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The turn of the new financial year did not only launch a new raft of tax measures, but a smattering of small business grants designed to empower the nation’s entrepreneurs.
While the grants on offer are perhaps fewer in number and more specific than those handed out through the turmoil of COVID-19 lockdowns, they still represent a chance for small businesses and startups to turbocharge their efforts through government support.
Victoria: Made in Victoria – Industry R&D Infrastructure Fund
This $15 million fund will provide matched funding of between $250,000 and $2 million to eligible Victorian businesses hoping to invest in new research and development infrastructure.
Program details show the fund is targeting:
- new energy technologies, including wind, hydrogen, solar and batteries
- health technologies, including medtech, biotech, pharma and consumer healthcare
- food manufacturing and agriculture
- defence, aerospace and space
- digital and advanced technologies, including advanced materials, robotics, AI (Artificial Intelligence), 3D-printing, and quantum technologies.
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Seven Canberra businesses awarded the Innovation Connect Program grant worth $238,0000
The ACT Government’s 2023-24 budget has also committed funding continuation for the Innovation Connect program for the next two years.
Xero Beautiful Business Fund to provide up to $690,000 in grants to small businesses
The Xero Beautiful Business Fund will be open to Xero small business customers in Australia, New Zealand, Singapore, South Africa, the United States, Canada and the UK.
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