The government hopes business incubators will increase innovation capacity in Australia’s urban areas, as well as regional and rural Australia and in university precincts by bringing communities of entrepreneurs together to increase the flow of local knowledge and foster collaboration.
Incubators can also access matching grants of up to $25,000 to engage experts-in-residence from Australia and overseas. The aim is to enable start-ups to have access to the research, managerial and technical talent they need to develop their capabilities and commercialise their ideas.
The Incubator Support initiative is a new element of the Entrepreneurs’ Programme and is one of the measures under the Federal Government’s National Innovation and Science Agenda.
Guidelines are available and applications are now open.
For more information visit: www.business.gov.au/incubator-support