Applications for MIQ Round 7 now open
Applications for MIQ Round 7 now open
This article was originally published in September 2024, and updated in November 2024.
With the outcome of the election on 26 October now known, the newly elected State Government has confirmed it will continue to support The Made in Queensland (MIQ) Program Round 7 and further bolster the program with a boost of $5 million in manufacturing grants each year.
The MIQ program allocates grants of $50,000 to $2.5 million as matched funding on a dollar-for-dollar basis to support Queensland based small to medium enterprises (SMEs). Such grants aim to transform SMEs into advanced manufacturers through the acquisition of industry leading equipment, technologies, processes, and systems. As a result, the MIQ program endeavours to grow Queensland’s economy by increasing international competitiveness, boosting productivity and innovation, and creating highly skilled jobs.
Eligibility criteria
Applications for MIQ Round 7 opened on 24 September 2024 and will close at 1.00pm on Friday 24 January 2025. The exhaustive list of eligibility requirements is available in the Round 7 applicant guidelines, however most importantly, eligible projects must align with at least one of the following activities:
- Implementing advanced robotics and/or Industry 4.0 and/or 5.0 equipment, which demonstrates it will enable the applicant's products/processes and markets to be different from those of its Queensland manufacturing competitors
- Implementing a sector-relevant technology, system, or process. The project may additionally include development of a plan or strategy.
Additionally, the applicant must be either one standalone entity or a group of entities, and satisfy the following:
- Is a Queensland-based SME with its primary activities and turnover attributed to manufacturing
- Employs between five and 200 full time equivalent staff, with at least five located in Queensland
- Owns the manufacturing equipment currently used in its operations, and will own any equipment purchased with MIQ grant funds
- In the case that the MIQ grant payment is received in arrears, the SME has the financial capacity and standing to complete its eligible project.
SMEs that have applied for previous rounds of the MIQ program are encouraged to reapply, however it’s important to be aware that the total value of all MIQ grants received by any applicant, and their associated entities, across all rounds must not exceed $2.5 million. As repeat applicants will notice, the Round 7 application form has only been minorly altered from the previous round.
Grant application process
Applying for MIQ Round 7 is a two-stage process. Stage 1 involves an online application form, allowing the SME to demonstrate how the eligible project aligns with MIQ’s priority areas. Applicants with the highest ranked Stage 1 applications will be invited to substantiate the eligible project’s value for money and due diligence in Stage 2.
The specific weighted merit criteria by which applications will be assessed is as follows:
Stage 1:
- The project demonstrates that it will build the capacity of the business to increase its productivity and international competitiveness (20 per cent)
- The project will involve integrated, advanced technologies (equipment and/or technology, systems and processes) supporting business transformation by embracing Industry 4.0 and/or 5.0 (20 per cent)
- The project will support current manufacturing jobs and will create new high-skilled manufacturing jobs in Queensland (20 per cent)
- The project aligns with the strategic direction of the business and will increase profitability (10 per cent)
- The project demonstrates sound planning and is achievable within the stated budget and timeframes (7.5 per cent)
- Regional weighting will be applied to the scores of applicants with a project site located outside the boundaries of the following Local Government Areas: Brisbane City, Gold Coast City, Ipswich City, Logan City, Moreton Bay Regional, Noosa Regional, Redlands City, and Sunshine Coast Regional (12.5 per cent).
Stage 2:
- The project demonstrates value for money to the local market and the State (10 per cent).
Grants will be awarded to the highest ranked applicants until the $20 million of funding is exhausted. It’s also important to be aware that receiving a MIQ grant could potentially trigger a clawback adjustment if claiming the R&D Tax Incentive.
How we can help
BDO has successfully secured grants for clients in previous MIQ rounds. We can also help recipients understand the novel changes and assess which expenses are eligible under the program. If you have any questions regarding MIQ Round 7 or any other government grant programs, contact the R&D and Government Incentives team.