Federal government launches growth program to support Aussie startups 

The Australian Government has officially sent off its $392 million Industry Growth Program, a drive aimed toward aiding startups and independent businesses to popularise and develop their companies. 

The report suggested that government authorities recognise organisations with the need and hazard hunger to enhance and convey novel products and services. It likewise illustrated ways Australia can do whatever it may take to interpret its elite research performance into commercialisation results, assisting with growing a different economy while conveying generously compensated positions. 

“While we outperform in the creation of start-ups and small businesses against other OECD countries, our industry structure is overly skewed to small businesses with less than 20 employees. It’s hard to compete when you are small,” chair of Industry Innovation and Science Australia, Andrew Stevens, said. 

The Industry Growth Program will convey advisory administrations from a national network of expert business development and commercialisation advisers, giving direction on looking for investment, market testing, business models and networking. 

Qualified businesses under the program will likewise have access to matched grant subsidising going from $50,000 to $5 million. 

The Industry Growth Program plans to help projects under the National Reconstruction Fund prioritise regions and scale the pipeline of businesses attempting to change and differentiate Australia’s economy. 

“Australia’s small businesses are known for their ingenuity and innovation – how adaptive, resilient and passionate they are.  The Industry Growth Program will help turbocharge this innovation,” Minister for Small Business, Julie Collins, said.  

“This is good for jobs, good for our economy and good for Australia’s small businesses. This is another way our Government is backing Australia’s small businesses to succeed.”