Austrade has launched Round 3 of the Export Market Development Grants (EMDG) program, with applications accepted for four weeks from 15 March. The grants are designed to help small to medium enterprises (SMEs) grow their export markets and market their products globally.
The announcment follows the completion of an operational review into the program. Federal trade and tourism minister, senator Don Farrell, released the review's findings on 16 February, saying changes had already been implemented and incorporated into Round 3's criteria.
The program is eligibility based and demand driven. Eligible applicants receive a grant from the available funds with the amount determined by how many applications there are in the round and the available program budget.
There are three tiers, providing a different level of support depending on what stage they are at: ready to export, exporting and expanding, and exporting, expanding, and strategic shift. Companies can apply for any tier depending on their need and must be able to match the dollar value of the grant.
Farrell said, "The operational review consulted broadly with key stakeholders and impacted businesses and found that program is highly valued among exporters.
"However, the review also made it clear that the decision by the previous government to run the final round of the old EMDG reimbursement scheme at the same time of the first round of the reformed EMDG program caused confusion and uncertainty for applicants.
Following the operational review, Austrade has made immediate improvements to EMDG for Round 3, including reducing the term of grant agreements, improving communication, and clarifying the definition of “strategic shift” for Tier 3."
The EMDG program started in 1974, and more than 51,000 SMEs have benefitted, growing their businesses in more than 180 countries. SMEs can apply for an EMDG multiple times for up to eight years.
The next round opens at AEDT 9am, Wednesday, 15 March 2023. It closes at AEST 4pm, on Friday, 14 April 2023.
