Government support

Business workshops

A good first step to growing your business is to attend some of IBA’s workshops. These workshops have been created to help Aboriginal and Torres Strait Islander people start and grow their businesses

Find out more about the workshops. 

Business support

Once your business idea becomes more established, IBA can work with you to understand your business goals, develop your ideas and identify what type of support your business may need to remain successful. Our business support team can also link you to other networks and resources to get you information and support to help you hit your goals and provide access to an external business consultant to provide your business with specialised support.

Business finance

When you’re ready and have a solid business strategy and plan in place, IBA has a suite of financial products that can assist to make your business ideas become a reality. This could include access to:

• Start-Up Finance Package - designed to help new businesses get off the ground, this package can include up to 30% of a new business loan awarded as a grant. The loan amount can be up to $100,000 with a maximum loan term of 7 years, with low-interest rates and flexible terms. Loan repayments will be structured to suit the purpose and cash flow of the business. The grant component is available to cover capital expenditure items. This package is targeted specifically at small to medium start-ups that have been trading for less than 2 years and with less than $400,000 in annual turnover.
• Producer Offset Loan - designed to assist Aboriginal owned production companies to finance eligible Australian documentary, film or television projects. Provided to complement investment from Screen Australia, any state government film-funding agency or broadcaster. If you’re an Aboriginal producer or director, now your projects and stories can get the support they need.
• Business Loan Package - designed to assist you with working capital requirements, purchase of existing businesses, plant and equipment, and other commercial assets, so you can start planning your business future right now.
• Performance Bonds - if you are successful with a tender and the beneficiary requires you to provide a bank guarantee or bond for 5% or more of the value of the contract, IBA may able to either issue the bond directly to the beneficiary, or provide the funds to a bank to issue a bank guarantee on your behalf.
• Invoice Finance - invoice finance provides businesses with revolving cash flow based on the value of credit sales or major contracts. IBA can provide invoice finance to assist Aboriginal-owned businesses to take advantage of new contract or sales opportunities that may otherwise be out of reach.

Remember, before you get in touch with your local IBA business support officer, it’s a great idea to have some basic information ready about your business history, financials and future plans to assist us in helping you and providing you with the right advice.

The funding is available through 3 licensed private sector venture capital fund managers.

The BTF fund managers screen investment proposals and make venture capital investments. They also provide Australian biomedical companies with the expertise and access to networks to be a success.

Each BTF fund manager will build a portfolio of investments. They'll invest in companies that develop and commercialise innovative science to improve the health and wellbeing of Australians.

A total of $501.25 million is available through the Biomedical Translation Fund. A total of $250 million is from Commonwealth capital and $251.25 million is from private sector capital.

Frequently asked questions

Is this a competitive grant?

Yes, this is a competitive process. At the end of stage 1, applicants may submit their innovation project plan for assessment, and the opportunity to receive up to $30,000 grant funding to develop their innovation in stage 2.

Can I choose which advisor I would like to work with?

Yes, there are a number of advisors that have been pre-approved for the program, and offer different support options; view ecosystem advice and select filter for Business Innovation Program.

If I am successful at securing grant funding in stage 2, do I have to contribute my own money to the development of my innovation? 

You are not required to contribute a set amount, however you will be required to demonstrate the full amount required to develop an investible prototype or minimum viable product of your innovation, and how you will be funding the project in addition to the grant funding if needed.

The BAP comprises:

Assessment Clinics (fully NT Government subsidised)
One day sessions for CEOs of companies employing 5 to 200 employees. Coaching comprises face-to-face coaching and training of groups of CEOs with one growth expert for each 4 CEOs.

Business Growth Modules (50% NT Government subsidised)
A series of 3, 3-day courses over a 9 month period for CEO’s, and at least 2 of their executives, of companies with 12 to 199 employees.

Growth Ramp (fully NT Government subsidised)
A series of 6, one-day courses over a 6 month period for CEOs of smaller businesses with 5 to 11 employees who are looking to move to the next level.

Self-Employment Assistance can help you with your business idea or existing business through its flexible services including:

• exploring self-employment workshops
• business plan development
• free accredited small business training
• business advice sessions
• business health checks
• small business coaching.

You may also be eligible for financial support while you start and run your business as part of Small Business Coaching.

CSIRO programs connect Australian researchers, start-ups and small and medium sized enterprises with research, expertise and capabilities to develop new skills, products and services and accelerate growth.

Program categories include:

• Innovate to Grow
• CSIRO Kick-start
• Innovation Connections
• Innovation Programs
• STEM + Business.

We design and deliver programs that span our department’s portfolio including grants, tax incentives and tailored advice to support your business at each of its different stages.

Entrepreneurs’ Programme

The Entrepreneurs’ Programme provides you with access to business advisory services and grant funding, delivered through a national network of over 170 industry experts around Australia, and includes:

• Innovation Connection to research your innovation
• Accelerating Commercialisation to commercialise your project
• Growth Roadmap and High Growth Accelerator to grow your business

Research and Development Tax Incentive Program

The Research and Development Tax Incentive is the Australian Government’s key mechanism to stimulate research and development investment in Australia. It offers a tax offset for companies conducting eligible research and development activities. AusIndustry and the Australian Tax Office jointly administer the tax incentive.

Cooperative Research Centres Program

Our Cooperative Research Centres (CRC) Program supports Australian industries’ ability to compete and produce. We do this by helping you partner with the research sector to solve industry-identified problems in 2 ways:

• CRC grants support medium to long-term industry-led collaborative research for up to 10 years
• CRC Projects grants support short-term industry-led collaborative research for up to 3 years.

Supporting priority initiatives

We also help design and deliver Australian Government priority initiatives, including:

• Manufacturing Modernisation Fund: co-funded grants to help manufacturers modernise and upskill.
• Boosting Female Founders Initiative: mentoring and grants to help female entrepreneurs get access to finance and support to grow their start-ups
• Business Research and Innovation Initiative: grants for businesses to develop innovative solutions to government challenges
• Inspiring Australia: grants and prizes to eligible schools, individuals and organisations.

Who can apply

You can apply if you are a small business with:

• an annual turnover of more than $75,000 and less than $10 million
• a Territory enterprise
• a valid Australian business number
• at least one full-time and no more than 20 full-time employees.

What you can get

You can apply for up to $10,000 based on a 50-50 co-contribution. The funding can be used for services in any of the following grant categories:

• strategy
• marketing
• operations
• financials
• people and culture.

Mentoring and coaching is also available after your business has completed one of the above grant categories.