$30m NSW fund opens to boost innovative businesses

A new State Government fund has been established to help high-growth, innovative businesses in priority industries boost productivity and grow. With $30m of funding available, applications are open now! 

The NSW Future Industries Investment Program is aimed at increasing productivity in emerging high-value technologies, such as digital tech, medical tech, defence and aerospace plus the clean economy.

Launching the new fund, Minister for Enterprise, Investment and Trade the Hon. Alister Henskens SC MP said:

“We know that higher productivity improves our standard of living, drives wages
growth, and delivers more innovative goods and services to better meet our needs at a more affordable price.

I encourage business owners looking to build, grow or relocate to NSW to consider how the NSW Future Industries Investment Program can help your business expand and strengthen the economy of NSW”

Up to $30m in competitive grant funding will be available under the program, with no cap on maximum funding available.

The fund will provide rebates for eligible expenses for businesses investing in the NSW economy, including capital works, machinery and equipment, staff training, IT and data, site rent and set up costs.

Applying companies must be incorporated in Australia, have been operating for at least three years and must employ at least 20 FTE employees. Consideration will be given to joint ventures.

Applications are open now until 5pm on Friday 13 January 2023, with funding agreements signed in June next year.