An $8 million Ignite Ideas Fund super round has been launched.
You can secure funding for one of two distinct innovation pathways:
- to progress an existing functional prototype product or service towards the brink of market readiness
- to fast-track the commercialisation of a highly innovative new product or service that’s at the minimum viable product stage or beyond.
Successful applicants to Ignite Spark and Ignite Ideas Round 11 will also gain privileged access to the Ignite+ program. This program offers a wealth of professional expertise, invaluable business advice, and dedicated mentoring to propel your business forward.
Overview of funding available
Apply for grants of $50,000 to $75,000 (excluding GST) to advance the development of an innovative product or service closer to market. This program particularly aims to drive prototypes towards an advanced stage, thoroughly tested, endorsed by customers, and poised for commercialisation.
Submit your EOI by 11am on 31 October 2023.
Secure grants of up to $200,000 (excluding GST) if your business has a new product or service that is at the minimum viable product stage or beyond and ready for commercialisation. Submit your EOI by 11am on 29 September 2023.
The Ignite Ideas Fund supports Queensland based small to medium businesses that have high-growth potential to undertake commercialisation projects that will:
- strengthen key industries in Queensland
- diversify the Queensland economy
- compete in domestic and global markets
- engage and/or benefit regional Queensland
- create new jobs, now and into the future.
Funding is available to commercialise highly innovative and new products or services that are at minimum viable product stage or beyond. The essential core of your new project or service should already have been tested in action with potential customers a proof of concept, prototype and/or pilot.
Ignite Ideas funding will not support the development of a concept for a new business, the further development or improvement of an existing product or service, or to expand into new markets if the product or service is already in a market.
Some previous grant recipients have included funding for:
- Fashion visualisation technology
- Solar powered drones
- Online concrete ordering and scheduling app
- Injection technology for tree weed control
- Lock Jaw Ladder Grip
- Waste to Hydrogen
Please contact the team at MGI if you have any questions or require further information.