2026 Innovation Connect (ICON) Grant – Round 2
If you’re an ACT based startup working on proving your concept, validating your market, or building a prototype, the Innovation Connect (ICON) Grant through the Canberra Innovation Network may be worth serious consideration.
This program is designed specifically for early-stage businesses moving from idea to commercial validation.
What funding is available?
The ICON program provides dollar-for-dollar matched funding between $10,000 and $30,000.
With 50% of the grant funding is paid upfront. The matched can include project expenditure and/or in-kind founder time.
Eligibility
To be eligible you must:
- Have an ABN
- Be registered and primarily operating in the ACT or surrounding
- Have annual turnover under $2 million
What can the grant funding be used for?
The objectives of the program are to:
- Support innovative, entrepreneurial ideas to a market ready position, including market testing.
- Prove technical or commercial feasibility
- Develop prototypes or functional software
- Support early marketing validation
- Obtain legal, IP or patent advice
You can use the grant funding for the following activities:
- Product development
- Resources and consumables specific to the project activities
- Development of marketing plans and strategies (excluding advertising costs and content)
- Website development or upgrades
- Staff wages and salaries specific to the project activities
- Technical feasibility testing
- Market testing and customer validation exercises
But does not include, general admin costs, major capital expenditure or costs already incurred.
The Application Process
This is not a simple online form submission. It’s a staged process:
Step 1 – Attend a mandatory ICON Introduction Meeting with CBRIN
Step 2 – Submit an Expression of Interest (EOI)
Step 3 – If shortlisted, deliver a 3-minute face to face pitch and Q&A
Want to learn more about the 2026 ACT Innovation Connect (ICON) Grant – Round 2?
Click here to learn more about the ACT Innovation Connect Grant and to book your intro meeting
Applications close 8 October 2026.
📌 Frequently Asked Questions:
Q: What is the Innovation Connect (ICON) Grant, and how much funding is available?
The Innovation Connect (ICON) Grant is a competitive proof-of-concept grant program funded by the ACT Government and delivered by the Canberra Innovation Network.
- Grant Amount: Grants range between $10,000 and $30,000 (GST exclusive).
- Matched Funding Requirement: Recipients must provide a matched contribution equal to the grant amount. This can be in the form of project expenditure, an in-kind contribution of the founding team’s time, or a combination of both.
Q: Who is eligible to apply??
To be eligible for the grant, your business must meet the following criteria:
- Hold an ABN at the time of signing the Funding Agreement (and be GST registered, if applicable).
- Be pre-revenue or turning over less than $2 million in annual revenue.
- Have your registered office and principal place of business in the ACT or surrounding region (or be a business primarily focused in the ACT).
Note: You are ineligible if you are a government agency, a member of the current selection panel, or a past ICON grant recipient (including founders/directors of businesses that previously received an ICON grant).
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Q: What can—and cannot—the grant funds be used for?
Grant funds must be spent on approved project activities during the agreed Grant Period.
- Eligible Expenditure: Product development, staff wages/salaries specific to project activities, website upgrades, technical feasibility testing, market testing/customer validation, and developing marketing strategies.
- Ineligible Expenditure: Advertising costs (collateral/content), purchase of land/property, major construction/capital expenditure, general “business as usual” overheads (rent, electricity, phone), executive staff remuneration, retrospective costs, or activities related to gambling, tobacco, or fossil fuel extraction.
Q: How does the application and selection process work?
The application process involves four main steps:
- Intro Meeting: Book and attend an introductory meeting with the Canberra Innovation Network team.
- Submit EOI: Submit an Expression of Interest (EOI) online, which includes a text webform and a 60-second video pitch.
- Pitch Day: If shortlisted by the independent panel, you will present a 3-minute face-to-face pitch followed by a Q&A session with the panel.
- Funding Agreement: Successful applicants enter into a formal agreement to receive funds.
Q: How and when are grant funds paid?
Funds are disbursed in two instalments:
- First 50%: Paid upfront upon execution of the Funding Agreement and receipt of your invoice.
- Remaining 50%: Paid as a reimbursement upon completion of the project, after you submit (and the panel accepts) an Acquittal Report proving that all milestones were met and matched funds were expended.
Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably.
Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.
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Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052
