Tasmanian Government Innovation and Investment Fund

Round 3 guidelines

The Tasmanian Government Innovation and Investment Fund (TGIIF) forms part of the Tasmanian Government’s response to regional employment challenges. The grant program is aligned with Tasmania’s Economic Development Plan, specifically its focus on making the most of Tasmania's competitive advantages in priority sectors.

Objective

TGIIF aims to primarily create jobs in Tasmania by offering grants to assist businesses(or groups of eligible businesses) invest in innovative projects that will significantly improve their sustainability, performance, growth and productivity. This will generate new investment and create sustainable high-quality, skilled jobs that help diversify and strengthen Tasmania’s regional economies.

Program timetable

TGIIF rounds 1 and 2 have been completed, and a list of successful applicants from both rounds is available on the department’s website at

Round 3:

Open:Monday, 7 October 2013

Close:5:00 pm Friday, 1 November 2013

Applicants advised:mid-December 2013

What funding is available?

Around $1.5million will be distributed through TGIIF in round 3.

This program provides one-off grants of up to $250 000 per project to eligible applicants who have a project that will primarily create jobs in Tasmania.

Applicants will be expected to contribute (and demonstrate their commitment to do so) a minimum cash commitment, exclusive of in-kind that at least matches the total amount of funding sought for the project.

Contact details

Business Tasmania

Phone: 1800 440 026

Email:

Applicant eligibility

Applicants should note that eligibility does not automatically mean a project application will be funded.

Eligible applicants must:

  • create and/or retain jobs. One job is equivalent to one full-time equivalent (FTE). An FTE is based on an average of 1800 hours over a 48 week period.
  • have an Australian Business Number (ABN)
  • be registered for goods and services tax (GST)
  • demonstrate that the business is financially sustainable
  • demonstrate their goods or services are produced in Tasmania or that a significant level of value-adding to products or services occurs in Tasmania
  • have the capacity to fund their contribution toward the project
  • be a sole trader, partnership, company, trust or association at the time of the application and maintain the entity for the agreed period of assistance
  • be physically located in Tasmania.

Applications will not be accepted from:

  • applicants who have outstanding obligations (has not complied with program conditions) to the department from a previous departmental program
  • local government, state government and Australian government entities, including government business enterprises
  • not-for-profit organisations, unless trading or financial activities are a substantial part of the organisation’s activities
  • unincorporated associations
  • industry organisations
  • organisations where the primary focus is retail, wholesale, importing, property development, leasing or non-value-adding primary production
  • professional service providers
  • new or start-up businesses. Applications will be accepted from existing businesses that intend to progress new developments (spin offs).

Project ineligibility

Applications will not be accepted if the project:

  • seeks funds for employee wages and salaries, product prototype research and development, media advertising and promotional activities or campaigns
  • primarily focuses on planning, for example business, marketing, workforce and financial planning
  • only contributes to routine operations of the business
  • primarily focuses on research and development
  • commenced prior to the submission of the application
  • has already received state, Australian or local government funding
  • could be funded more appropriately by another government program
  • cannot be completed by 30 April 2015.

Preference

Preference will be given to projects from businesses that are part of the following priority sectors as identified in the Economic Development Planand Regional Economic Development Plans, and who demonstrate a strategic economic benefit to Tasmania:

  • energy (including renewable energy)
  • food and agriculture
  • forestry and related products
  • international education
  • mining and mineral processing
  • research and science (including Antarctic)
  • advancedmanufacturing
  • tourism.

Preference will also be given to projects that:

  • create and/or retain jobs in Tasmania
  • provide employment for unemployed Tasmanians
  • benefit regional communities
  • stimulate private investment, generate increased revenue and exports, or replace imports
  • improve business efficiency and sustainability
  • are innovative
  • offer a greater ratio of business investment to government investment
  • have not received financial support from the Tasmanian Government, Australian Government or Local Government.

Assessment

Applications will be assessed on the basis of competitive merit against the established assessment criteria contained within these guidelines.

