Positioning Your Business for Grant Funding Success
Securing the right funding can be the difference between a promising idea and a fully delivered project. Alongside capital raises, non‑dilutive funding - funding that supports your growth without giving up equity - can significantly accelerate R&D, commercialisation, and manufacturing.
From competitive grants and tax incentives like the R&D Tax Incentive (R&DTI) and Digital Games Tax Offset, to targeted loan facilities from bodies such as the National Reconstruction Fund Corporation (NRFC), Northern Australia Infrastructure Facility (NAIF), and the Australian Renewable Energy Agency (ARENA), these programs can stretch every dollar of investment further.
At Intellect Labs, we often meet businesses with exciting projects but no clear plan for accessing funding. They know grants exist, yet the process feels overwhelming and they don’t have a good grasp on:
What programs are aligned with what they are doing, and
How to go about getting grant monies from a very competitive process.
This confusion is compounded by a constantly shifting landscape where the availability of grants changes, and programs open and close quickly. Without a clear strategy, businesses often miss opportunities or waste time on applications that were never a good fit.
A strong grant strategy is forward‑looking, built around your long‑term project plans rather than chasing whatever grant happens to be open. Projects designed purely to secure a grant are rarely as competitive as genuine, well‑developed initiatives. Just like capital raising, the government should be seen as an investor in your innovation, not a customer to satisfy.
How To Look at Grants Strategically
When we talk about non‑dilutive funding strategy, we focus on four core pillars that underpin a successful approach to grants and significantly increase your chance of success.
1. Structure
Considering and understanding how your business is structured is often the first step, as many programs have strict eligibility requirements.
For example, some programs require the applicant to be a company and don’t accept applications from trusts. Some grants require a minimum trading history, often 2-3 years, or request historical financials.
Because of these requirements, non‑dilutive funding should be considered as part of your broader capital and structuring strategy, not as an afterthought. To be prepared for these requirements, we encourage businesses to treat non-dilutive funding as a component of any capital strategy from the start. Map out when you are likely to apply for grants along your growth journey and ensure your structure will support eligibility when opportunities arise.
2. Preparation
Successful grant applications are rarely conceived and prepared the day before they’re due.
Grant administrators usually take time to process, review, and distribute to successful applicants. Thus, it is important to ensure that the grant aligns with where your business will be in six to twelve months. This is another example of the importance of selecting a grant for a project, rather than designing a project for the grant.
The good news is that there are things you can do before a program opens to ensure that you are properly prepared. Effective preparation can include:
Documenting your project’s objectives and intended outcomes.
Developing a clear project plan and timeline.
Preparing budgets, forecasts, and ROI calculations.
Identifying broader market and competitive benefits early.
Having these things in place will give you an in depth understanding of where you want to go that will help you to design and develop a competitive grant application when the window arises. Most programs will require supporting documentation such as project plans and budgets, so having them ready is a key advantage.
3. Monitoring
Once you have a clear understanding of your project pipeline, the next step is identifying a program that is a good fit. Many businesses rely on word‑of‑mouth, or chance, to hear about opportunities. By the time they find out, the window has closed, or the application is rushed and incomplete.
There are several online resources that can be used to monitor the grant landscape for opportunities. Many government grant programs have a dedicated mailing list that you can register for email updates on grant openings, changes, and timelines. Engaging with relevant industry bodies (e.g. MTP Connect, Life Sciences Queensland, XR Hub) and government departments, or following their LinkedIn pages can also provide you with great insight into available grant opportunities.
Having access to what’s out there also allows you to be more selective with your efforts. Grant applications can be resource‑intensive, so focus on programs that align with your strategy and capacity to deliver.
4. Collaboration
Many high‑value grants require collaboration with other organisations such as universities, research institutions, or SMEs. The right partner can make your application stronger—and your project more likely to succeed once funded.
Map your ecosystem in advance and build relationships with potential collaborators. Express your interest in working together before a grant opens, as some programs offer only a 4–6 week submission window. Early engagement gives you a head start in preparing a compelling, collaborative proposal.
Whether you are just starting your grant journey or wondering why past applications haven’t landed, consider taking a structured, forward‑looking approach to grant strategy, or reach out for support in matching your project to the right opportunities.