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Sydney gov startups grants 2016 - UNSW Innovations ft duy nguyen

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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.

Published in: Business
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Sydney gov startups grants 2016 - UNSW Innovations ft duy nguyen

  1. 1. Sydney Startup Support System Public Sector By Duy Nguyen
  2. 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
  3. 3. Sydney
  4. 4. Sydney Being Australia’s 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 world’s most influential and multicultural cities. According to Australia’s 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. 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 “The city is a magnet for business talent, and produces an abundance of opportunities, making it a great launching pad for your company’s future” - Penguin Management Attraction “Wanting to capitalise on Sydney’s growing momentum, we see more international brands from all corners of the globe looking for retail space in Sydney” -Penguin Management Talent “Sydney has a global outlook and enjoys the high standard of supporting infrastructure that one would expect from a world city” - Virgin Ranked part of Top 10 Cities for startups- Forbes Prestige Competitive “The biggest tech startup ecosystem in Australia is in Sydney” - City of Sydney
  6. 6. NSW Government Programs
  7. 7. Jobs For NSW “Jobs 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 economy” “Grants for promising startups” 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. 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. 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. 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. 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 city’s 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
  12. 12. Federal Government Programs
  13. 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. “An Australian Government Initiative” Provides six main features that will help your business thrive Plan & Start Grants & Assistance Run Advisory Services Exit Events
  14. 14. Procedures Process Current Grants Go through “Grants & Assistance”1 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 “An Australian Government Initiative” “Business Research & Innovation Initiative” “Cooperative Research Centres (CRC) Programme” “Women in STEM and Entrepreneurship” “Defense Industry” “Entrepreneurs’ Programme” “Sustainability Advantage Program”
  15. 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. 16. Federal Support SMALL BUSINESS TAX BREAK “Growing jobs and small business - expanding accelerated depreciation for small business” 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. 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. 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 doesn’t 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
  19. 19. Successful Sydney Startups
  20. 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 Women’s 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. 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. 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. 23. By Duy Nguyen Boston College Carroll School of Management UNSW Innovations Class of 2018 BEST OF LUCK

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