EMDG 2024 Archives - FundFindrs

EMDG Round 4: How Australian Businesses Can Secure Funding for Export Growth

With the Export Market Development Grant (EMDG) Round 4 opening date approaching, Australian businesses have a key opportunity to receive financial support for expanding internationally. Recent changes to the program however, have introduced new criteria and a more competitive application process.

 

In this guide, we’ll walk through essential steps and strategies to help strengthen your EMDG application, giving your business the best possible chance to secure funding.

 

This article will help you discover:

 

What is EMDG?

The Export Market Development Grant (EMDG) is a government initiative designed to help Australian businesses grow by supporting the costs associated with marketing their products and services to international markets. The grants provide funding to help offset these expenses, making it easier for businesses to expand globally.

 

What’s changed?

EMDG Round 4 introduces some significant changes:

  • Larger grants are now available, making the potential impact even greater, but for less businesses.
  • New eligibility criteria have been introduced, focusing on businesses with a higher likelihood of export success.
  • Applications will be assessed first-come, first-served, increasing the need for early preparation.
  • Increased focus on diversification encourages businesses to target new markets and expand their global reach​.

 

Program objectives

The EMDG program aims to help Australian small and medium-sized enterprises (SMEs) and representative bodies promote their products and services in global markets.

 

The primary objectives are to:

  • Encourage export growth: Assist Australian businesses in starting or expanding their international presence.
  • Support market diversification: Encourage businesses to enter new markets to reduce reliance on a single export region.
  • Increase export skills: Develop export-related marketing and promotional capabilities within businesses.

 

Understanding the EMDG tiers

In Round 4, the EMDG program is divided into three tiers, each designed for businesses at different stages of their export journey:

  • Tier 1 – Ready to export
    This tier supports businesses at the beginning of their export journey. To be eligible, businesses must complete recognised export training or pass Austrade’s Export Readiness Test.
  • Tier 2 – Expanding in existing markets
    For businesses already exporting, Tier 2 helps expand their efforts within existing international markets by offering funding for enhanced marketing and promotional activities.
  • Tier 3 – Expanding to new markets
    If your business is diversifying into new global markets, Tier 3 helps support the expansion through strategic promotional efforts if you are considering the following countries​:

 

EMDG Round 4 - List of Eligible Markets

 

  • Representative Bodies
    Representative bodies that support SMEs in export activities can also apply for funding. This tier focuses on organisations offering export training or launching promotional campaigns that benefit member businesses.

 

FundFindrs Tip: Selecting the correct tier is critical as businesses can only apply for one tier in round 4 of the EMDG program which runs from 1st July 2025 to 30th June 2027. Each tier has specific eligibility criteria and focuses on different stages of exporting. FundFindrs can assist you in selecting the right tier based on your business’s export status and growth goals.

 

EMDG Round 4 - List of changes

 

Eligible products and service

To qualify for the EMDG, your business must be promoting products or services that are substantially of Australian origin.

 

Eligible products and services include:

  • Goods: Manufactured or produced in Australia, either fully or with significant local transformation.
  • Services: Tourism services for international visitors or other services (outside of tourism) provided to foreign markets that have a significant portion of their value added in Australia.
  • Events: Trade shows or similar events held in Australia focused on promoting Australian products or services to international customers. For online events, they must be hosted by an Australian individual or business with a majority of attendees being international buyers.
  • Intellectual Property & Know-How: Intellectual property, including trademarks and patents developed in Australia, as well as technical know-how originating from Australian research or work.
  • Software: Software that is the result of substantial Australian-based development​.

FundFindrs Tip: If you’re unsure whether your products or services meet the criteria, our team can help you evaluate your eligibility and ensure your application is aligned with EMDG guidelines.

 

Craft a clear and strategic plan to market

Your plan to market is arguably the most critical part of your EMDG application. This is where you demonstrate exactly how you will use the grant to promote your business internationally considering marketing and promotional activities. Round 4 guidelines stipulate that your plan to market must be high-quality and specific to your business and the tier you are applying for.

