The Queensland Government's Business and Industry Transformation Incentives are available for businesses to undertake projects that will promote transformation in priority industries.

Project Objective

The focus of these financial incentives is on projects that will drive Queensland towards an internationally competitive, sustainable and knowledge-intensive future.

Incentives are available for progressive businesses with significant growth potential within Queensland. Applications are particularly encouraged from groups of businesses working on a collaborative project.

The incentive scheme essentially seeks projects that will:

•  be transformational at a business as well as an industry level
•  forge change, lift standards and drive substantial improvements for customers and/or suppliers
•  raise competitiveness in priority industries, and ultimately in the Queensland economy.

Funding Available

Incentives of $30,000 to $250,000 (excluding GST) are available for approved projects, and are provided for up to 50 per cent of the cost of eligible activities. 

Eligibility Criteria

• operate or intend to operate in a priority industry sector 

• have an established operating base in Queensland
• provide a minimum of the last two years financial statements
• have an Australian Business Number (ABN) and be registered for GST, and
• be able to provide funds equal to any incentive awarded from your own financial resources (not in-kind).

Your project must:

• demonstrate the potential to be 'transformational' within a priority industry sector
• demonstrate that the benefits will be realised in Queensland, not interstate or overseas
• link clearly to your business plan, and
• be supported by a fully costed project plan.

Priority Industry

Priority industry sectors exist both state-wide and regionally.

• Advanced manufacturing
• Alternative fuels
• Aviation
• Biotechnology
• Creative industries
• Environmental and mining technologies and services
• Information communication technology
• Marine
• Processed foods
• Therapeutic medicines and devices
• Tourism
• Wine

Eligible projects

A project may be considered transformational if it benefits both the business and Queensland through supporting innovation, increased productivity, export growth or the building of regional strengths. However, the project does not have to achieve all four objectives.

Projects that support innovation include those that:

• produce new intellectual property or new technology that will meet growing demand and/or create new markets
• apply research and development that has the potential to significantly improve the way the business operates or the products and services the business sells.

 Projects that support increased productivity include those that:

• put in place new processes that significantly increase productivity, setting a new standard for efficiency in the industry

•  make changes that promote major performance improvement across the business's supply chain, improving the competitiveness of a number of firms.

Projects that support export growth include those that:

• promote exports and create global supply chain opportunities in a new overseas market (which will benefit both the business and potentially the businesses which exist in the supply chain).

 Projects that build regional strengths include those that:

• promote a priority industry that is new or emerging in a region, or secure a substantial new competitive edge for a priority industry already existing in a region.

A project is not transformational if it only involves incremental capacity expansion, with no change in capability for the business.

Ineligibility

Your business is ineligible if:

• it is outside the priority industry sectors, or
• its primary focus is retail, wholesale, importing, accommodation, hospitality, property development, leasing or non-value adding primary production.

In addition, government departments and agencies, government owned corporations (GOCs), regional development organisations and research institutions are ineligible.

Your project is ineligible if it:

• falls outside the priority industry sectors
• contributes only to the routine operations of your business, such as systems improvement
• can be more appropriately funded by another program, or
• is primarily research and development.

Application rounds

Closing dates for 2009 are:

• Round 3   24 July 2009   
• Round 4   2 October 2009