Capital Investment stream

Page last updated: Friday, 22 March 2024 - 11:23am

Please note: This content may be out of date and is currently under review.

Applications for Capital Investment stream are open. Stage One closes 3 May 2024

What is on offer:

This stream provides funds to eligible applicants for the implementation of capital investment projects to expand, diversity or relocate their value adding and processing operations in WA. Grants available from $500,000 to $1,000,000 (excluding GST).

Who is this for?  

Private sector businesses implementing capital investment projects relating to food and beverage manufacturing or other forms of value add processing in WA.

See below for specific eligibility

Overview

The objective of the Capital Investment stream is to provide funds to eligible applicants for capital investment projects to expand, diversify or relocate their value adding and processing operations in WA. It will support investments in new manufacturing capability or processing facilities, new technology or plant modernisation which result in reducing WA’s reliance on imported products, supports business growth, fosters innovation and creates jobs.

Projects must align to the stated objectives of the VAIG and be completed by 28 February 2026.

What can you use funding for?

Capital investment funding assistance may be available for new investment or bringing forward planned investment projects in existing businesses that involve value adding post harvest or production, which is defined as any activity that transforms WA primary production from its original or raw form (i.e. commodities) into a state which is perceived as more valuable to the end consumer (i.e. products), thereby accruing higher margins to the producer. This can include:

  • Investments in new manufacturing capability or processing facilities, new technology or plant modernisation which results in reducing WA’s reliance on imported products, supports business growth, fosters innovation and creates jobs;
  • Investments that improve sustainability, reduce the environmental impact of the manufacturing or processing activities being undertaken or contributes to improvements in broader environmental, social, and governance outcomes;
  • Investments that enable expansion or diversification of business operations that relate to value adding to primary production in WA; or
  • Businesses looking to relocate operations to, or expand existing operations in, regional and/or metropolitan WA. 

To view past Capital Investment stream recipients and view some recent case studies, visit Capital Stream Case Studies.

Are you eligible?

To be eligible to receive a grant, your application must be related to food and beverage manufacturing or other forms of value add processing to primary production in WA; and the applicant must meet ALL of the following criteria:

  • Be a private sector business (including incorporated trustees), public companies, grower cooperatives, or similar organisations that have an ABN, and are registered for GST;
  • The project be located in, or looking to relocate to, WA including regional and/or Perth-metropolitan area;
  • Be capable of entering into a legally binding agreement with the WA Government
  • Be a ‘going concern’ – i.e., will continue to trade into the foreseeable future and there are no plans, events and/or circumstances known to the Applicant which would result in their business ceasing to trade
  • Have the financial capacity to fund the minimum cash contribution (50% of the total project budget);
  • Aboriginal business applicants that do not have a 50% cash contribution towards the project but can demonstrate in-kind and/or a lesser cash leverage may be considered on a case-by-case basis.
  • Have been in operation for a minimum of two years (or similar established track record);
  • Have a project to be delivered by 28 February 2026. Projects must commence within six months of executing a funding agreement (which will include agreed milestones and project deliverables) with the State.

Regional and Aboriginal businesses are encouraged to apply.

Business clusters, consortiums, and collaborations are also encouraged to apply where a lead business is defined that meets the above criteria and applies and accepts responsibility for contractual obligations on behalf of the business group.

How do I apply?

Applying for funding is a two-stage process:

  • Stage One is an open Expression of Interest process (EOI) allowing businesses to submit a short project summary. No funding will be awarded at this stage. Projects will be assessed and those considered to have high potential will be invited to submit a detailed grant application in Stage Two. EOI Applications close 5pm (AWST) on Friday 3 May2024;
  • Stage Two will be a closed, invite-only grant process for the successful projects from Stage One. It will be a competitive process with all applications assessed on their merits by an independent assessment panel.
 

 

Opening

   Closing

Stage One

Expression of Interest Application

22 March 2024

3 May 2024 - 5pm AWST

Stage Two

Grant Application

Invited recipients only

3 June 2024

15 July 2024 - 5pm AWST

Projects cannot commence prior to the award of funding and must commence within six months of executing a funding agreement with the State. Based on the key dates in the guidelines, it’s suggested that projects would start no earlier than the indicative announcement from September onward.

Before starting the application form, make sure you have read the applicant and project eligibility criteria above as applications that do not meet the criteria will not be considered for funding.

Once you are ready to apply, click here to submit your application via SmartyGrants

 

Information Webinars

Two webinars providing further information on the Capital and Feasibility streams of VAIG Round Three will be held on:

  1. Tuesday 9th April at 11:30am. Register at https://bit.ly/VAIGWebinar9April
  2. Thursday 11th April at 9am. Register at https://bit.ly/VAIGWebinar11April

More information

Find out more detailed information on the Program in the Guidelines, the set of Frequently Asked Questions and the Application Form or contact an Agribusiness Food and Trade team member by phoning +61 (0)8 9368 3853 or emailing aftprograms@dpird.wa.gov.au.