 

To craft a compelling marketing plan, focus on the following:

  • Define your target markets: Identify the key international markets you plan to enter or expand into. Be specific about the market potential and why you’ve chosen these regions. Include market research and insights to back up your strategy.
  • Outline your promotional activities: Detail how you plan to use the grant funding. Will you be attending international trade shows, investing in digital marketing campaigns, or hiring local representatives? Clearly define your tactics, and ensure they are tailored to the markets you are targeting.
  • Demonstrate incremental investment: EMDG can not be used for business as usual activity. Your plan to market needs to demonstrate how you will use the funds to make incremental investment in marketing activities.
  • Set measurable goals: Explain what success looks like for your export activities. This could be increasing sales in a particular market by a certain percentage, growing brand awareness, or securing a set number of new clients. Be clear about your goals and how you will measure progress.
  • Show the ROI: Austrade wants to see that your marketing and promotional efforts will generate real business outcomes. Make sure your plan demonstrates how the activities will lead to tangible growth in international sales​ by providing a return on investment forecast.

FundFindrs Tip: Crafting a detailed marketing plan can be complex, but FundFindrs is here to help. Our expert team can guide you through developing a strong, strategic marketing plan that aligns with EMDG criteria and maximises your chances of success.

 

 

Prepare early: timing is everything

Applications for Round 4 will be assessed on a first-come, first-served basis, which means preparing early is essential. With demand expected to be high and no guarantee of funding for every business applying, starting your application as soon as possible can significantly improve your chances of securing funding.

 

Important Dates:

  • November 6, 2024: Applications open at 10am for representative bodies
  • November 12, 2024: Applications open at 10am for Tier 1, Tier 2, and Tier 3​

 

FundFindrs Tip: At FundFindrs, we specialise in helping businesses prepare early to avoid last-minute application rushes. Get in touch today for a FREE consultation to ensure your EMDG application is ready to submit on time.

 

Maximise your EMDG application

The EMDG program offers significant financial support for businesses looking to grow their international footprint. However, with the introduction of new eligibility criteria and a competitive, first-come, first-served process, preparation is critical.

 

At FundFindrs, we are dedicated to helping you navigate the complexities of the EMDG application process. Our expert team is ready to assist you every step of the way — from tier selection to crafting a winning market plan.

 

Get in touch with FundFindrs today, and let’s get your EMDG application ready to take or expand your business globally. If EMDG isn’t the right fit for your business, don’t worry — talk to us about other grants that might be available to help your business grow.

 

 

How to Maximise Grant Opportunities for Your Business

Seven Simple Steps to Securing Funding Through Grant Applications.

 

Navigating the world of grant applications can be challenging, particularly for small and medium-sized businesses that may feel overshadowed by larger competitors. However, securing grant funding can be a vital strategy for growth and innovation especially for companies in industries such as biotech, pharmacy, food and beverage, technology and manufacturing.

 

Grants not only provide financial resources but also help companies invest in research, innovation, expand their market reach, and enhance their operational capabilities.

 

In this guide, we’ll outline seven simple steps for applying for grants effectively and explain how FundFindrs can support you throughout the process.

 

Why Grants matter

You might be asking yourself, “Why are grants so important for my business?”

 

Grants act as a vital financial resource for companies, allowing them to fund projects that propel growth and improve competitiveness. Unlike loans, grants don’t need to be repaid, making them an attractive option for investing in areas like research and development or exporting initiatives. For example, a grant could provide the necessary capital to develop innovative products or services that meet emerging market demands.

 

By recognising and utilising these funding opportunities, businesses can not only enhance their operational capabilities but also position themselves for greater success in an increasingly competitive landscape.

 

To help you tap into these opportunities, we’ve outlined a step-by-step approach to navigating the grant application process.

 

  1. Step 1 | Research and identify suitable grants
  2. Step 2 | Gather essential documents
  3. Step 3 | Prepare financial statements
  4. Step 4 | Develop a comprehensive business plan
  5. Step 5 | Create a detailed project proposal
  6. Step 6 | Address eligibility criteria
  7. Step 7 | Craft a compelling narrative

 

Step 1 | Research and identify suitable grants

You can start by identifying grants that align with your business objectives. It involves understanding both your specific needs and the available funding options.

 

Start by asking yourself:

  • What are my business goals, and how can grant funding help achieve them?
  • Which projects or initiatives do I want to fund?
  • What eligibility criteria do I meet for potential grants?
  • Am I able to follow all requirements and application deadlines?

