The Canberra Innovation Network in partnership with the ACT Government will deliver the Innovation Connect (ICON) Grant program and provide matched funding between $10,000 and $30,000. The new look program builds on the successes already seen and continue to support the thriving startup culture in Canberra and empower entrepreneurs to develop and grow their innovative ideas.
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The Innovation Connect (ICON) program:
- supports innovative, entrepreneurial ideas to a market ready position including market testing;
- supports projects that prove the technical or commercial feasibility of a concept;
- supports the development of product prototype or functional software;
- assists with the development and testing of effective marketing approaches; and
- assists with legal, IP and patenting advice.
Applicants should familiarise themselves with the relevant Funding Rules and Grant Agreements.
Grants can only be made to applicants who have a current ABN and are Canberra based.
Can I apply?
In order to be eligible to apply for funding you must:
- Have an annual turnover of less than $2 million;
- Be Canberra based;
- Have an ABN (you will need this to enter a funding agreement); and
- Agree to enter into a Deed of Grant with the Canberra Innovation Network
See Past Innovation Connect Grant Recipients
What is the application process?
- Book an Intro Meeting with a Business Growth Advisor from the Canberra Innovation Network.
- After your Intro Meeting if you are eligible you will be invited to submit an Expression of Interest (EOI) including a 60 second video pitch.
- An independent panel will review your submitted EOI and if shortlisted, you will be invited to submit a full application and prepare a 3-minute face to face pitch.
- Submitted full applications and 3-minute pitch will be assessed and grant recipients will be advised.
- If successful you will be asked to enter into a Deed of Grant with the Canberra Innovation Network.
- Congratulations; you’re ready to make an impact! The Canberra Innovation Network will work with you to determine achievable milestones.
What happens if I get funding?
- Up to 50% of approved funding may be paid on signing of the Funding Agreement. This will be determined on a case by case basis.
- Future grant payments are made on a reimbursement basis after meeting milestones. We will work with you to ensure reporting requirements are met.
- You will need to provide evidence of all paid expenditure (Innovation Connect and matching-contribution) eg. receipts, paid tax invoices and bank statements. In-kind time and commitment to the project should be recorded through timesheets.
- Milestone claims require an online written report of activities undertaken and outcomes achieved. You should also provide relevant evidence to demonstrate the completion of the milestone.