Innovative SMEs and startups play a crucial role in the economy but many have difficulty bringing their ideas to market. The Industry Growth Program supports early-stage businesses in their most challenging development phase.
About the program
The program supports innovative SMEs undertaking commercialisation or growth projects that will build Australian capabilities in priority areas for the National Reconstruction Fund (NRF):
- renewables and low emissions technologies
- medical science
- value-add in the agriculture, forestry and fisheries sectors
- value-add in resources
- defence capability
- enabling capabilities.
It aims to help businesses:
- commercialise their ideas into new products, processes and services, and grow their operations
- improve their ability to engage in national and international markets
- better position themselves to seek future investment and scaling opportunities, including through the NRF.
It complements the NRF’s mission to drive investment in projects that develop Australia’s industry and manufacturing capability. This will help to transform Australia’s economy.