In exceptional circumstances the department may, at its discretion, assess separately from other applications and approve at any time projects that are critical and time-sensitive, and that meet the assessment criteria to a very high level.

The department retains the right to approve/not approve funding at its discretion.

Assessment criteria

Applicants that have met the program’s eligibility criteria will be assessed on their ability to demonstrate:

  1. net economic benefit to region/Tasmania
  2. organisational capacity to undertake the projectand achieve stated outcomes (including project planning)
  3. the applicant has the capacity to fund its share of project costs
  4. project benefits to the applicant.

Application process

Step 1:Determine eligibility

Please read these guidelines carefully as they will help determine your eligibility for assistance. Guidelines can be downloaded from the department’s website: A hard copy can be obtained from the department through Business Tasmania on 1800440026 or .

If you require clarification on the guidelines or your eligibility, please contact Business Tasmania and you will be directed to an appropriate departmental officer.

Step 2:Discuss your application with the department

If you consider your application eligible, you may choose to contact the department to arrange a discussion with a departmental officer. Please contact Business Tasmania on 1800 440 026 to make an appointment.

In this discussion the departmental officer will work with you to identify business needs, make a preliminary assessment of eligibility, determine the suitability of TGIIF to your project, and in this process may suggest an alternative form of financial assistance offered by the Tasmanian or Australian Government.

Should the departmental officer consider your project eligible for TGIIF, they may guide you through the process and in the completion of your application. Departmental officers are not permitted to write the application on your behalf.

Step 3:Submit application

Applications are to be submitted by 5:00 pm on Friday, 1 November 2013 to:

Business Tasmania
PO Box 1186
Launceston TAS 7250

Or

The department encourages applicants to submit applications via email and to retain a copy for their own information.

Applicants are required to read and agree to the terms and conditions of the program that are outlined in these guidelines (see below) and in the application form.

The completed application remains the property of the department. The department has the right to reproduce parts of your documentation for the purposes of program publicity and evaluation. All applicant details will be held in confidence and managed in accordance with the Personal Information Act 2004. For further information, please refer to the terms and conditions section of these guidelines.

Applications received after 5:00 pm on Friday, 1 November 2013 will not be accepted.

Step 4:Assessment

Applications will be competitively assessed against the assessment criteria contained within these guidelines. As a result, eligibility will not automatically mean an application will be funded.

Applicants should note that in assessing the strengths and weaknesses of a proposed project or application, the department may seek additional information from:

  • Australian government agencies
  • state or territory government agencies
  • local governments
  • any other appropriate agencies or persons that the department considers necessary to assess an application.

Failure to complete all relevant sections of the application form may result in the application not being able to be fully assessed or approved due to insufficient information.

Step 5:Notification

It is anticipated that you will be notified of your application’s outcome in mid-December 2013. The department retains flexibility on a notification date as this will be influenced by the number of applications received.

Should your application be unsuccessful, you will receive a letter from the department and you will also have the opportunity to discuss this decision with an officer of the department.

Terms and conditions

If you are successful, you will be required to enter into a grant deed with the department for the grant. To accept the offer, the grant deed must be signed in accordance with the applicant’s legal signing authority and returned to the department.

The terms and conditions outlined below provide an indication of the requirements that will be set out within the grant deed.

Any legal costs incurred in the preparation of the grant deed must be borne by the applicant.

  1. General
  2. To use the grant only for the approved project.
  3. Complete the project within the agreed period (ending 30 April 2015).
  4. Grant funds will only be available for the agreed period (ending 30 April 2015).
  5. Undertake the project with the degree of professional skill, care and diligence that is expected of a professional body undertaking the project.
  6. Maintain proper books and records showing the use and expenditure of the grant.
  7. All information provided to the department under the terms of the grant deed is to be in a form acceptable to the department.
  8. Acceptance of the grant does not commit the department or Tasmanian Government to any future financial assistance.
  1. Payment of grant

Payments will be made based on proof of approved eligible expenditure. Payments will be made when accompanied by all necessary documentation together with a tax invoice made out to the Department of Economic Development, Tourism and the Arts.

