Up to $5 Million in Government Funding — Are You Eligible?
Australian businesses can access $50,000 to $5 million in government funding through the Industry Growth Program (IGP).
But here’s the reality:
👉 Most businesses get rejected — not because they’re ineligible, but because they apply incorrectly.
If you’re developing an innovative product or scaling a new technology, this guide will show you exactly:
- How the IGP works
- Whether your business qualifies
- How to maximise your chances of approval
What Is the Industry Growth Program? (Quick Answer)
The Industry Growth Program (IGP) is an Australian Government initiative that provides matched funding between $50,000 and $5 million to SMEs commercialising innovative products, services, or processes within priority sectors like clean energy, medical science, and advanced manufacturing.
How Much Funding Can You Get?
The IGP offers two funding streams depending on your stage of development:
1. Early-Stage Commercialisation Grant
- $50,000 – $250,000
- Supports feasibility studies, proof-of-concept, and early prototypes
- Suitable for TRL 3–6
2. Commercialisation and Growth Grant
- $100,000 – $5 million
- Supports scaling from prototype to market readiness
- Suitable for TRL 4–9
Important: Matched Funding Requirement
The IGP operates on a 50/50 co-investment model:
- Government funds 50%
- Your business must contribute 50% in cash
You must demonstrate financial capacity upfront
Who Is Eligible for the IGP?
To qualify, your business must:
- Be an Australian-registered company with ABN & GST
- Have turnover under $20 million (past 3 years)
- Be developing a genuinely innovative solution
- Operate within an eligible priority sector
- Have a clear commercialisation strategy
Who Should NOT Apply (Avoid Rejection)
You are unlikely to qualify if:
- Your project is a minor upgrade or improvement
- You are seeking funding for general business expansion
- You cannot match the funding contribution
- Your idea is not validated or lacks market demand
This is one of the biggest reasons applications fail.
What Are the NRF Priority Sectors?
To be eligible, your project must align with one of the following:
- Value-added resources
- Agriculture, forestry, fisheries
- Transport technologies
- Medical science
- Renewable & low-emission technologies
- Defence capability
- Advanced manufacturing & digital technologies
If you’re building in clean tech, medtech, agtech, or advanced manufacturing, you’re in a strong position.
How the Application Process Works
Step 1: Advisory Service (Mandatory)
- Apply via business.gov.au
- Receive response within ~10 working days
- Work with an Industry Growth Adviser
- Develop a commercialisation strategy
Step 2: Grant Application
Once your strategy is complete, apply for funding.
Applications are assessed based on:
- Innovation level
- Commercial viability
- Market demand
- Alignment with program goals
Common Reasons Applications Fail
Even strong businesses get rejected due to:
- Mislabelled “innovation”
- Incorrect Technology Readiness Level (TRL)
- Weak financial evidence for co-investment
- Starting the project before approval
- Lack of clear go-to-market strategy
Small mistakes can cost millions in funding.
IGP vs Other Government Grants in Australia
| Program | Funding | Best For |
|---|---|---|
| IGP | $50K–$5M | Innovation & commercialisation |
| R&D Tax Incentive | % rebate | Ongoing R&D activities |
| State Grants | Varies | Local business expansion |
The IGP is one of the largest non-dilutive funding opportunities available.
Why Timing Matters in 2026
While applications remain open year-round:
Funding is limited and highly competitive
Industry insights suggest a significant portion of the funding pool is already allocated, meaning:
- Earlier applications have higher success rates
- Delays can reduce your chances
Free Grant Eligibility Assessment
If you’re considering applying, don’t guess.
👉 Book a Free Grant Eligibility Assessment with Infinity22
Our expert grant writers will:
- Assess your eligibility
- Identify the best funding pathway
- Help structure a winning application
Avoid costly mistakes and maximise your funding potential
Real-World Insight (What Works)
Successful applicants typically:
- Have a clearly defined innovation
- Show strong commercial potential
- Provide evidence of market demand
- Demonstrate financial readiness
It’s not just about the idea — it’s about execution.
FAQs
Is the Industry Growth Program still open in 2026?
Yes, applications are open year-round. However, due to strong demand, funding is being allocated quickly, so early application is recommended.
What does matched funding mean?
Matched funding means your business must contribute the same amount as the grant.
For example, if you receive $200,000, your business must also invest $200,000 in eligible project costs.
Am I eligible for the IGP grant?
You may be eligible if your business:
- Is registered in Australia
- Has turnover under $20 million
- Is developing an innovative product or technology
- Operates in an NRF priority sector
Most unsuccessful applications fail due to weak innovation or lack of commercial readiness.
How hard is it to get IGP funding?
The program is highly competitive. Success depends on:
- Strong innovation
- Clear market demand
- Financial readiness
- Well-structured application
Many businesses are rejected due to avoidable mistakes.
How long does the IGP application process take?
- Advisory stage: ~2–6 weeks
- Grant application + assessment: several weeks to months
Timelines vary depending on project complexity and application quality.
What documents are required for the IGP application?
Typically required:
- Commercialisation plan
- Financial evidence (co-investment)
- Project plan and timeline
- Market validation
Can startups apply for IGP?
Yes. Startups can apply if they meet innovation, sector, and financial capability requirements.
Does the IGP replace the Entrepreneurs’ Programme?
Yes. The Industry Growth Program replaces the Entrepreneurs’ Programme with a stronger focus on innovation and priority sectors.
