Industry R&D Infrastructure Fund

The Research and Development (R&D) Tax Incentive is a government grant limited to Australian companies to stimulate Australian investment in Research and Development (R&D).
It offers offsets to certain company costs in carrying out eligible R&D activities. It is not a competitive grant but a targeted tax offset or expenditure rebate.
Reducing costs and risk of undertaking R&D activities for your business incentivises companies to create new or improved products, processes, and services.

To address this, the 2023-24 State budget allocated $15 million to create the Made in Victoria – Industry R&D Infrastructure Fund. This fund aims to encourage and leverage industry investment in R&D.

The Industry R&D Infrastructure Fund is a part of the Victorian Jobs and Investment Fund (VJIF). The VJIF is a government fund that supports investment and innovation, leading to sustainable job creation and long-term growth in Victoria.

The Industry R&D Infrastructure Fund will encourage Victorian companies to invest in new R&D infrastructure. This will help develop Victoria’s R&D capabilities in key industry sectors and increase spending on R&D by businesses in Victoria.

The funding will benefit both businesses and industries, and it should demonstrate how the project will enhance Victoria’s R&D capabilities in the long run.

The program will support new R&D infrastructure projects related to Victoria’s priority industries, such as new energy technologies (like wind, hydrogen, solar, and batteries), health technologies (including medical technology, biotechnology, pharmaceuticals, and consumer healthcare), food manufacturing and agriculture, defence, aerospace, space, and digital and advanced technologies (including advanced materials, robotics, artificial intelligence, 3D printing, and quantum technologies).

Projects aligned with other industry sectors and R&D service providers can also apply for funding. The program aims to support business investment in R&D, a key driver of innovation and economic growth. It will:

• Directly support industry investment in new or improved R&D infrastructure.
• Facilitate collaboration and valuable research partnerships between industry, universities, and research providers.
• Generate additional benefits from the investments, particularly in manufacturing, by strengthening supply chains and enhancing the skills of the workforce, with a focus on priority industry sectors.
• Support R&D infrastructure that enhances the capabilities of Victorian industries to seize opportunities in emerging areas of innovation.

Who can apply?

1. Businesses that have identified specific R&D equipment or infrastructure necessary for their R&D activities and establish themselves in Victoria.

2. Businesses that offer R&D services.

Successful applicants should ideally complete their project activities within 12 months. However, in certain cases, project timelines beyond 12 months can be negotiated on an individual basis.

Trust structures:

An Incorporated Trustee can apply on behalf of a Trust if the Trustee:

• Remains sufficiently liable for the performance of any agreement signed.
• Can meet the eligibility criteria mentioned above.

Partnerships:

Individual Partners can apply on behalf of a partnership if the partners:

• Remain jointly and severally liable for the performance of any agreement they sign.
• Can meet the eligibility criteria mentioned above.

To be eligible for the fund, an organisation must:

a) Be a legally registered business in Victoria with an Australian Business Number (ABN) and have a minimum trading history of 3 years.

b) Have an operational presence in Victoria.

c) Employ at least 20 full-time equivalent (FTE) staff or have an annual turnover greater than $1.5 million.

How we can assist you

We assist the client to:

• Identify the eligible R&D activities
• Identify the eligible R&D costs
• Prepare the R&D plan
• Prepare the R&D budget
• Lodge the Activity Registration with AusIndustry (Innovation Australia)
• Provide recommendations for other grants to go for
• Provide recommendations of other providers that can assist them commercialise or export their product (where applicable)

What we will provide to you

We will provide you with the following:

• Registration number provided by Innovation Australia
• R&D schedule that is used to populate the Income Tax Return (ITR)
• Working documents to show how I arrived that the R&D expenses
• Any follow-up advice if there are questions regarding how to complete the R&D schedule in the ITR

If you would like to apply for the Fund or have any further questions. Please speak to one of our team members; we will happily guide you through the easy process. Email