 

Consider exploring the following sources to find relevant grants:

  • Government websites: The Australian Government’s grants portal and your state or territory’s business funding resources are great starting points.
  • Industry associations: Many industry-specific associations offer information on grants tailored to your sector.
  • GrantFindrs Portal: If you are a FundFindrs member, you have access to Australia’s largest grants database, with 9,000 sources of grants that are updated daily. Just ask your Account Manager for information on how to access it.

 

There are numerous grants available, and you can use these resources to create a tailored shortlist that aligns best with your business objectives.

 

 

Step 2 | Gather essential documents

Preparing the necessary documentation is a critical part of the grant application process.

 

Commonly required documents include:

  • Business registration details
  • Financial statements: including profit and loss statements, balance sheets, and cash flow statements.
  • Tax returns
  • Proof of eligibility: such as industry certifications or licenses.

 

Ensure that your documents are well-organised and clearly presented. Use headings, bullet points, and concise language to enhance readability. For easy access when completing your application, consider compiling these documents in a digital folder, create a process to review and update it always as needed.

 

Step 3 | Prepare financial statements

 

Your financial statements are a snapshot of your business’s health and should include:

  • Profit and loss statements: Highlight revenues, expenses, and net income over a specified period.
  • Cash flow statements: Provide insight into the cash coming in and going out of your business, which is crucial for assessing liquidity.
  • Balance sheets: Show your business’ assets, liabilities, and equity at a specific point in time.

 

Consider consulting with a specialised team, such as the FundFindrs experts, to ensure these statements are accurate and presented professionally. Well-prepared financial statements not only establish credibility but also demonstrate your business’s viability to grant reviewers.

 

Step 4 | Develop a comprehensive business plan

A robust business plan is essential for grant applications. Your plan should include:

  • Executive summary: A concise overview of your business and its objectives.
  • Business description: An outline of your industry, target market, and competitive landscape.
  • Goals and objectives: Clear, measurable objectives that the grant funding will help you achieve.
  • Project description: Detailed information about the project for which you’re seeking funding, including its relevance and expected outcomes.

 

FundFindrs Funding Chances for Startups

 

Step 5 | Create a detailed project proposal

A project proposal for grants application should cover the following key elements:

  • Project objectives: Clearly define what you aim to achieve.
  • Methodology and approach: Outline the steps you’ll take to implement the project, including timelines.
  • Budget breakdown: Provide a detailed account of how grant funds will be allocated, including direct costs and indirect expenses.
  • Timeline and milestones: Set clear deadlines for each phase of the project and describe how you will measure success.

 

This structured approach demonstrates your project’s feasibility and aligns with the expectations of grant reviewers.

 

Step 6 | Address eligibility criteria

Each grant has specific eligibility criteria that must be met. Familiarise yourself with these requirements to avoid disqualification.

 

For example:

  • R&D Tax Incentive (R&DTI): Eligible entities must be incorporated in Australia, meeting the spending threshold and conduct eligible R&D activities.
  • MVP Ventures: This grant targets NSW startups seeking to commercialise innovative products, requiring a clear path to market and potential for growth.

 

By ensuring your business meets the required criteria, you enhance your application’s chances of success.

 

Step 7 | Craft a compelling narrative

When writing your grant application, tell a compelling story that engages the reviewers. Consider the following questions to guide your narrative:

  • What inspired the idea for this project?
  • How will this funding impact your business and community?
  • What are the potential outcomes and benefits of the project?
  • Why is your business uniquely positioned to achieve these objectives?

 

A strong narrative not only outlines your project’s merits but also highlights your business’s vision and commitment to making a positive impact.

 

Seven Steps to maximise grant opportunities for business

 

How FundFindrs can help your business

At FundFindrs, we specialise in simplifying the grant application process for businesses.

 

Our experienced consultants guide you through each step, from identifying suitable grants to crafting compelling proposals. We help you streamline documentation, ensure compliance with eligibility criteria, offering valuable insights, guidance, and expertise to enhance your chances of success.

 

Are you ready to navigate the grant landscape with confidence and secure the funding needed to fuel your growth? Book a FREE consultation with our experts.