The Government’s Small Business Enterprise program has been established to encourage small businesses to develop technologies to aid important industries within New South Wales.

The program provides grants of up to $100,000.00 to small enterprises developing new technologies, or developing new uses for old technologies.

The grant may apply to new technologies in the following industries: e-health; advanced manufacturing; energy technologies and services; online & interactive education; and transport, logistics & infrastructure.

To be eligible for the grant you must be: an incorporated company in NSW; the owner of the technology; and looking to make the technology available to the general public.

The three types of grants being offered are:

  1. $15,000.00 to develop a prototype;
  2. $15,000.00 for further research; and
  3. $100,000.00 for the development and testing of the new technology.

Developers of new technologies are invited to apply for an assessment of eligibility. They will then have the opportunity to discuss their development with a Government appointed advisor who may suggest a change in the type of grant.

The applications are based on the:

  • purpose and use of the technology;
  • business model strength;
  • potential benefits to industry; and
  • potential benefits to the State of NSW.

The prototype and research grants are assessed in house by Government appointed assessors based on the merits of the application, however, the grant for development of new technology requires an oral presentation.

TIPS

  • If you are developing technology, consider if this grant applies to you.
  • If you need assistance in developing the prototype, we can refer you to government recognised technology providers.
  • If you need assistance with your application, feel free to discuss it with our office.

If you have any questions in relation to this article, please contact Damin Murdock at Leo Lawyers on (02) 8201 0051 or at office@leolawyers.com.au.

DISCLAIMER: This article is not to be taken as legal advice and is general in nature. If you require specific advice, please contact us.