catering to the priority sectors’ needs.
• Underpinning capabilities, such as data collection and analysis.

HOW IT COULD HELP

1. Directly supports industry investment in new or enhanced R&D infrastructure, leading to increased R&D activity.
2. Facilitates high-quality collaborations between industry, universities, and research providers, fostering valuable research partnerships.
3. Generates broader benefits for manufacturing, supply chains, and workforce upskilling, specifically targeting priority industry sectors.

WHAT IS R&D INFRASTRUCTURE

R&D infrastructure refers to a diverse range of sophisticated equipment and services that drive cutting-edge research and innovation across disciplines. This can encompass:

• Genomics analysis for advancements in agriculture and human health.
• The fabrication, testing, and advanced engineering of novel materials and devices.
• Imaging technologies for analyzing materials and molecular structures.
• Optical and radio-telescopes for breakthroughs in astronomy.
• Specialist machinery design, construction, or modification.
• Building or modifying manufacturing facilities, such as clean rooms for medical device production.
• Environmentally friendly process innovations, reducing waste and promoting sustainability.
• Upgrading existing R&D equipment or establishing new suites of equipment, catering to the priority sectors’ needs.
• Underpinning capabilities, such as data collection and analysis.

R&D infrastructure can be operated by a single applicant for internal use or as collaborative, cross-disciplinary facilities that serve multiple organizations and foster innovation networks.

ELIGIBLE PROJECT EXPENDITURE INCLUDES:

1. capital expenditure (e.g., testing or specialised machinery, equipment and technology)
2. capital expenditure incurred to construct a building or part of a building
3. building costs associated with an extension alteration or improvement to a building
4. training of staff specific to the installation or operation of the new R&D infrastructure
5. labour and contractor expenses related to installation and commissioning of equipment or facilities
6. Accreditation expenses associated with equipment and/or facilities being assessed and granted industry-relevant standards (e.g. ISO standards)

HOW TO APPLY

Don’t miss this chance to transform your business’s R&D capabilities and contribute to Victoria’s flourishing innovation ecosystem. Seize the opportunity to secure funding for your ambitious projects, driving both short-term growth and long-term success.

To explore the possibilities and learn more about the application process, give us a call

Read the FAQ’s here

Unlock the power of innovation and shape the future of Victoria’s key industries with the Industry R&D Infrastructure Fund.

Working with Ryan

Ryan has a track record of delivering over $2 billion in tax incentives and grants to clients in the past 30 years. With expertise in software, manufacturing, agribusiness, fintech, health science, cleantech/renewables and FMCG/Food, our business service managers are well equipped to step you through the process.

Services
Ryan can assist with services such as:

• Scope your potential to claim various grant programs
• Assist with the preparation and lodgement of grant applications
• Review or provide a health check on your internally prepared grant applications
• Establish record-keeping practices as required under various grant programs
• Keeping industry informed on all new Government policy and grant initiatives

Don’t hesitate to give us a call or schedule a free assessment.