Indigenous Business Development Fund

An initiative of the North Stradbroke Island (Minjerribah) Economic Transition Strategy

QYAC is working with the Queensland Government to support the economic transition of Minjerribah towards sustainable economies for current and future generations of Quandamooka People.
The IBDF is an initiative of the North Stradbroke Island (Minjerribah) Economic Transition Strategy. It provides seed funding for projects that will grow to transform the Island economy into an eco-tourism hub by stimulating economic activity and investment, furthering employment and business opportunities for the Island community.
New Quandamooka business ventures will have the opportunity to apply for funding to be released once a year between 2017 and 2021.

Quandamooka Indigenous Business Development Fund

About the Indigenous Business Development Fund (IBDF)

The goal of the IBDF is to create jobs and businesses that meet the needs of the community and are consistent with the eco-cultural values of the Quandamooka community

The IBDF is a joint initiative of QYAC and the Queensland Government being undertaken as part of the North Stradbroke Island (Minjerribah) Economic Transition Strategy (ETS). Consultation was undertaken with QYAC on its development. QYAC is leading its delivery as the nominated Project Co-ordinator.
The appointed IBDF Assessment and Advisory Committee will consider and approve applications for funding. Successful applicants must show that their business ventures will generate sustainable employment for the Island and meet the eco-cultural values of the Quandamooka community.
New Quandamooka business ventures on Minjerribah will stimulate growth in the Island economy including:

Available funding

The IBDF provides a total of $144 500 in grants for each annual funding round. Your application can specify that you are applying for a grant up to the total amount of $144 500 but be aware that when assessing an application, the IBDF Assessment and Advisory Committee can decide to approve funding for an amount less than that applied for.
To improve your chances of success, your business plan should provide budget details that show how the grant funds would be used to support the business goals.

Funding decisions

The IBDF Assessment and Advisory Committee has been appointed by the Queensland Government in consultation with QYAC. The committee includes nominated representatives from the Department of State Development, Redland City Council and QYAC.
The Committee will assess each eligible* application on its merits and will also assess each application against the criteria listed below. Your application must provide enough information to show how your new business venture:

To improve your chances of success, your application should include a business plan. Your business plan could include some or all of the following: Indigenous Business Australia (IBA) and QYAC will be working in partnership to run a series of workshops prior to the release of Round 2 funding. These workshops will focus on capacity building to enhance indigenous economic participation. Watch the QYAC website for more information on how to enrol for the workshops.

Be aware that the IBDF Assessment and Advisory Committee: *An eligible application means an application that meets criteria 1 and 2 below.
*The strategic priorities of the Quandamooka People can be found in the document

Quandamooka Indigenous Business Development Fund

Timeframes

Round 1 Funding

Round 2 Funding

Quandamooka Indigenous Business Development Fund

Criteria

Criteria One - "New" Business Ventures

Only applications for new business ventures are eligible to apply under the IBDF for funding. This can be entirely new enterprise or a new activity for an existing enterprise.
Your application form must include proof that your funding proposal is for a new venture and is not for an activity or service that your business already provides.

Criteria Two - New "Quandamooka" Business Ventures

Only Quandamooka People or businesses can apply for funding under the IBDF.
A business applying for funds must be owned or controlled by a majority of Quandamooka People (more than 50%)*.
Any joint venture applying for funds must be owned or controlled by a Quandamooka business entity (a Quandamooka business entity is majority-owned by Quandamooka People).
Quandamooka People are the descendants of any one of the apical ancestors listed below:

See Delaney on behalf of the Quandamooka People v State of Queensland [2011] FCA 741 at Schedule 1
*For example, Quandamooka Business Services (QBS), being a division of QYAC, is also eligible to make an application for funding under the IBDF.

“Viable” New Quandamooka Business Ventures

Only viable new business ventures will receive funding under the IBDF. A viable new business venture is sustainable and will guarantee enough revenue to cover all costs and make a profit.

Quandamooka Indigenous Business Development Fund

Apply

Download IBDF Application in Microsoft Word

IBDF Application Checklist

* If you have ticked the box at p 8 of the application, any applications submitted after this date may be considered for the second round of funding.

Submitting Applications

Application forms and attachments can be submitted:

Quandamooka Indigenous Business Development Fund

Frequently Asked Questions

Do I need a business plan?

What is a “new” business venture?

What is NOT a “new” business venture?

How do I prove that I am a Quandamooka person?

What if I miss the application deadline?

How will I find out if my application has been successful or not?

Will QYAC provide support or assistance to complete the Application Form?

Can QYAC make an application for funding under the IBDF?

Can QYAC board members apply?

Can QYAC staff apply?

Quandamooka Indigenous Business Development Fund

Contact

Contact IBDF Applications