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Bio Technology : July 2009
AusBioBUSINESS Grant scheme opens for aspiring and current exporters The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program to encourage small and medium sized Australian businesses to develop export markets by reimbursing up to 50 per cent of eligible export promotion expenses in a financial year above a threshold of $10,000, for any overseas market except New Zealand and as of 15 November 2008, Iran. Eligible businesses can receive a maximum of eight taxable grants of up to $200,000 each. A minimum grant of $5,000 generally applies. In 2007–08, 63 biotech sector exporters received $2.8 million in EMDG grants, and generated $72 million in exports. To qualify for an EMDG grant, you must: • Be an eligible business genuinely carrying on business in Australia, with annual income of not more than $50 million; • Be seeking to export an eligible product (goods, services, intellectual property or know-how); • Have incurred expenses on an eligible promotional activity (overseas marketing visits, overseas representation, marketing consultants, participation in trade fairs, communications, free samples, promotional literature and advertising, visits to Australia by overseas buyers and registration and insurance of intellectual property). Biotechnology companies promoting eligible, identifiable goods, services, intellectual property or know-how may apply for EMDG. Applications open 1 July 2009 and close 30 November 2009. For more information on EMDG visit the Austrade website at www.austrade.gov.au/exportgrants Biotech industry case study AorTech Biomaterials Volume 19 • Number 2 • July 2009 Australasian BioTechnology 37