The Victorian Government is investing $10m into primary producers through the Digital Agriculture Investment Scheme. Farmers and agribusinesses can now apply for funding to invest in on-farm digital technologies to improve productivity, resilience and long-term viability.

Grant funding can be used to invest in hardware, software, network connectivity and cloud based applications to:

• Improve animal and/or crop health
• Track key assets with smart devices
• Improve business efficiency with novel technologies and farm management platforms
• Purchase satellite imaging and GPS tracking solutions
• Increase on-farm connectivity; and more.

Grants from $5,000 to $50,000 are available on a 50% co-funded basis, with the Victorian Government offering up to half the cost of eligible projects.

Who is eligible?

‘To be eligible, businesses must register a turnover greater than $50,000 from primary production activities in an average year, with consideration made for drought, extreme weather, and COVID-19 related downturn. Businesses must also be registered for GST and be specifically focused on Primary Production.

Please note that off-farm food processors, packers, cold storage facilities, government agencies, not-for-profits and industry associations are not eligible for the fund at this time.

Key dates

Grant funds will be allocated through a competitive application process, with applications assessed by Rural Finance and Agriculture Victoria.

Applications will be accepted until 31 October 2021, or when the funding allocation is exhausted. Given the competitive nature of the scheme we recommend applying well in advance of this date.

The Government Grants landscape is highly complex and competitive, with most programs being heavily over-subscribed.

How can SW help?

SW’s team of Agribusiness and Government Incentives professionals can assess your eligibility to the Digital Agriculture Investment Scheme and improve your chances of submitting a successful application.

Contacts

Get in touch with our team below to find out how you can access this opportunity!

Sam Morris

E smorris@sw-au.com

Steven Edmonds

E sedmonds@sw-au.com

Tom Mullarkey

E tmullarkey@sw-au.com

The post Grant alert – Digital Agriculture Investment Scheme appeared first on SW Accountants & Advisors.

The change will fundamentally alter how applications are made and managed, impacting every business that is currently accessing the scheme.

Key changes include:

• Transitioning to an up-front agreement model, with funding agreed in advance
• Introduction of funding ‘tiers’ for businesses at different stages of their export journey
• Life-time cap of $770,000 grant funds receivable per business through the EMDG program
• Reduction in the turnover cap for eligibility – Businesses must have a turnover of less than $20M to access the fund

What is the impact of this change?

Businesses that are currently accessing the EMDG scheme, or are looking to execute their export strategy in the coming years should be acting now to assess their eligibility for this revised EMDG program.

Prior to submitting an EMDG grant application for planned promotional expenditure, businesses will need to self-assess their eligibility to the updated program and determine which funding tier they should be applying to. Tiers include:

Tier 1: for eligible SMEs who are ready to begin exporting – grants of up to $40,000 per financial year for 2 years

Tier 2: for eligible exporters who plan to expand their exporting – grants of up to $80,000 per financial year for 3 years

Tier 3: for eligible exporters who plan to make a strategic shift in their export activities – grants of up to $150,000 per financial year for 3 years

Key dates

Eligible expenses incurred up to 30 June 2021 will be claimable under the existing scheme, with applications open from 1 July 2021 through to 30 November 2021.

Applications for ‘forward looking’ EMDG grants for the 2021-2022 year must be made between 16 August 2021 and 30 November 2021.

How can SW assist?

Applications for the revised EMDG scheme will initially run alongside the existing EMDG program, increasing the complexity for applicants once the program opens for applications.

The EMDG process is highly complex and rigorous, and never more so than this year! SW’s team of Government Incentives experts can assist you in determining your eligibility, produce high-quality funding applications and maximise your chance of funding success.

Get in touch

To learn more and find out how you can seize the opportunity, contact one of our experts below.

Sam Morris

E smorris@sw-au.com

Thomas Demel

E tdemel@sw-au.com

The post Grant alert – Export Market Development Grant appeared first on SW Accountants & Advisors.