New initiative to support taking local innovation global

The federal government has announced new funding through the Small and Medium Enterprises (SME) Export Hubs Initiative to support the establishment of local and regional hubs to assist Australian businesses take their products and services to the global market.

The export hub grant opportunity will provide funding to develop local, regional and Indigenous brands through export hub business collaborations in the priority Industry Growth Centre sectors.

Organisations operating in or servicing Australia’s energy resources sector are encouraged to apply. Applicants can include SMEs, innovators, public sector agencies and development bodies connected with the energy resources supply chain.

The minimum available grant amount is $150,000 while the maximum is $1.5 million.

The export hub initiative will also support businesses operating in other sectors including advanced manufacturing, cybersecurity, food and agribusiness, medical technologies and pharmaceuticals, and mining equipment, technology and services.

What is an export hub?

• A hub includes a group of businesses and other organisations that are usually based in a specific geographical region or working in a common field.
• Export hubs are business-to-business networks that help members harness opportunities in global marketplaces.
• Export hubs increase information and resource sharing between businesses and help them access global supply chains.
• Export hubs drive engagement between local businesses by developing collective brands and leveraging local common infrastructure.
• Export hubs provide professional, strategic and coordination support for groups of small businesses to increase exports.
   

What will the export hubs do?

Export hubs will increase information and resource sharing in order to help members break down the barriers they face when they start exporting. They will:

• deliver improved capability to increase exports, encourage growth and create jobs
• develop and implement export strategies to build on competitive strengths and innovation potential, aligned with the national strategies of the Industry Growth Centres
• help small businesses access primary buyers and supply chains through export networking and supply chain events
• highlight international market opportunities and identify opportunities for firms in different sectors to work together
• support skills development through training and seminars.
   

To find out more about the Hubs and how to apply, click here.

Image: ©stock.adobe.com/au/bas121