Looking for business grants in Victoria to support innovation and growth? Whether you’re in advanced technology, clean energy, agri-innovation, infrastructure or critical minerals, there are multiple government grants available.
Business funding isn’t just about covering operating costs. It’s an opportunity for scale, reducing risk, forming strategic partnerships, and validating your business model.
In this article, we explore the top Victorian business grants available right now for innovative companies across key sectors.
The Industry Growth Program helps innovative Australian small-to-medium enterprises (SMEs) grow by providing advice and funding for commercialisation and expansion, focusing on priority areas of the National Reconstruction Fund.
Australian SMEs who:
Businesses must be incorporated in Australia, a co-operative, or an incorporated trustee on behalf of a trust. Projects should involve the commercialisation or growth of an innovative manufacturing product, process, or service aligned with National Reconstruction Fund (NRF) priority areas.
Grants of between $50,000 to $250,000 are available to support early-stage commercialisation projects.
Grants of between $100,000 to $5 million are available for commercialisation and growth projects.
The Industry Growth Program supports feasibility studies, prototyping, market testing, IP commercialisation, and scaling production capabilities.
An Industry Growth Program Adviser will collaborate with you to develop tailored recommendations and a practical plan to support your business’s commercialisation and growth.
This personalised advice may cover:
At the end of the engagement, your Adviser will deliver a report outlining key priorities and recommended actions to help you pursue identified commercialisation and growth opportunities.
Applications for this program are always open.
The Victorian Business Growth Fund helps Victorian SMEs grow their business. Created through a partnership between the Victorian Government and First State Super, the Fund is designed to support SMEs poised for growth but face challenges in securing funding or finding suitable strategic partners.
Supporting businesses with strong potential for long-term expansion, especially those struggling to access capital, has become even more vital in helping to rebuild and grow the economy following the disruptions caused by the COVID-19 pandemic.
The Fund will focus on creating and sustaining permanent, high-skill roles in key economic sectors. It will prioritise employment that enhances workforce diversity, supports individuals who are unemployed or face barriers to employment, and assists people undergoing reskilling or entering apprenticeships.
Victorian SMEs seeking long-term growth opportunities, with annual revenue of between $5 million and $100 million. The fund provides capital to scale operations and drive job creation.
To be considered for the Fund, businesses must:
Rather than providing a grant, the fund takes an equity; specific amounts vary based on business needs.
The Victorian Business Growth Fund provides strategic insights, expertise, and commercial experience to accelerate growth outcomes.
Applications are accepted at any time.
The inaugural Breakthrough Victoria Challenge promotes new technologies and scientific innovations to address the growing volume of solar photovoltaic (solar PV) waste.
Innovative companies developing scalable solutions, particularly in clean technology sectors.
The Breakthrough Victoria Challenge wants to know how Victoria should be tackling the issue of ever-increasing solar PV waste.
Breakthrough Victoria is looking to back companies with:
The challenge focuses on technologies that efficiently retrieve valuable components from end-of-life solar panels, such as silicon and silver.
Breakthrough Victoria backs businesses across every stage, from early concept through to scale-up, with investments of up to $10 million. They invest through equity, like a venture capital firm. They do not provide grants nor venture debt but make direct equity investments and offer convertible notes.
Whether you’re refining a new idea or leading a high-growth startup seeking capital, they are ready to help move your business forward.
Supports the development of high-value products from end-of-life solar panels, aiming to reduce landfill and increase material recovery.
Applications are open and ongoing.
The Victorian Production Fund – Games from VicScreen supports creatives to develop and release digital games throughout all production phases, for PC, consoles, mobile, virtual reality (VR), augmented reality (AR) or extended reality (XR).
Victorian digital games development companies and creators.
Applicants must be based in Victoria and involved in developing digital games across various platforms.
Up to $300,000 per stage and up to $500,000 per project is available.
Supports the development and release of digital games, fostering industry growth and enhancing Victoria’s reputation in the gaming sector.
Applications are now open.
The Community Development Fund from the Department of Energy, Environment and Climate Action (DEECA) supports the development of new industries and opportunities for Local Development Strategy programs in Victorian communities.
Communities with a Local Development Strategy under the Victorian Forestry Plan.
There are two funding streams available.
This stream supports project management activities and initiatives to build community and business capability.
Available funding
Eligible activities
Activities generally not funded
This stream funds projects that support diversification opportunities identified in the Local Development Strategy.
Available funding
Eligible activities
Up to $2 million per eligible community, with a total of $22 million available.
Funds early-stage innovation and diversification opportunities to support economic transition and new industry development.
Open until 30 June 2026.
The Frontier Health and Medical Research Grant offers funding to support medical research and medical innovation programs which deliver ambitious, exploratory and ground-breaking treatment for a currently serious and incurable health condition.
Researchers and organisations developing novel health technologies or repurposing existing ones in innovative ways.
The funding process involves two steps:
Only invited applicants can submit a full application. Projects can begin at any point in the research pipeline, starting from proof-of-concept, with the goal of fully implementing the technology within a decade.
Further funding for follow-on projects that advance the technology towards full implementation can be requested by lodging additional full applications, without the need to submit another EOI. These subsequent applications are also by invitation only.
Projects should aim to develop new products and interventions and implement these into clinical practice.
Up to $25 million per program of research.
Supports big ideas in health and medical research, facilitating the translation of research into clinical practice.
The program expects expressions of interest will close on 31st March 2026.
Securing the right funding can make a world of difference to Victorian businesses looking to innovate, grow, or scale into new markets. Grants and funding available in Victoria offer real opportunities to reduce risk and accelerate progress.
Sometimes knowing where to start can be half the battle. Book a FREE consultation today with FundFindrs to assess your company’s eligibility and build a solid grant strategy.
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