Enabling Technologies under the National Reconstruction Fund (NRF).
I was interested to see in the latest Startup Muster 2024 Report that 37% of the startups stated that they were aligned with the “Enabling Capabilities” priority area of the National Reconstruction Fund (NRF).
This is nearly double the next priority area. And this scares me.
Why, because I believe the term “enabling technologies” has been misunderstood by many.
From what I can see, many simply focus on the words like artificial intelligence (AI) technologies; advanced information or communication technologies; quantum technologies; autonomous systems; robotics technologies etc.
They think that as they are building an AI solution for example, they therefore fall into the “enabling technologies” priority area of the NRF and its sister fund, the Industry Growth Program (IGF).
This was me for a while, till I dug deeper into the eligibility requirements and personally spoke to people in AusIndustry about “enabling technologies”.
What I clarified was that the NRF and IGF are both focused on “manufacturing technologies and products that support the advancement of Australia’s industrial capability”. In simple terms advanced manufacturing.
What that means for example, that if your AI solution is focused on a service industry rather than manufacturing, then it your AI solution probably does not meet the eligibility rules of the NRF or the IGF.
An example of this is the most recent investment by the NRF in Quantum Brilliance. This $13m investment was done under the “enabling capabilities” priority area. But the money will be used to help build a quantum diamond facility.
My Recommendation
My recommendation for all those startups that think they may be covered under the “Enabling Capabilities” priority area of the NRF (and IGF) is this. Why not right now apply under the IGF to get access to a free advisor. If your application gets accepted then there is a chance you will be eligible for funding under the IGF and NRF.
If it does not get accepted, in the absence of pivoting, you need to plan your way forward without any access to funds under the IGF or NRF as they now stand.
Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.
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