24 Mar Government funding for Australian business projects overseas contributing to development
Government funding for Australian business projects
Are you are looking for support for a business project in an Asian country that will also benefit its economic growth and development? There is currently funding on offer from the Australian Government. Australia’s Department of Foreign Affairs and Trade (DFAT) is the lead agency managing Australia’s international presence. It has 100 overseas posts and is responsible for delivering Australia’s foreign aid program.
DFAT runs a Business Partnership Program where it provides funding for private sector commercial projects that also advance Australia’s aid investment priorities – ie do good for profit. The Business Partnerships Platform (BPP) aims to accelerate Australia’s collaboration with private sector businesses to address development challenges in the Asia-Pacific, and support the region’s economic growth, incomes and jobs.
This program provides a great opportunity to expand into Asia with a business idea that will benefit the local population. Asian Australians often welcome the opportunity to ‘give something back’ to their family’s country of origin while utilising their business connections in both countries.
Businesses receive matched funding
The Business Partnership Program matches funding from business for projects that support commercial objectives whilst also:
- Advancing Australia’s aid investment priorities
- Allowing DFAT to increase the number of its private sector partners
- Leveraging the experience and ability of business to address difficult development challenges.
As well as funding, this program can help you to invest in projects in developing countries which have a social and commercial return by giving you access to DFAT’s knowledge and experience of:
- Convening, brokering and influencing in partner countries
- The business, political and regulatory environment in the developing countries where Australia’s aid program operates.
DFAT Business Partnership Program – India Window closing 12 April
India is one of Australia’s most important international partnerships and the two countries enjoy strong political, economic and community ties. One of the latest BPP programs on offer is the ‘India Window’ program which is looking to identify shared value partnerships that will contribute to India’s economic growth and development. DFAT’s current round of the India Window closes 12 April. For more information and to apply under the India Window until 12 April, visit DFAT private sector partnerships.
Accru Felsers specialises in international business and has a partner firm in India with whom we work closely and who can assist you on-the-ground India, while we manage your Australian regulatory obligations. Please contact me if I can assist you.