- Create a tool to support Northern Territory (NT) start-ups and businesses to navigate the funding and investment landscape.
- Create guidance for NT start-ups and business on what support, grants and programs are available.
Summary
This website was created as a tool to support Northern Territory (NT) start-ups and businesses to navigate the funding and investment landscape.
Guidance for Territory start-up, small and medium Territory businesses was created in the following Department of Industry, Tourism and Trade innovation focussed grants, programs, outcomes, initiatives and partnerships.
- Business Innovation Program
The Business Innovation Program's innovation commercialisation plan now includes guidance on answering key innovation commercialisation questions. Innovators in Residence strengthen support tools for applicants in their planning, development and commercialisation phases of the start-up journey.
Business Innovation participants Universal Site Monitoring and Effusiontech Pty Ltd (Speed3d) have successfully commercialised and been referred to the Local Jobs Fund.
- Business Acceleration Program
Launched in August 2018, the Business Acceleration Program (BAP) is an initiative of the Department of Industry, Tourism and Trade, delivered by the Australian Centre for Business Growth.
It is an intensive business growth program that enables chief executive officers (CEOs) / managing directors (MDs) and executives of Territory based companies to identify growth opportunities, overcome business challenges, and drive competitive advantage. The program provides participants with the knowledge and skills they need to develop as leaders, accelerate company growth and compete in a global marketplace.
BAP is now in its fourth year of operating in the Territory and for the FY 2021/22 comprises:
- one day Assessment Clinics (40 placements fully NT Government subsidised); one day sessions for CEO’s of companies employing 5 to 200 employees. Coaching comprises face-to-face coaching and training of groups of CEO’s with one growth expert for each four CEO’s
- Business Growth Modules (eight placements 50% NT Government subsidised); a series of three, three day courses over a nine month period for CEO’s, and at least two of their executives, of companies with 12 to 199 employees
- Growth Ramp (24 fully NT Government subsidised, and a popular new inclusion for 2020-21); a series of six, one day courses over a six month period for CEOs of smaller businesses with 5 to 11 employees who are looking to move to the next level
- Execute and Grow (six placements fully NT Government subsidised, new inclusion for 2021-22) is for CEOs, MDs and executive team members of companies that have attended other AUCBG Growth Programs and want to continue to grow, with guidance from AUCBG and their growth experts
- Immediate Business Acceleration Program (uncapped participation and fully NT Government subsidised) is a series of resources, including videos, articles and live Zoom sessions, which can be accessed by any Territorian looking to rebound and grow; the addition of this program is in response to COVID-19 and assisting businesses to stabilise and grow.
Results for the 2020/21 financial year reported by 26 companies, who have participated in the Business Acceleration Program and responded to the annual Growth Tracker Survey, showed, despite the effects of COVID-19, they achieved in aggregate:
- 10% growth in revenue
- 86% growth in profit
- 20% growth in FTE jobs (employment decreased by 0.7% in the NT and by 4.3% nationally)
- 1% growth in exports.
- Advanced Manufacturing Ecosystem Fund and Emerging Aviation Technology Partnerships
Due to the rise of innovative and pioneering companies in the NT, the Territory Government opened $7.5 million dollars of funding for Territory entities engaged in or wishing to undertake advanced manufacturing. The Advanced Manufacturing Ecosystem fund seeks to build the advanced manufacturing ecosystem in the Territory through providing grants to industry led projects located in the NT who commercialise new products and processes.
This funding source neatly aligns with the Australian Government’s Emerging Aviation Technology Partnerships Program (EATPP) objective of growing manufacturing in emerging aviation technology. The EATPP will support strategic partnerships with industry, using emerging aviation technology to address community needs, particularly in regional Australia. Grants will be provided to industry-led initiatives which to support the use and advancement of emerging aviation technologies (such as electric engines, drones and electric vertical take-off and landing aircraft) to address priority community, mobility and cargo needs in regional Australia.
- Regional Territory Funding and Investment Resources
Refer below for additional external directories and support tools which list grants and funding programs available to Territorians.
Charles Darwin University research grants and business development
City of Darwin funding resources
City of Palmerston funding resources
Alice Springs grants and sponsorships
Katherine Town Council grants and sponsorships
Next steps
The development of an updated digital engagement platform featuring an interactive ecosystem is currently underway. The new website will allow innovators to easily navigate the funding and investment landscape in the Territory relevant to start-ups and entrepreneurial upskilling.