A brief summary of public government grants available for startups and small businesses for Sydney in 2016.
The report was put together by Duy Nguyen under the supervision of Joshua Flannery at UNSW Innovations.
2. CONTENTS
A. Overview
1. Sydney
2. Startup Culture
B. NSW Government Programs
1. Purpose
2. Amount Offered
3. Procedures/Eligibility
D. Federal Government Programs
1. Purpose
2. Amount Offered
3. Procedures/Eligibility
E. Successful Businesses
1. Specialisations
2. Funding Stage
3. Year of Establishment
4. Total Funding
4. Sydney
Being Australiaâs financial and economic hub, it is only natural that Sydney excels in
numerous industries as well as simply being a place to thrive in. Sydney currently has the
largest population in Australia, is one of the worldâs most influential and multicultural
cities. According to Australiaâs ABS, NSW is still the location of the largest and most
diverse manufacturing base.
Major Infrastructure
Investment
Manufacturing
Financial Services
Real-time Digital
Technologies
Aviation/Aerospace
Tech
Electronics
Biotechnology
Education
Mobile Application
Tourism Oil Refinery
Notable Industries in Sydney
5. Startup Culture
Sydney is the city to be for startups, where innovation in a diverse environment of industries
is constantly booming. With both domestic and foreign entrepreneurs pitching in new ideas,
and a strong support system (private and public), Sydney is the perfect breeding ground for
ideas that become either a life changing mobile application or even the next greatest
aviation project.
Talent
âThe city is a magnet for business talent, and produces an
abundance of opportunities, making it a great launching
pad for your companyâs futureâ - Penguin Management
Attraction
âWanting to capitalise on Sydneyâs growing
momentum, we see more international brands from all
corners of the globe looking for retail space in Sydneyâ
-Penguin Management
Talent
âSydney has a global outlook and enjoys the high standard of supporting
infrastructure that one would expect from a world cityâ - Virgin
Ranked part of Top 10 Cities for startups- Forbes
Prestige
Competitive
âThe biggest tech startup ecosystem in
Australia is in Sydneyâ - City of Sydney
7. Jobs For NSW
âJobs for NSW is an innovative government-backed initiative that
aims to strengthen the NSW economy by generating rewarding
jobs and accelerating high-potential sectors of the State's
economyâ
âGrants for promising startupsâ
Minimum Viable Product Grant Building Partnerships Grant
Target: Potential Startups that do not produce
revenue yet
Industry: Enabling Technology
Amount: $25,000 (MAX)
Requirements:
(1) Must be resident of co-working space,
incubator, or accelerator
(2) Provide recent financial statements
Applications:
(1) Preliminary Assessment Form
Target: Revenue generating startups
Industry: Enabling Technology
Amount: $100,000 (Max)
Requirements:
(1) Must have an ABN registered
(2) Focused on tech development
(3) Owns relevant intellectual property
(4) Relations with customers for feedback or
potential distributor
Application:
(1) Preliminary Assessment Form
Link: www.jobsfornsw.com.au/how-we-help/start-ups
8. Office of State Revenue
Purpose: Designed to encourage the nearly 650,000 small businesses in New South
Wales that do not pay payroll tax to hire new employees and expand their business
SMALL BUSINESS GRANT
Business Requirements
(1) Must have an active ABN
(2) Not have a payroll tax liability
Employment Requirements
(1) Person employed in a position that is a new job
(2) Employment commences at least on 1 Jul 2015
and before 1 Jul 2019
(3) Employment maintained for 12 months
(4) Number of full-timers must increase and be
maintained over 12 months
(5) Services performed wholly or mainly in NSW
Registration: Online Application
Link: www.osr.nsw.gov.au/grants/sbg/online
Amount offered:
$2000 per full-time
Formula = Annual Grant Amount x C/D
C = Number of hours worked by the employee
during 12-month period
D = Average number of hours worked by full-
timers during 12-month period
Method: Electronic Funds Transfer
9. City of Sydney
BUSINESS IMPROVEMENT GRANTS
Purpose: Provides targeted support to improve precinct amenity and stimulate business activity;
allows business owners to undertake visual improvements to space
Amounts Offered: $10,000
Eligibility:
(1) Offer a project within the City of Sydney boundaries
(2) Must be either
(a) Not-for-profit organisation able to demonstrate they are properly constituted with
