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16<br />
GOVERNMENT GRANTS<br />
AND INVESTMENT<br />
Government departments may also be willing to contribute<br />
to your startup. One of the main advantages of these<br />
investments is that the department will not usually be<br />
looking for anything in return by way of an equity stake.<br />
As an example, Jobs for NSW offers two<br />
types of grants for startups. Minimum Viable<br />
Product Grants are for startups that are not yet<br />
generating revenue but are in a stage of gathering<br />
feedback from customers and testing business<br />
models. Building Partnership Grants are for<br />
startups that are already generating revenue<br />
and are looking to accelerate market adoption.<br />
While the money won't necessarily make or break your<br />
startup, it's relatively risk-free. The only cost to you is<br />
the cost of filling out an application form and speaking<br />
to the relevant person at the government department.<br />
Aside from startup-specific grants, there are also grants<br />
aimed at businesses doing particular types of work and at<br />
groups of people, including women and indigenous Australians.<br />
Finally, governments may also be willing to act as the<br />
guarantor for a loan so that you can raise debt finance.<br />
16
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