Believe it or not, the Australian Government is serious about exporting innovation to the world.
They are putting their money where their mouth is through the Export Market Development Grant (EMDG), where you can recover 50% of your eligible expenses.
How good is that!
In fact, this grant has been around for years, but traditionally targeted exporters of Australian goods and produce. Few people realise that innovation (or intellectual property) can be exported, which is where EMDG comes in. For small and medium business owners, it also provides an incentive to expand their target market beyond the Aussie shores, which is becoming easier by the day thanks to technology.
We’ve taken the time to list out a few of the expenses that can be claimed under the EMDG.
Intellectual Property Registration
The cost of registering intellectual property is high. In particular for a solo inventors, SMEs and startups, it’s a cost that you think twice about before proceeding with.
When you register any intellectual property overseas, or make an international patent application (PCT), Austrade will cover 50% of the costs through the EMDG.
These include your IP Attorney costs, application costs and even insurance related to your IP registration!
Trade shows and travel
The EMDG also covers fees to exhibit at tradeshows overseas.
Trade shows are extremely effective for targeting the right audience: retail buyers, manufacturers, executive decision makers…the list goes on!
The grant can help to reduce the costs of transporting your exhibition material, airfares, accommodation and also expenses for meals and transport. Better yet, if you have free samples to hand out, they will be covered too!
Website, Advertising, Marketing Expenses & Overseas Representation
We were amazed to find this out for ourselves, and this is why the EMDG is our favourite Australian Grant for innovative businesses and creators big and small.
The cost of developing a website, Facebook Ads, Google Adwords and print ads, as well as hiring a product marketing consultant (such as Innovateur!) are all covered by EMDG.
If you also need a to hire overseas representatives to push your product on the ground, their fees will be halved thanks to the grant.
For all expenses you wish to claim, the main condition is that your total eligible expenses need to exceed $15,000 for the year (for your first application, you can include expenses from the past 2 years), and the product needs to bring an economic benefit to Australia.
If you’d like to find out more, please contact us.
Innovateur is a registered EMDG consultant and can assist you with your grant application.
P.S, many of our services fall within the EMDG eligible expense category!
Innovateur is a commercialisation consultant and product development and marketing firm. We’ve designed our services to be covered by the EMDG and we’re also EMDG consultants, meaning that we can apply for the grant for you! Contact Innovateur at email@example.com to find out more.