ANNOUNCEMENT 29 Jul 2021

On 29 July 2021, the Australian Government launched the AUD 34.2 million Innovation Grant scheme.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Australian Government Community Grants Hub. Home. Grants. "Future Drought Fund - Drought Resilience Innovation Expression of Interest (EOI) and Grants Program." Available at:
https://www.communitygrants.gov.au/grants/future-drought-fund

Australian Department of Agriculture, Water, and the Environment: Community Grants Hub. Home. Grants. Future Drought Fund - Drought Resilience Innovation Expression of Interest (EOI) and Grants Program. "Future Drought Fund Drought Resilience Innovation Expression of Interest and Grants Program Grant Opportunity Guidelines." Available at:
https://www.communitygrants.gov.au/sites/default/files/documents/07_2021/drought-resilience-innovation-grants-program-eoi-grant-opportunity-guidelines.pdf

Australian Business. Home. Grants & Programs. Future Drought Fund: Drought Resilience Innovation. "Funding for organisations and farm businesses to undertake drought resilience projects." Available at:
https://business.gov.au/grants-and-programs/Future-Drought-Fund-Natural-Resource-Management-Drought-Resilience-Program

Australian Minister for Agriculture and Northern Australia. David Littleproud. Media Releases. "Future Drought Fund opens grants for $34.2 million to deliver innovation in drought resilience" of 29 July 2021. Available at:
https://minister.awe.gov.au/littleproud/media-releases/future-drought-fund-research-adoption-program

Inception date: 29 Jul 2021 | Removal date: 24 Nov 2021

Financial grant

On 29 July 2021, the Australian Minister for Agriculture and Northern Australia announced the launch of the AUD 34.2 (USD 25.3) million Innovation Grant, open to all types of businesses. Applications open 29 July 2021 and close 24 November 2021. This grant scheme is part of the overall Drought Resilience Innovation Grant scheme.

The objective of the funding is to provide eligible firms with a financing opportunity to prepare for future drought issues. According to the Innovation Grant guidelines, grants are dispersed for "projects that contribute to improved drought resilience and are focused on development, extension, adoption and activities to prepare for commercialisation." The grant supports new ideas being tested across farms, communities, industries, and regions.

The Innovation Grant is one of three types of grants a business can receive from the overall Drought Resilience Innovation Grant scheme. The remaining two grants are the Ideas Grant and the Proof-of-Concept Grant. An Ideas Grant, worth AUD 1 million (USD 740,000), supports strong proposals that require further development, whereas a Proof-of-Concept Grant, allocated AUD 2.4 (USD 1.8) million, funds feasibility testing for innovative products, processes, or services. All grant types support "innovative projects that equip farmers and agricultural-dependent communities and businesses with the tools and capacity to adapt, reorganise, transition and/or transform in preparation for drought conditions such as changing temperature, increasing variability and scarcity of rainfall, and changed seasonality of rainfall." Given that each grant type has a separate application and budget, and only the Innovation Grant exceeds USD 10 million, the reportable threshold for the GTA, only that particular grant opportunity was highlighted. 

In regard to the application process more specifically, interest applications open 29 July 2021 and close 8 September 2021. Eligible candidates will be contacted to apply for the grant, which opens for applications on 28 October 2021 and closes on 24 November 2021.

The Drought Resilience Innovation Grant is an initiative under the Future Drought Fund (FDF). To view more information on the FDF, and other sub-programs, please, see related state acts. 

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