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| New Industries Development Program |
| New Industries Development Program (NIDP) helps people in the agricultural, processed food, fisheries and forestry industries turn innovative business ideas into competitive, profitable and sustainable commercial ventures. NIDP encourages and supports Australian agribusinesses as they commercialise new market-driven products, services and technologies. |
| One of the principle activities of the New Industries Development Program (NIDP) is to provide competitive-based funding assistance for agribusiness. Grants are given to Pilot Commercialisation Projects (PCPs) in the agricultural, processed food, fisheries and forestry industries. |
| PCPs need to be innovative, market driven and sustainable and aim to commercialise new* products, varieties, technologies or services. This can be achieved by using currently ignored by-products, or changing the form, presentation and delivery of traditional products. |
| In the process PCP grants assist eligible Australian agribusinesses to incubate innovative, niche agribusiness ventures. These encourage through-chain approaches and involve at least one partner that is a small to medium agribusiness enterprise. |
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For the purposes of NIDP ‘new’ means that ‘no significant capacity currently exists in Australia for the specified product, service or technology—that is, it generates less than $1 million total sales per annum from all Australian sources’.
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| To be considered, applicants need to demonstrate first and foremost the proposed projects potential for market success. As such, the initial market assessment and R&D stage (e.g. laboratory or trial crop stage) of the project should have already been completed. Funding for PCP projects is provided on a matched dollar for dollar basis with the applicant, to a NIDP contribution of $30,000 to $100,000 (net of GST). |
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