Businesses applying for funding will use the grant to manage and finance their business expansion, including but not limited to:
- increasing employment
- improving management processes and systems to increase productivity and efficiency
- introducing product processes or systems innovations
- entering new markets
- increasing turnover/sales
Applications will be evaluated by an assessment panel including representatives from the Office of Small Business and independent business experts.
Applications will need to meet both the eligibility criteria and demonstrate merit against the assessment criteria including.
- the extent to which the project will support the business to reach its high-growth goals
- potential and likelihood the activity will create jobs growth
- value for money
- All applications are checked for eligibility
- Eligible applications are considered by the Stage 1 shortlisting panel
- All applicants will be notified about their eligibility and Stage 1 shortlisting panel outcome
- Successful applicants will be invited to pitch to the Stage 2 assessment panel
Pitching to the panel
Pitching to the panel is a critical stage in the application process and provides an opportunity to draw out the merits of the proposal, and for panel members to ask relevant questions. If an invitation to pitch is made, applicants are strongly encouraged to provide a strategiv overview of their business plan and any other material to support the application.
Where appropriate, teleconferencing and videoconferencing will be used should the representative of the business not be available to attend in person.
Applications must demonstrate a clear link between the proposed project and the challenges faced by the business. To be successful, the assessment panel must be certain that the proposed project will assist the business to meet the challenges identified. Non-targeted, or generic proposals will not be accepted.