To be eligible, businesses must have:
- an ABN registered in NSW and be based in NSW,
- fewer than 200 employees,
- been trading for at least 12 months,
- at least $75,000 in sales revenue or operating expenditure within the last 12 months or previous financial year,
- a product or service (which may still be in development) that it intends to market within 12 months that directly addresses the theme for Innovation Districts Challenge Three (entrepreneurship).
- ownership that is at least 75 per cent Australian and is not more than 50 per cent owned by another business.
To demonstrate eligibility, businesses must also provide:
- an operating profit and loss statement for the last 12 months or previous financial year,
- brief profiles of key personnel such as a CV or LinkedIn accounts,
- nomination of their primary innovation district partner.
The following will not be considered eligible for funding:
- solutions that do not directly respond to the challenge statement for R&D solutions that strengthen the entrepreneurship capability of the State for a post-COVID-19 economy.
- solutions designed to improve internal business processes,
- a Commonwealth, state or local government agency or body including government business enterprises.
Page link: https://www.business.nsw.gov.au/innovation-and-research/innovation-scaleup-fund/innovation-districts-challenges/eligibility