Fostering Innovation Sponsorship Program

The Fostering Innovation Sponsorship Program is a bi-annual program. Round 1 closed on 15 February 2024 and Round 2 submissions closed 10am July 22nd 2024..

The Program is designed to support the timely identification of activities within the innovation sector that address the focus areas below:

• Innovation ecosystem development (increase visibility of, and participation in, the innovation precincts across NSW that are helping to enable this work)
• Development of stronger partnerships with organisations who advocate or represent industry and startups interests relating to the adoption of innovation, and assisting startups to start, translate and or grow their businesses
• Priority sectors (refer to the list of sectors defined in Section 3.3 of the guidelines)
• Equitable participation - support for diversity and inclusion initiatives for the innovation ecosystem.

Key information

Status: Closed

Sponsorship Amount: Funding is provided on a bi-annual basis. For Round 2, successful applicants will be awarded funds from a maximum available pool of $400,000, with the final amount decided at the discretion of Investment NSW.

Sponsorship guidelines

These guidelines contain information about the Program, whether you are eligible to apply, and how you can make an application.

You must read and understand the guidelines before applying.

Download Fostering Innovation Sponsorship GuidelinesDownload File

This document sets out:

• the purpose of the Program
• the eligibility criteria
• the assessment criteria
• how applications are assessed
• how recipients will be monitored and evaluated
• responsibilities and expectations in relation to the Program.

These guidelines may be updated by Investment NSW at any time. If this occurs, the revised guidelines or any addenda will be published on this website.

Eligibility

Investment NSW cannot consider your application if it does not satisfy all the eligibility criteria outlined below:

To be eligible, applicants must:

• Be a legal entity.
• Have an Australian Business Number (ABN) or be registered as a not-for-profit organisation or charity.
• Have appropriate insurance cover for the proposed project activity.
• Be registered for the purposes of GST.
• Have an account with an Australian financial institution.

You are not eligible to apply for the Program if you are:

• Insolvent
• An individual
• A partnership
• An unincorporated association
• A Commonwealth, state, territory or local government agency or body excluding government corporate entities.

For an activity to be eligible it must focus on benefitting NSW’s Innovation Ecosystem and offer significant exposure for Investment NSW.

Examples of eligible sponsorship activities:

• A conference focused on the innovation sector in NSW
• A major events or awards nights that brings together the innovation ecosystem
• An Innovation Festival that engages regional areas or connects innovation precincts.

Examples of non-eligible activities:

• Pre-accelerator or accelerator programs
• Funding for coworking space
• A workshop series.

Sponsorship Criteria

All eligible submitted sponsorship activities will be assessed by the Assessment Panel against the following six criteria:

Role of NSW Government

Demonstrates contribution to one or more of the following: 

• The need for and impact the activity will have on the NSW innovation ecosystem
• How the opportunity/event will help grow and develop the NSW innovation ecosystem. 

Enablers of Innovation

Demonstrates link to key enablers of innovation such as:  

• Entrepreneurship education
• Capital and investment
• Talent pipeline
• Global expansion
• R&D commercialisation.

Priority Sectors

Be aligned to one of the following NSW Government Industry Development Framework priority industries:

• Agriculture and agrifood
• Clean energy and waste
• Medical and life sciences
• Digital systems and software
• Advanced manufacturing
• Biotechnologies
• Digital technologies.

Innovation Precincts

If applicable, demonstrates connection to priority precinct(s):

• Tech Central
• Westmead Health and Innovation District
• Randwick Health and Innovation Precinct
• Macquarie Park Innovation District
• Western Sydney Aerotropolis
• Liverpool Innovation District
• ANSTO’s Lucas Heights Campus
• Central Coast Innovation District
• Newcastle Innovation District
• Wollongong Innovation District
• Special Activation Precincts (regional NSW).

Diversity, Equity and Inclusion

Demonstration of how diversity, equity and inclusion will be considered and implemented in the planning and delivery of the activities.

Note: Diversity metrics may include gender, age, cultural and linguistic background, Aboriginal or Torres Strait Islander, neurodiversity, LGBTIQ+, non-binary or gender diverse, disability/chronic illness, and regional/remote location.

