Building better incubators to support local start-ups

Existing and new business incubators across Bradfield can now apply for grants from the Turnbull Government to help local start-ups access advice, capital and gain valuable connections.

Federal Member for Bradfield, Paul Fletcher, said the $23 million Incubator Support initiative would provide matching grants of between $10,000 and $500,000 for the creation of new incubators in regions or business sectors with strong links to international trade, and for existing, high-performing incubators to expand their services.

“This initiative is focused on bringing local businesses together, through an incubator, to increase collaboration and local knowledge,” Mr Fletcher said.

“Ultimately it’s about providing the opportunity and tools for local businesses to be competitive and it puts them, and their ideas, in the driving seat for potential success.”

Incubators can also access matching grants of up to $25,000 to engage experts-in-residence from Australia and overseas.

“This will help start-ups to gain access to the top-quality research, managerial and technical talent they need to develop their capabilities and commercialise their ideas,” Mr Fletcher said.

“I want to see more Australian businesses achieve success on the world stage and I’m hopeful this initiative will help start-ups to quickly scale-up and launch into global markets.”

The Incubator Support initiative is a new element of the Entrepreneurs’ Programme and is one of the measures under the Turnbull Government’s National Innovation and Science Agenda.

Applications are now open. To view further information, guidelines and to apply visit: www.business.gov.au/incubator-support