Regional agrifood and beverage businesses targeting export markets have been given a boost, with the McGowan Government's International Competitiveness Co-investment Fund grant program opening today.
Grants of between $50,000 and $100,000 to help businesses pursue premium markets in Asia will be available from the first round of the $800,000 International Competitiveness Co-investment Fund.
The grants will assist businesses to stabilise and adapt their business to the 'new normal' of doing business in a changing global operating environment.
Recipients will be able to invest in a range of areas that stimulate business growth, like improving scale, diversifying markets, product quality, competitiveness and supply chains, or that develop innovative ways to engage with Asian markets, customers or consumers on virtual or online platforms.
The McGowan Government recognises the financial impact of the COVID-19 pandemic on regional agrifood and beverage businesses and has responded by lowering the co-contribution requirement of this round of grants to one third.
For more information about the International Competitiveness Co-investment Fund visit http://www.agric.wa.gov.au/ICCF
Applications close 11pm Wednesday, August 12, 2020.
As stated by Regional Development Minister Alannah MacTiernan:
"COVID-19 has changed the global marketplace, and local export businesses must change too if they are to continue to grow and thrive.
"The International Competitiveness Co-investment Fund will support WA businesses to adopt new business models, supply chain scenarios, digital tools and marketing strategies that connect with export customers and form strong trade relationships.
"The program has evolved out of the former Asian Market Success program, which has already distributed more than $3.15 million to 27 regional agrifood businesses - providing a leg up to capture opportunities in nearby markets.
"By working together throughout the supply chain WA businesses can continue to retain and build market share in key high value export markets, which will promote business and economic growth, employment and strong, resilient regional communities."