Value for Money

Demonstrates value for money through:

• Outlining how return on investment is achieved though sponsorship benefits
• Outlining the other opportunities available as part of participating in the event/opportunity e.g., building networks, connection to industry etc.
• Demonstrate need for funding through a budget breakdown, including co-sponsorship and other financial contributors.

The assessment panel will assess your application based on equal weighting given to each criterion above.

How to apply

Applications for Round 2 are now closed.

Before applying, you must read and understand the sponsorship guidelines.

The sponsorship application form and guidelines may be found on this website. Any alterations and addenda will also be published here.

All applications must be submitted electronically via the website.

To apply you must:

• Complete the Application Form in its entirety to be eligible for consideration.
• Provide a proposal addressing:
  • All the eligibility criteria 
  • All the assessment criteria 
  • An indicative budget for the sponsorship funding provided
• Clearly mark any information that should be treated confidentially
• Submit your application by the timelines outlined.

Assessment process

Stage 1: Eligibility Assessment

Investment NSW will conduct an initial eligibility screening for all applications according to the published eligibility criteria in the program guidelines that are set out in Section 2: Eligibility Criteria. Only applications which meet all eligibility criteria will progress to assessment against the assessment criteria.

Stage 2: Assessment by the team

The membership of the assessment panel (the Panel) will be determined by Investment NSW in its sole discretion and may include independent assessors from the broader NSW public sector.

The Panel will assess each application against the assessment criteria and compare it to other eligible applications before recommending which applications should be awarded sponsorship.

On behalf of the Panel, the Department may seek additional information about you or your application. The Panel has the discretion to recommend that an applicant receive a smaller amount of funding than indicated in their application.

The Panel members are expected to assess all eligible applications unless they have a declared conflict of interest for a certain application(s). Panel members will individually assess all eligible applications against each criterion set out in Section 3: Assessment Criteria. All criteria have equal weighting.

Notification of application outcomes

We will advise the outcome of your application via email and/or letter. Unsuccessful applicants will be notified via email and/or letter of the outcome of their application and will be offered feedback if requested.

If unsuccessful you can submit a new application for a future grant opportunity. Your submission must meet the eligibility criteria and should include new or additional information to address any feedback from your previous application.

Successful applicants will be notified via email. If you are successful, we will advise you of any specific conditions attached to the grant. This could include a request to keep the sponsorship confidential for a specified period due to an announcement being made by the NSW Government in relation to this Program and your award. The NSW Government will notify successful applicants as per the timing outlined on the website. 

Standard Sponsorship Agreement

Successful applicants will be required to enter into a sponsorship agreement with Investment NSW. The agreement will specify obligations, including use of the sponsorship for activities occurring in NSW, return of any unspent sponsorship funds and reporting requirements.

Download template sponsorship agreementDownload File

The applicant is required to provide a financial acquittal with a final report following the sponsorship activity, demonstrating that sponsorship funds were used in accordance with sponsorship guidelines.

Download a template of the final reportExternal Link

Support and contact

If you have any questions regarding the Program, please contact us at https://www.investment.nsw.gov.au/contact-us/ or via phone on 02 9000 1365

Previous funding

In previous years the Fostering Innovation Team within Investment NSW have provided sponsorship support to the following ecosystem building activities held in NSW:

Startup Festivals

• Spark Festival
• Hunter Innovation Festival

Conference/Events

• Quantum Australia 2023 Conference
• UTS Startup Summit
• Climate Salad Conference
• Catalyst West 
• Innovate Western Sydney
• Startmate Demo Day
• Tank Stream Labs Startup 2 Scaleup Summit
• Energy Labs Going from Startup to Scale Up Climate Tech Edition
• Liverpool Innovation Precincts - Breakfast Series and Pitch Night
• NiceTo Palette Show
• Australian Technology Competition 2024
• Cicada Innovations Tech23 2024

Award Ceremonies

• InnovationAus Awards for Excellence
• Startup Daily Awards