The South Australia Innovation and Investment Fund (SAIIF) was established by the Australian and South Australian Governments following the decision by Mitsubishi Motors Australia Limited to cease its manufacturing operation in Tonsley Park, Adelaide.
The $30 million Fund will assist industry development in South Australia by providing grants to innovate job creation projects to strengthen South Australia's manufacturing and technology base.
Round one of the Fund closed on 17 October 2008 and ten projects were awarded a total of $15.4 million in funding, creating 450 full time jobs.
The second funding round opened on 27 February 2009.
Funding will be provided for up to 50 per cent of the eligible capital costs of the investment proposals, primarily being for plant and equipment and excluding land, buildings and infrastructure:
- The maximum grant will be $5 million. Applications involving capital investment of less than $500,000 will not be eligible;
- Investment proposals resulting in the creation of new jobs in South Australia at the expense of jobs elsewhere in Australia will not be supported;
- Applicants with projects located in Adelaide's southern suburbs are encouraged to apply and may wish to consider the Southern Adelaide Economic Development Board's 'A New Economic Future' (
5MB).
Download the Guide for Applications (750 kb)
Download the financial model template (
25kb)
The Fund will close on 29 May 2009.
For further information or assistance regarding the Fund contact the Department of Innovation, Industry, Science and Research on (03) 9268 7548 or by email at saiif@innovation.gov.au .