Insights Lab

Industry Growth Program Update

The Industry Growth Program (IGP) has quickly become one of Australia’s most in-demand innovation support initiatives. Since its launch in 2023, the program has awarded 96 grants totalling $143million to a range of SMEs — representing the allocation of just over 50% of the original funding pool.

This ‘halfway point’ provides a perfect moment to reflect on the outcomes and distribution of IGP grant funds to date. We’ve reviewed the available data and provided a detailed summary. The analysis highlights the urgency needed for any SMEs that are interested in the program but yet to apply, particularly given that grants can’t be accessed until an initial business advisory process is completed.

The Queensland Government has launched the $180.6 million Sovereign Industry Development Fund (SIDF) to strengthen the state’s capacity to manufacture, supply and sustain key goods and services locally. The program supports strategic and catalytic projects in defence, biomedical and biofuels sectors to boost innovation, jobs and regional growth. To learn more read the full article here.

The Australian Government Department of Industry, Science and Resources (DISR) has released a series of six Issues Papers written by the independent Strategic Examination of Research and Development (SERD) panel and follow analysis of a published discussion paper and public submissions feedback on how to maximise the value of existing investment in R&D, strengthen linkages between research and industry, support the achievement of national priorities, drive greater R&D investment by industry and boost innovation, and uplifting Australia’s overall R&D intensity.

Summary of the previous quarter of developments in the world of the R&D Tax Incentive (R&DTI) program.

The R&D Tax Incentive is projected to reach $4.6B in public funding in 2026, and 86% of claimants rely on advisors to access it. That means our industry collectively helps steward almost $4B in taxpayer-funded innovation support each year. With that responsibility comes the need for practices that build confidence in the system, including clear and transparent fee models that align with the intent of the program.

The Australian Government has released the 2026 National Research Infrastructure Roadmap Issues Paper, setting priorities that will shape research investment over the next decade. This process will directly influence future MRFF and NHMRC infrastructure funding, with a strong focus on translation, digital capability, sovereign manufacturing and the research workforce.

The State Government’s Transforming Queensland Manufacturing Strategy 2025–30 was recently announced and sets out a five-year roadmap to drive innovation, investment, and regional growth. We’ve summarised the key announcements and what it means for Queensland manufacturers of all sizes.

Australia’s manufacturing sector has a proud history, quietly over-achieving in terms of R&D investment and innovation activity over many years.

In our latest analysis, we deep-dive into recent data from ABS reports and government programs to provide a snapshot on where Australia’s manufacturing sector currently stands in the face of emerging local and global challenges.

A significantly updated version of the R&D Tax Incentive (R&DTI) application form was officially released on 15 August 2025. The new form is now available (and is mandatory) when you are seeking to register your R&D activities via the R&DTI portal for FY25 and beyond.