QLD Ignite Ideas Fund – Round 12

The QLD Ignite Ideas Fund supports Queensland-based small to medium businesses that have high-growth potential to undertake commercialisation projects.

There are 2 tiers of funding available

Tier 1 – Up to $100,000 (excluding GST) for projects of up to 12 months duration.

Tier 2 – Greater than $100,000 and up to $200,000 (excluding GST) for projects of up to 24 months duration.

Both tiers get access to the Ignite+ program. This provides support across sales and marketing, customer acquisition, competitor analysis, intellectual property (IP)/legal support, financial structure, connections to mentors and sponsors, and access and introductions to business and investment networks.

Eligibility

To be eligible for funding, applicant organisations must at the time of application:

• be a business headquartered in Queensland with an ABN and registered for GST
• have no more than 50 full-time-equivalent employees (or a subsidiary of a group of companies that has more than 50 full-time-equivalent employees)
• not have received funding for the proposed project activity from either the state, federal or local government

If applying for tier 1, the applicant organisation and/or related parties must:

• not have received an Ignite Ideas Fund grant previously
• make a cash contribution to the project that is at least equal to 20% of the value of funding sought.

If applying for tier 2, the applicant organisation and/or related parties must:

• not have received an Ignite Ideas Fund tier 2 grant previously
• not be applying for a product or service that has previously received Ignite Ideas funding
• have successfully completed any project funded under tier 1 of the Ignite Ideas Fund (if relevant)
• make a cash contribution to the project that is at least equal to the amount of funding sought

Eligible Expenditure

Ignite Ideas Fund expenditure must be related to project specific commercialisation activities and fall within the following eligible cost categories:

• salary expenditure (including salary-related on-costs) for new employees directly contributing to the delivery of the project
• salary expenditure (including salary-related on-costs) for founders and existing employees directly contributing to the delivery of the project (capped at 20% of the total grant)
• services provided by (unrelated) external parties
• equipment not exceeding $10,000 per item (capped at 10% of the total grant)
• consumables, economy travel, accommodation and subsistence costs.

It is expected that all Ignite Ideas funding will be expended in Queensland, unless it can be demonstrated that expenditure outside Queensland is essential to ensure successful delivery of the project.

Costs not eligible include:

• FDA/TGA or other regulatory approval costs
• capital works and/or physical infrastructure including any buildings, telecommunications and IT networks
• business as usual costs
• costs associated with the production of products for sale, employee allowances, bonuses and fringe benefits

Application Process

There is a 2 stage application process.  The first stage is lodging an expression of interest.  Selected stage Expression of Interest applicants will be asked to lodge a full application.

Note Organisations and their related parties are limited to one application per funding round.

Expression of Interest applications for Ignite Ideas Fund Round 12 close at 11am on 8 April 2024.

Learn More

To learn more and lodge your expression of Interest for the QLD Ignite Ideas Fund click here

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