Grants are usually competitive, so there are many applicants applying for a limited amount of grant funding. Only a few will be successful so how can you ensure that your application gets the tick of approval?
Grant assessors typically read through hundreds of grant applications for each funding round. They rely on the applicant to provide precise details of the business, the project, the problem being addressed, the solution and how it will be achieved. This is what a successful application looks like:
- The applicant has complied with the grant guidelines, requirements, timelines, budgets, etc. ALL of the questions have been answered and they fit the assessment criteria.
- The problem being addressed has been clearly articulated, and the solution has been supported with evidence (data, surveys, etc).
- The applicant has developed a realistic, feasible plan and included timelines, details of stakeholders or partners (as appropriate), roles and responsibilities, activities and outcomes and indicated how they will measure success.
- If using stakeholders and/or partners – the applicant has explained their input, experience and relevance to the project AND provided letters of support.
- Budgets and timeframes are realistic and supported by quotes.
- Other documentation such as insurance, bank statements etc. have been included.
- Any potential issues have been identified and mitigation strategies have been outlined
- The application is well written; credible, aligns with the grant objectives and is within the capability of the applicant to deliver.
Done all that? Grant approved!
Need help to get a product to market or find out what grants are available? Contact INNOVIC on www.innovic.com.au or (03) 8060 3504. We provide commercialisation services nation-wide.
