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Business grants for research and innovation projects

19 March 2024

innovation

The Business Research and Innovation Initiative (BRII) has opened a new $7.5 million round for innovative proposals that address key challenges.

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The BRII provides startups and small to medium enterprises (SMEs) with grant funding to develop innovative solutions for government challenges, with this year’s focus on renewables and low emission practices.

Successful applicants will receive grants of up to $100,000 to develop and test their ideas over three months.

The most successful of these ideas may be eligible for a grant of up to $1 million to develop a prototype or proof of concept.

The three key challenge areas are:

  • Increasing energy efficiency of commercial fishing operations
  • Powering safe drinking water for Australian First Nations remote communities
  • Alternative packaging for premium Australian Wine

These challenges support the Government’s Net Zero commitment and the National Reconstruction Fund priority area of renewables and low emissions technologies.

Minister for Industry and Science Ed Husic said: “We want to challenge small and medium businesses to make a strong contribution to Australia’s circular economy.

“These grants are an opportunity to bring Australian know-how to solve some of our most pressing economic and social issues, including renewables and low emission practices.

“I look forward to seeing our small business community rise to the challenge and offer up practical solutions help us reach Net Zero.”

Applications close on Wednesday 3 April 2024.

For more information on the program, including criteria and applications, visit www.business.gov.au/BRII.

Grant Finder

Although an essential enabler to support business growth, finding grants can be complex and time consuming. The Victorian Chamber Grant Finder helps members identify which local, state or federal government grants best suit your business needs.

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