AUSTRADE BUSINESS EVENTS
GRANT FUNDING OPPORTUNITY
MINEX ROADSHOW 2021 Approved Business Event
The Minex Roadhsow 2021 has been approved on the list of Schedule of Approved Business Events in the Austrade Business Events Grant Funding Program.
Business Events Grant Opportunity For Exhibitors & Sponsors at Approved Events
The Business Events Grant program aims to support the event industry including the tourism sector to fund Australian businesses to participate as buyers or sellers at pre-approved business events including exhibitions, conferences and conventions from 1 January 2021 to 31 December 2021. It aims to ease the financial pressure for business event organisers and to incentivise Australian business to participate as buyers/sellers at pre-approved events.
Funding is to support the sustainability of events in government priority areas and to cover the cancellation costs that may occur to planned events due to COVID-19 outbreaks.
The objective of the program is to:
support delegates that are buying or selling to participate in ‘business events’. Business events includes exhibitions, conferences, and conventions
promote Australian businesses, including to a domestic audience.
The focus of the program is to support the promotion of Australian business capability, including to a domestic audience, bolster supply chain resilience, enhance industry match making opportunities and Australian product and service value add. Events will need to have a trade element that brings together buyers and sellers.
About the grant program
The Business Events Grant program (the ‘program’) provides Australian business matched funding, of between $10,000 to $250,000, to meet eligible costs to support their participation as buyers or sellers at pre-approved business events (exhibitions, conferences and conventions) from 1 January 2021 to 31 December 2021.
The program was announced as part of the COVID-19 Relief and Recovery Fund (‘the fund’). The fund offers immediate, specific and targeted responses to support the recovery and resilience of regional sectors in distress due to COVID-19. It aims to ease the financial pressure for business event organisers and to incentivise Australian business to participate as buyers/sellers at pre-approved events. Funding to support the sustainability of events in government priority areas and cover the cancellation costs that may occur to planned events due to COVID-19 outbreaks is part of the grant program.
Grant amount and grant period
The Australian Government has announced a total of $50 million in 2020-21 for the program.
The grant amount will be up to 50 per cent of eligible project expenditure (grant percentage).
The minimum grant amount is $10,000.
The maximum grant amount is $250,000.
You can apply for multiple events per application or submit multiple applications for events on the Schedule of Approved Business Events.
You can only receive up to a maximum of $250,000 per entity.
You are responsible for the remaining 50 per cent of eligible project expenditure.
Contributions to your project must be cash.
You cannot use funding from other Commonwealth, State, Territory or local government grants to fund the balance of project expenditure not covered by the grant.
Case Study Example of How Grant Funding Works:
A manufacturing company intends to send 4 sales staff to a 4 day B2B mining conference and exhibition listed on the Schedule of Approved Business Events. The company is looking to diversify into new domestic markets and the staff will be connecting with key domestic buyers at the event.
The total project costs are $25,000, which includes:
Delegate/Exhibitor registration for 4 delegates $4,000
Airfares and accommodation for 4 delegates* $7,000
Event sponsorship as the official hydration station and reusable water bottle sponsor $8,000
Branded water bottles for hydration station $2,000
Freight costs for merchandise and sales-collateral $400
Accountant costs for reconciliation of event costs and submission of post event report $2,000
Delegate per diem x 4 $1,600
On assessment of the application, it is found:
All 4 delegate registration, flight and accommodation costs* are eligible as a maximum of 4 delegate registrations can be claimed if you are a nominated buyer and seller participating in an event.
Only up to $10,000 in sponsorship costs can be matched dollar for dollar under the program. As $8,000 x 50% = $4,000 the whole sponsorship amount claimed is eligible.
The cost of branded water bottles is eligible as directly related to advertising, promotion and merchandise and relates to exhibiting at the event.
Freight costs to venue for merchandise and sales-collateral is eligible.
Accountant costs for reconciliation of event costs and submission of post-event report is ineligible as this relates to general business expenses.
Delegate per diem is ineligible as it relates to general business expenses.
In this scenario, only the delegate flights* and expenditure directly relating to attending, sponsoring and exhibiting at the approved event is eligible. General business costs are ineligible.
$21,400 would be eligible project costs. The company would receive a grant of $10,700 to cover 50% of their eligible costs.
THE FUNDING IS APPLIED FOR BY THE EXHIBITOR OR DELEGATE ATTENDING, DIRECTLY TO THE DEPARTMENT OF BUSINESS AND INDUSTRY. PLEASE REFER TO THEIR WEBSITE FOR MORE DETAILS AND TO SUBMIT YOUR APPLICATION.