Sydney gov startups grants 2016 - UNSW Innovations ft duy nguyen

Sydney Startup Support System Public Sector

By Duy Nguyen

CONTENTSA. Overview

1. Sydney 2. Startup Culture

B. NSW Government Programs1. Purpose2. Amount Offered 3. Procedures/Eligibility

D. Federal Government Programs1. Purpose2. Amount Offered3. Procedures/Eligibility

E. Successful Businesses1. Specialisations2. Funding Stage3. Year of Establishment4. Total Funding

Sydney

SydneyBeing 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 ServicesReal-time Digital Technologies

Aviation/Aerospace Tech

Electronics

Biotechnology

Education

Mobile Application

Tourism Oil Refinery

Notable Industries in Sydney

Startup CultureSydney 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

NSW Government Programs

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 GrantTarget: 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:(3) 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

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 ApplicationLink: 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 periodD = Average number of hours worked by full-timers during 12-month period

Method: Electronic Funds Transfer

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

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


Link: www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/business-grants/innovation-grant

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


Link: http://www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/cultural-grants-sponsorships/cultural-and-creative-grants

Federal Government Programs

Easy AccessFor 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

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”

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/

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 InformationLink: www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-businesses/Small-Business---expanding-accelerated-depreciation/

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

Federal Support

BUSINESS RESEARCH AND INNOVATION INITIATIVEPurpose: 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:(5) 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

Successful Sydney Startups

Sydney Startups

SpacerTotal Funding: $1 Million

Funding Stage: Seed CapitalFounded: 2015

E-CommerceStorage

CanvaTotal Funding: $45.6 Million

Funding Stage: Series AFounded: 2012

Web & Graphic DesignPhoto Editing

LawPathTotaling Funding: $1.74 Million

Funding Stage: UnknownFounded: 2013

E-CommerceLegal Services

Shoes of PreyTotal Funding: $25.91 Million

Funding Stage: Series BFounded: 2009

E-CommerceWomen’s Fashion

Shoes

TimelioTotal Funding: $500K

Funding Stage: Seed CapitalFounded: 2014

Financial ServicesFinTech

Invoice2goTotal Funding: $50 Million

Funding Stage: Series CFounded: 2002

Mobile PaymentOnline Applications

Fin Tech

Sydney Startups

UnlockdTotal Funding: $16 Million


Advertising Telecommunications

Media

IngogoTotal Funding: $30.39 Million


Taxi ServiceTravel

Mobile Application

DivvyTotal Funding: $5.3 Million


Real EstateMobile Application

Drive YelloTotal Funding: $1.24 Million


Food & BeverageDelivery

Hospitality

CoinJarTotal Funding: $1.06 MillionFunding Stage: Seed Capital

Founded: 2013

FinTechBitcoin

BugcrowdTotal Funding: $22.65 Million


CrowdsourcingCyber Security

Sydney Startups

StockspotTotal Funding: $1.2 Million


Personal FinanceFinancial Services

VinomofoTotal Funding: $19.16 Million


Wine and Spirits Food & Beverage

Brewing

AirtaskerTotal Funding: $24.71 Million


E-CommerceWeb Development

Mobile Applications

TinybeansTotal Funding: $1.75 MillionFunding Stage: Seed Capital

Founded: 2012

Photography Journalism

Videography

CartesianTotal Funding: $5.27 Million


Consulting ServicesFinTech

Financial Services

NinjablocksTotal Funding: $3.65 Million


Developr APIsHome Automation

Open Source

By Duy Nguyen Boston College Carroll School of ManagementUNSW Innovations Class of 2018UNSW School of Business 2016

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