Advice and admin costs will swallow more than 25 per cent of the Industry Growth Program’s $392 million budget, leaving $105 million less in funding for early-stage commercialisation grants.
Unveiled in this year’s federal Budget, the program aims to bridge the ‘valley of death’ facing startups and small and medium-sized enterprises working on innovative projects that align with the $15 billion National Reconstruction Fund (NRF).
It will target the same priority areas as the NRF, such as value-add in agriculture, forestry and fisheries; value-add in resources; transport; medical science; renewables and low emissions technologies; defence capability; and enabling capabilities.
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