statement of purpose and an organisational structure
(b) Social and creative enterprise organisation, including for-profit enterprises, and able to
demonstrate proper constituency with statement of purpose and organisational structure
(c) Individual auspiced by an incorporated not-for-profit organisation
Key Dates:
(1) Application should be submitted online at least 12 weeks prior to activity taking place
(2) Activity should take place within 12 months of the approval date
Links: http://www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/business-
grants/business-improvement-grants
10. City of Sydney
INNOVATION GRANTS
Purpose: Aimed to support development or implementation of new technologies or processes that
are currently not being used in local market, and also have potential to reduce greenhouse gas
emissions and improve efficiencies applied to the area
Amount Offered:
(1) $20,000 (MAX) for feasibility studies that investigate innovative environmental solutions
(2) $80,000 (MAX) demonstration projects for solutions to reduce resource consumption
Eligibility:
(1) Offer a project within the City of Sydney boundaries
(2) Must be either
(a) Not-for-profit organisation able to demonstrate they are properly constituted with
statement of purpose and an organisational structure
(b) Social and creative enterprise organisation, including for-profit enterprises, and able to
demonstrate proper constituency with statement of purpose and organisational structure
(c) Individual auspiced by an incorporated not-for-profit organisation
Link: www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/business-
grants/innovation-grant
11. City of Sydney
CULTURAL AND CREATIVE GRANTS
Purpose: Supports projects and initiatives that provide opportunities for creative participation,
enhance creativity in public and strengthen sustainability and capacity of the cityâs cultural and
creative industries
Amount Offered:
(1) $5000 - $50,000
(2) Annual project funding or multi-year project (3 years max)
Eligibility:
(1) Offer a project within the City of Sydney boundaries
(2) Grantees may be required to provide sponsorship benefits back to City of Sydney community
(3) Must be either
(a) Not-for-profit organisation able to demonstrate they are properly constituted with
statement of purpose and an organisational structure
(b) Social and creative enterprise organisation, including for-profit enterprises, and able to
demonstrate proper constituency with statement of purpose and organisational structure
(c) Individual auspiced by an incorporated not-for-profit organisation
Link: http://www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/cultural-
grants-sponsorships/cultural-and-creative-grants
13. Easy Access
For the most efficient means of accessing information to public grants, venture capital,
advisory and more, the Australian Government has provided a single source that
channels multiple resources that will help any startup and business get the edge it needs
to succeed as a competitive entity in Sydney.
âAn Australian Government Initiativeâ
Provides six main features that will help your business thrive
Plan & Start
Grants & Assistance
Run
Advisory Services
Exit
Events
14. Procedures
Process Current Grants
Go through âGrants & Assistanceâ1
2
3
Select all industries that apply to
current startup
State annual turnover
4 State Years of Operation
5 Select from grants best suitable
for current needs
âAn Australian Government Initiativeâ
âBusiness Research & Innovation Initiativeâ
âCooperative Research Centres (CRC)
Programmeâ
âWomen in STEM and Entrepreneurshipâ
âDefense Industryâ
âEntrepreneursâ Programmeâ
âSustainability Advantage Programâ
15. Federal Support
AUSTRALIAN RESEARCH & DEVELOPMENT
TAX INCENTIVE
Purpose: R&D Corporations
Amount Offered: 45% refundable tax offset
Eligibility:
(1) Have incurred at least $20,000 in eligible R&D deductions
(2) Must be incorporated under an Australian law
(3) Incorporated under foreign law but an Australian resident for income tax purposes
(4) Incorporated under foreign law and you both
(a) Resident of country which Australia has double tax agreement that includes permanent
establishment
(b) Carrying on business in Australia through permanent establishment as defined in double
tax agreement
Link: www.ato.gov.au/Business/Research-and-development-tax-incentive/
16. Federal Support
SMALL BUSINESS TAX BREAK
âGrowing jobs and small business - expanding accelerated depreciation for small businessâ
