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ARTICLE · 24 MAY 2023

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2023 Budget – Laying The Green Brick Road To Net Zero

Davies Collison Cave
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The recently issued 2023 Federal Budget includes significant financial incentives for science and industry in Australia, especially for the green and renewable energy sectors.

AustraliaEnergy and Natural Resources
Dario Buso
Dario Buso
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The recently issued 2023 Federal Budget includes significant financial incentives for science and industry in Australia, especially for the green and renewable energy sectors. Overall, the Government has just committed a further $4 billion in Australia's plan to become a renewable energy superpower.

More specifically, the Budget allocates $392 million for the Industry Growth Program, which will take the form of grants to start-ups and small-to-medium businesses, as well as professional advice services to assist them commercialise their ideas. The Program will provide advice and matched individual grant funding from $50,000 to $5 million, and aims to create "a pipeline of quality, investment-ready projects for the National Reconstruction Fund (NRF) to consider".1

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