CBR Innovation Development Fund
Applications for the 2016/17 round of the CBR Innovation Development Fund – Competitive Grants are now closed. A summary of all successful projects is available at the CBR Innovation Development Fund – Competitive Grants 2016/17 Projects section below.
The CBR Innovation Development Fund was announced as part of Confident & Business Ready: Building on Our Strengths, the ACT Government’s new business development strategy released in May 2015. The Fund is a key program response to the strategy’s major policy pillar of accelerating innovation to create wealth and jobs in Canberra.
The Fund has two components with one that provides base funding for major commitments such as the CBR Innovation Network and the Innovation Connect Program while the other component is provided as competitive grants.
CBR Innovation Development Fund – Competitive Grants
The CBR Innovation Development Fund – Competitive Grants are aimed at supporting a range of initiatives that develop the capability and investment in the ACT’s innovation ecosystem as well as enhancing collaboration and broadening access to services and resources in the ecosystem. A list of the projects that were funded in 2015/16 is available below.
Note that only projects that will deliver benefits primarily to the ACT ecosystem as a whole, rather than the individual applicants, will be considered. The competitive grants are not intended to fund ‘business as usual’ or assist businesses to commercialise new products or services. The priority for this fund is projects that deliver new resources, services or new technology/ equipment to cover identified gaps within the innovation ecosystem.
Total funding available
The fund has an allocation of up to $1.45 million for competitive grants in 2016/17. The ACT Government reserves the right to allocate all or a portion of this amount to projects in this round.
How will the Competitive Grants work?
At least one funding round will be held for the CBR Innovation Development Fund – Competitive Grants in 2016/17. A subsequent round may be held later in the financial year, if the funding is not fully allocated in the first round. Implementation of the successful projects is expected to be completed by 30 June 2017.
There is no minimum/maximum amount of funding that can be sought but proponents will need to demonstrate that their proposal will make a significant contribution to the ACT’s innovation ecosystem. Successful projects will be prioritised accordingly to ensure that funding is allocated to the projects that derive maximum benefit to the ACT. As there is likely to be strong competition for funds across multiple projects, applicants should also consider what project milestones might be achieved with a smaller allocation than that requested.
An information session for the 2016/17 CBR Innovation Development Fund – Competitive Grants funding round will be held on 9 March 2016 and all the prospective applicants are strongly encouraged to attend this event.
Applications for the 2016/17 funding round will open on 7 March 2016. Within five working days of the close of applications a high level summary of every application and the amount sought from the fund will be provided on the ACT Government’s business website.
Applicants are encouraged to review all the submitted project summaries on this website and identify opportunities for collaboration with other project proponents where there are synergies and or where such collaboration between the applicant parties could maximise the benefits to the innovation community. The ACT Government also reserves the right to initiate discussions between applicant parties where it deems their collaboration would result in greater benefits to the innovation community. Applicants that wish to proceed on this collaboration path will advise the ACT Government accordingly and will be given a second chance to re-submit their application, reflecting any collaboration they subsequently plan to undertake.
The ACT Government will contact all the project applicants to discuss and confirm the suitability of their projects for the CBR Innovation Development Fund – Competitive Grants funding. For the shortlisted projects, the assessment process will include a presentation before the Assessment Panel on a date to be advised.
As well as describing the specific project and its direct benefits, applicants will need to show how their proposal fosters an integrated innovation ecosystem that supports the various stages of entrepreneurship and innovation and builds capacity and capability in the knowledge economy. More specifically, applications will be assessed against the following key criteria:
- How well does the proposal meet the intent of the competitive grants in facilitating collaboration and/ or broadening access to resources for innovators and entrepreneurs?
- What are the potential economic benefits to the ACT and, in particular, the innovation ecosystem?
- Have the possible risks to the delivery of the proposal been identified and how will they be managed?
- What are the financial and other commitments provided by the applicant and the collaborating partner/s?
The criteria do not necessarily carry equal weight through the assessment process.
Key Dates will be provided when a new round is open.
How to Apply
Applications for the Fund are submitted using a web-based form on SmartyGrants. Further information about how to apply will be provided when a new round is open.
For further information, please contact Glen Hassett at email@example.com or on 6205 5346, Brent Chick at firstname.lastname@example.org or on 6207 7215, or Chimwemwe Mpaso at email@example.com or on 6207 5843
CBR Innovation Development Fund – Competitive Grants 2016/17 Projects
- CBR Innovation Development Fund – Competitive Grants 2016/17 Projects Awarded Funding PDF, 175.17 KB
- CBR Innovation Development Fund – Competitive Grants 2016/17 Projects Awarded Funding DOCX, 123.79 KB
The list of the 2015/16 CBR Innovation Development Fund – Competitive Grants recipients is available below.