The Canberra Innovation Network in partnership with the ACT Government deliver the Innovation Connect (ICON) Grant program and provide matched funding between $10,000 and $30,000. The program supports the thriving startup culture in Canberra and empowers entrepreneurs to develop and grow their innovative ideas.
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.
Timeline
- Funding round currently open
- 06 April 2020 – Funding Round Closes
- 01 May 2020 – Shortlist Notified
- 13 May 2020 – Shortlist Pitch Day
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 Funding Agreement 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 Funding Agreement 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.
See the Terms and Conditions of this grant.
Latest Innovation Connect news
-
Thinking of applying for an Innovation Connect Grant?
The grant will fund innovative ideas, products, and services, primarily to develop a prototype or prove their technical or commercial viability.
March 16, 2020 -
Get Funding to Launch Your Innovative Ideas
We spoke to three Canberra companies that were successful in the Innovation Connect Grant application process last year to hear about their experience and motivations.
February 14, 2020 -
Wildlife Drones Tracks Critically Endangered Pangolins in Vietnam
In a world first, Canberra technology start-up, Wildlife Drones has successfully radio-tracked critically endangered Sunda Pangolins in Vietnam.
January 29, 2020