You must have one or more legally enforceable agreements to receive funding with a total of at least AUD 200,000. The funding must be from one of the following entities:
- Commonwealth Government agency
- State or Territory government agency
- Publicly funded research or innovation organisation
- Higher education provider
- Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership
At least 10% of the funding must be payable to the entrepreneurial entity within 12 months of the activity starting in Australia. This entity can be an individual, a company or partnership.
Additionally, you must have held at least 30% interest in this activity.
All of the funding must be unencumbered and lawfully acquired.