Purpose: Allows small businesses to claim an immediate deduction for assets they start to use;
provided each depreciable asset costs
Amount Offered: $20,000 (MAX)
Eligibility:
(1) Any business that meets the definition of a small business entity with an aggregated turnover
less than $2 Million
(2) Can claim immediate deduction for cost of depreciating assets acquired for less than $20,000
(3) All depreciating assets are eligible, expect for small number of exclusions
More Information
Link: www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-
businesses/Small-Business---expanding-accelerated-depreciation/
17. Federal Support
WOMEN IN STEM AND ENTREPRENEURSHIP
GRANT
Purpose: Provides funding for businesses, not-for-profits and research organisations to support
outreach programs that target girls and women to develop interest in entrepreneurship and to build
professional networking
Amount Offered: $5000 - $250,000 per project
Eligibility: (For project)
(1) Have at least $5000 in total expenditure
(2) Project takes no longer than 24 months to complete
(3) Aims to address discrimination and inequality for girls and women in STEM and entrepreneurship
(4) Must meet merit criteria (see link for all information)
Link: www.business.gov.au/assistance/women-in-stem-and-entrepreneurship
18. Federal Support
BUSINESS RESEARCH AND INNOVATION INITIATIVE
Purpose: For innovative businesses who have potential to create new products and innovations that
meet defined government needs, while still retaining intellectual property and right to commercialise
their ideas
Amount Offered: (1) $100,000 (MAX) for challenge winners (2) $1 Million (MAX) for most successful
Eligibility:
(1) Must be non-tax exempt incorporated
(2) Have an ABN
(3) Have a turnover of less than $20 Million for each of the last 3 years
(4) Must show that you can fund any project costs the grant doesnât cover
Process:
(1) Must go through five challenges to receive grant
(a) On-the-spot technology for measuring parathyroid surface residue
(b) Tracking the effect and value of information products
(c) Digitally enabled community engagement in policy and programme design
(d) Improve transparency and reliability of water market information
(e) Sharing of information nationally to ensure child safety
Link: www.innovation.gov.au/page/business-research-and-innovation-initiative
20. Sydney Startups
Spacer
Total Funding: $1 Million
Funding Stage: Seed Capital
Founded: 2015
E-Commerce
Storage
Canva
Total Funding: $45.6 Million
Funding Stage: Series A
Founded: 2012
Web & Graphic Design
Photo Editing
LawPath
Totaling Funding: $1.74 Million
Funding Stage: Unknown
Founded: 2013
E-Commerce
Legal Services
Shoes of Prey
Total Funding: $25.91 Million
Funding Stage: Series B
Founded: 2009
E-Commerce
Womenâs Fashion
Shoes
Timelio
Total Funding: $500K
Funding Stage: Seed Capital
Founded: 2014
Financial Services
FinTech
Invoice2go
Total Funding: $50 Million
Funding Stage: Series C
Founded: 2002
Mobile Payment
Online Applications
Fin Tech
21. Sydney Startups
Unlockd
Total Funding: $16 Million
Funding Stage: Series A
Founded: 2014
Advertising
Telecommunications
Media
Ingogo
Total Funding: $30.39 Million
Funding Stage: Unknown
Founded: 2011
Taxi Service
Travel
Mobile Application
Divvy
Total Funding: $5.3 Million
Funding Stage: Series B
Founded: 2011
Real Estate
Mobile Application
Drive Yello
Total Funding: $1.24 Million
Funding Stage: Unknown
Founded: 2014
Food & Beverage
Delivery
Hospitality
CoinJar
Total Funding: $1.06 Million
Funding Stage: Seed Capital
Founded: 2013
FinTech
Bitcoin
Bugcrowd
Total Funding: $22.65 Million
Funding Stage: Series B
Founded: 2012
Crowdsourcing
Cyber Security
22. Sydney Startups
Stockspot
Total Funding: $1.2 Million
Funding Stage: Series A
Founded: 2013
Personal Finance
Financial Services
Vinomofo
Total Funding: $19.16 Million
Funding Stage: Unknown
Founded: 2011
Wine and Spirits
Food & Beverage
Brewing
Airtasker
Total Funding: $24.71 Million
Funding Stage: Series B
Founded: 2012
E-Commerce
Web Development
Mobile Applications
Tinybeans
Total Funding: $1.75 Million
Funding Stage: Seed Capital
Founded: 2012
Photography
Journalism
Videography
Cartesian
Total Funding: $5.27 Million
Funding Stage: Unknown
Founded: 1990
Consulting Services
FinTech
Financial Services
Ninjablocks
Total Funding: $3.65 Million
Funding Stage: Unknown
Founded: 2012
Developr APIs
Home Automation
Open Source
23. By Duy Nguyen Boston College Carroll School of
Management
UNSW Innovations Class of 2018
BEST OF LUCK