Program grants attract a liability on the recipient to pay Goods and Services Tax (GST) and the department will increase the grant payments to compensate for the level of that tax.

Applicants are advised that grant funding may have taxation implications and that they should seek independent taxation and financial advice from a suitably qualified professional prior to submitting their application.

Payments will be paid via Electronic Funds Transfer.

2.1Initial payment

Generally up to 50 per cent of the grant will be paid up-front following receipt by the department of a satisfactorily signed grant deed and a valid tax invoice. Where an applicant is required to meet a conditions precedent, the initial payment will be made only upon the completion of the condition.

2.2Final payment

The balance of the grant will be paid upon:

  • completion of the project in accordance with the grant deed
  • receipt of a final project report
  • receipt of valid tax invoice.

The initial and final payments will be made when all necessary documentation is provided to the department’s satisfaction.

Repayment of grant

Repayment of the grant may be required if the department is not satisfied that the applicant has done all that is reasonable to meet the obligations under the grant.

Applicants may be required to repay the grant in full or part thereof if the applicant:

  • fails to apply the grant for the project
  • provides incorrect or misleading information, fails to perform or observe any of its obligations under the grant deed or fails to comply with the terms of the grant deed
  • fails to comply with all legislative requirements in undertaking the project
  • changes its shareholding, beneficial ownership of its business, within the agreed period, without the prior written consent of the grantor, with such approval not being unreasonably withheld.
  1. Monitoring and evaluation
  2. Final Project report

Successful applicants will be required to complete a final project report. The report will require successful applicants to provide:

  • proof of eligible expenditure and proof of payment
  • outcomes of the project
  • details on number of employees, financial position and performance, sales turnover and capital investment.

A report template, including an acquittal section will be provided by the department.

Additional progress updates and reports may be requested by the department at any stage during the agreed period. These reports are to be provided to the department within 14 business days of the request.

3.2Post project completion report

Successful applicants will be required to complete additional reports for up to a two year period post the completion of the project. These reports will focus on the benefits the businesses has received from the grant and the outcomes the project.

3.3Project review/evaluation

The program may be reviewed at regular intervals. As a result, the program may undergo some changes.

An evaluation of the program’s processes and outcomes will be undertaken following the full expenditure of funds. To assist the department, you may be required to participate in any phone, mail or email survey that it undertakes.

  1. Audit

To further ensure that funding has been used for the purpose for which it was granted, the department may conduct random audits.

In addition the Auditor-General for Tasmania or his nominee may request access to all financial statements and records about the use and expenditure of the grant. A reasonable level of written notice will be given.

  1. Publicity of grant assistance

Unlike private sector financial organisations, the department disburses public funds and is therefore accountable for the distribution of those funds. As part of the accountability process, the department may publicise the level of its financial assistance.

  1. Right to Information (RTI)

You should be aware that any information you provide to the department, and details of any financial assistance package you receive, may be subject to disclosure under the Right to Information Act 2009.

  1. Personal Information Protection (PIP)

Personal information will be collected from you for the purpose of undertaking the department’s activities. Your personal information will be used for the primary purpose for which it is collected and may be used for other purposes permitted by the Tasmanian Development Act 1983 and may be disclosed to contractors and agents of the department or affiliated bodies, and other organisations authorised to collect it.

Personal information may be disclosed to other public sector bodies where necessary for the efficient storage and use of the information.

Personal information will be managed in accordance with the Personal Information Protection Act 2004 and may be accessed by the individual to whom it relates on request to the department’s Personal Information Protection Officer on (03) 6233 5888. You may be charged a fee for this service.

Disclaimer

Although care has been taken in the preparation and assembly of the guidelines and application form, no warranty, express or implied, is given by the department as to the accuracy or completeness of the information it contains.

No responsibility is accepted by the department for any loss or damage which may arise from anything contained in or omitted from, or which may arise from the use of this document, and any person relying on this document and the information it contains, does so at their own risk absolutely.

The department does not accept liability or responsibility for costs incurred by the applicant, or anyone claiming through the applicant, which are in any way related to the application process or the provision of grant funds.