About this programme
Innovation Connect (ICON) is a competitive, proof-of-concept grant funded by the ACT Government and delivered by the Canberra Innovation Network (CBRIN) since November 2018. ICON was first implemented by the ACT Government in 2008, so it predates CBRIN's involvement by a decade and has been running in some form for close to two decades.
The grant is matched funding of between $10,000 and $30,000 (GST exclusive) toward a single project, aimed at early-stage, pre-seed innovators and entrepreneurs based in Canberra and the surrounding region. It exists to help a specific idea move to a market-ready position — proving technical or commercial feasibility, building a prototype or functional software, and testing a go-to-market approach — rather than to fund a business generally.
ICON runs a maximum of two funding rounds per financial year, each opening and closing on dates CBRIN publishes on cbrin.com.au/programs/icon. Every applicant must first book an introductory meeting with CBRIN before an Expression of Interest (EOI) is invited, and an independent panel — co-chaired by an ACT Government representative and a CBRIN representative, neither of whom votes — makes the final funding decisions.
A defining feature of ICON is the matched-contribution structure: the grant is not a straight cash payment. Recipients must contribute an amount equal to the grant, either as project expenditure, in-kind founder time, or both, and the grant itself is paid in two tranches tied to signing a Funding Agreement and later acquitting the project.
How it works
ICON provides matched funding of $10,000 to $30,000 (GST exclusive) per successful applicant. The recipient must contribute a matched amount equal to the grant — as cash expenditure on the project, in-kind contribution of the founding team's time, or a combination of both — and must be able to show it has sufficient funding or in-kind support to complete the project.
Payment is split into two tranches: 50% is paid upfront on receipt of an invoice after the Funding Agreement is executed, and the remaining 50% is paid as a reimbursement after the recipient submits — and CBRIN accepts — an acquittal report showing the project milestones were met and the full grant amount (plus the matched component) was spent.
The grant period — the window in which the funded activity must happen and the money spent — is typically between 3 and 18 months, though CBRIN says longer periods may be accepted in some circumstances. Any expenditure incurred before the Funding Agreement is signed cannot count toward the matched contribution.
Eligible uses include product development, project-specific resources and consumables, marketing plan and strategy development (excluding paid advertising and content), website development or upgrades, project-specific staff wages, technical feasibility testing, and market testing/customer validation. Ineligible uses include land purchase, training or education, major capital expenditure or construction, executive remuneration, general business-as-usual costs (rent, electricity, phone), retrospective costs, application-preparation costs, and paid advertising or marketing collateral/content.
Who can apply
To be eligible, an applicant must hold an Australian Business Number (ABN) by the time the Funding Agreement is signed (and be registered for GST if applicable), have annual revenue under $2 million or be pre-revenue, and have its registered office and principal place of business in the ACT or surrounding region — or otherwise be a business primarily focused in the ACT.
An applicant is not eligible if it is a Commonwealth, state, territory or local government agency or body (including government business enterprises); if it or its founder/director sits on the independent panel for the current round; or if the business, its founder, or its director has previously received an ICON grant.
Applicants may submit only one EOI per funding round, and the grant is intended for a single defined project rather than general operating funding.
How to apply
- Read and agree to the current ICON Grant Guidelines and the sample Funding Agreement, both published on cbrin.com.au/programs/icon, before applying.
- Book an introductory meeting with CBRIN via cbrin.com.au/programs/icon (the "Book an ICON grant chat" link on the program page) to have your eligibility discussed.
- If eligible, submit an Expression of Interest (EOI) through the webform CBRIN provides, including a 60-second video pitch, by the round's published close date. The webform asks short answers covering: your project in one sentence, who your customer is, the problem they face, how your product/service solves it, how it differs from existing solutions, your key business milestones for the next 12 months regardless of the grant outcome, and what you plan to spend the grant on.
- If shortlisted (up to 20 projects per round), prepare and deliver a 3-minute face-to-face pitch followed by Q&A with the independent panel on the announced pitch day. CBRIN runs pitch practice sessions beforehand and expects shortlisted applicants to attend at least one.
- If selected, enter into a Funding Agreement with CBRIN. This must be executed before any grant payment or before spend counts toward your matched contribution.
- After the Funding Agreement is signed, invoice CBRIN for the first 50% payment, complete the funded project within the agreed grant period, then submit an acquittal report (using CBRIN's template) with supporting evidence to invoice for the remaining 50%.
Documents you’ll typically need
- Australian Business Number (ABN), with GST registration if applicable
- Expression of Interest webform responses (project summary, customer, problem, solution, differentiation, 12-month milestones, planned grant spend)
- 60-second video pitch (submitted with the EOI)
- Shortlist pitch materials for the 3-minute face-to-face pitch and panel Q&A
- Signed Funding Agreement with CBRIN
- Invoices for each of the two payment tranches
- Acquittal report (CBRIN-supplied template) with evidence of expenditure — e.g. photographs, screenshots, paid invoices, bank statements — covering both the grant funds and the matched contribution
Frequently asked
What is Innovation Connect (ICON)?
ICON is a competitive, proof-of-concept grant funded by the ACT Government and delivered by the Canberra Innovation Network. It provides matched funding of $10,000 to $30,000 to help early-stage, pre-seed Canberra-region entrepreneurs prove a concept, build a prototype or functional software, and test their go-to-market approach.
Is ICON a straight cash grant?
No. ICON is matched funding — the recipient must contribute an amount equal to the grant, either as project expenditure, in-kind founder time, or both. The grant itself is paid 50% upfront after signing a Funding Agreement, and 50% as reimbursement after an accepted acquittal report.
Who is eligible for ICON?
You need an ABN (by the time you sign the Funding Agreement), annual revenue under $2 million or be pre-revenue, and your principal place of business in the ACT or surrounding region. You are not eligible if you are a government agency, sit on the assessment panel, or you, your founder or director has previously received an ICON grant.
How often does ICON open for applications?
CBRIN runs a maximum of two ICON funding rounds per financial year, with opening and closing dates published on cbrin.com.au/programs/icon for each round. Late EOI submissions are not accepted without prior approval for exceptional circumstances.
What is the application process?
First book an intro meeting with CBRIN to confirm eligibility, then submit an EOI (webform plus a 60-second video pitch) by the round close date. If shortlisted — up to 20 projects per round — you deliver a 3-minute pitch and Q&A to an independent panel on the announced pitch day, and successful applicants then sign a Funding Agreement.
What can the grant money be spent on?
Eligible spend covers product development, project-specific resources and consumables, marketing plan/strategy development (not paid advertising), website work, project-specific staff wages, technical feasibility testing, and market testing or customer validation. It cannot fund land purchase, training, major capital works, executive remuneration, general overheads like rent, or the cost of preparing the application itself.
How long is the grant period?
The grant period — the time allowed to complete the funded activity and spend the grant — is typically between 3 and 18 months, though CBRIN says longer periods may be accepted in some circumstances.
Who decides which applications are funded?
An independent panel of local innovation-community members assesses and compares eligible applications, co-chaired by a non-voting representative each from the ACT Government and CBRIN. The panel's decision is final and there is no appeal mechanism, though unsuccessful applicants are offered a feedback session.
Reviewed 2026-08-16. Programmes change — confirm current eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private consultancy and is not affiliated with any government authority.