Information webinar for SEQ Innovation Economy Fund

Tony King
Hello and welcome to the South East QLD Innovation Economy Fund webinar.
My name is Tony King. I'm the executive director of innovation strategy for the Department of the Environment, Science and Innovation. We will be running you through the details of the IEF fund as we the acronym we use for it and LATICIA will also be presenting with me a little bit later on details around the fund.
So I'm sure you'll be very interested in key components of that.
Just want to make everyone aware that we will be recording this webinar and we'll be making that recording available on our website as soon as possible, certainly in the next couple of days that will go up.

That will be another resource that you can revisit in terms of some of the answers to questions you may have, as well as the frequently asked questions document and the guidelines as well.
So we'll kick off into it.
There's a fair bit to cover this afternoon, but before we go too far, I just want to respectfully acknowledge the traditional owners of the land on which we meet today and pay my respects to elder's past, present and emerging and also on the lands that you are all representing as well today.
So webinar agenda an overview of what the City Deal actually is and the Innovation Economy Fund is just one sub project under the entire SEQ City Deal.
I need to run you through the election caretaker conventions.
I can understand if you are super excited about that, but we won't spend too much time on it.
It is a key element about what we can or can't say at the moment.
Key features, key information sources, and then we'll get to the questions.
We’ll start off with the election caretaker convention.
So as I'm sure most if not everyone would know, in Queensland we're currently in a period that's described as caretaker and what that means is there is no sworn government in place as such. State election will occur on the 26th of October and caretaker commenced on the 1st of October.
During that time, we can only deal in factual information and the public service has to be completely impartial.
So we won't be commenting on specific projects or specific questions or scenarios.
We can't do any of those things.
I'm in many examples. We will be referring you back to where we believe the answer is already contained in the documentation that is out there and those rules loosen up a little bit outside of caretaker.
This is a bit of an unusual situation that this one was announced two days before caretaker on the Sunday before caretaker commenced on the Monday night and we have special permission to actually undertake this webinar, so bear with us if you feel a bit frustrated that we may not be answering the question because we are actually limited in what we can say.
Currently, the deadline for applications is the 22nd of November.
We've had a couple of questions about whether that will be extended that particular closing date, 22nd of November is under discussion at the moment.
So I can't say whether it will be or won't be, but it is being considered for extension.
If it is we're talking in the realm of weeks, so I don't want people to think this is going to go into next year or something like that.
It's not.
We would only be talking a few weeks in there and when we have a decision on that we will get back to you as soon as possible and we'll put some information out, push that out to people.
OK.
We will kick into what is the City Deal?
So City Deal is a partnership between the Australian Government, State Government and the Council of Mayors for South East Queensland. 29 commitments, I think all up, it's about $1.8 billion, of which this fund, as I mentioned, is just one project under City Deals.
We have worked with Department of state development and infrastructure, so they are the responsible department for the City Deal. We've also worked with our Commonwealth colleagues to put this package together. The entire City Deal package is about accelerating future jobs across SEQ. A faster, more connected SEQ, more liveable SEQ, and creating thriving communities.
You can go to the website for City Deals and find out more information about the other projects. Some have been delivered, some haven't.
So we are not the only City Deal project that is in the market at the moment.
So keep your eye out for other ones that might be of relevance to you, but the specifics of what we're talking about. So the SQ innovation economy fund. We refer to it as $150 million fund. In reality, that is $50 million that the state government has put in $50 million from the Commonwealth government and there is a leveraged $50 million from industry.
So it's essentially a third or third or third and you will see that in the guidelines around the commitment we say that is needed in terms of dollars.
That is how it works out for this particular funds.
But yeah, different funds work out differently.
That's what's been agreed here.
OK, we will keep flicking along because I want to make sure we spend a bit of time both on the criteria for the fund, but on something like this the fund objectives.

So there's three objectives and there's a couple of subsets to #2 in particular, but it's sort of goes across the three.
So I'm going to actually read through these.
These are very important as you develop your applications that you take account of the words within these objectives and you make sure you are meeting these.
In part, we'll talk about assessment a little later towards the end of the presentation, but in part the assessment is saying that the project that you've said you want to deliver is going to meet these objectives.
So the first one is development of infrastructure within existing SEQ Innovation precincts that will increase their capability to contribute to accelerating the delivery of high value knowledge intensive employment opportunities. Capital projects that contribute to innovation, focus priority industries and innovation growth sectors.
ie: target priority industries and sectors where SEQ has existing or emerging strengths grow the SEQ innovation economy through the development and commercialization of innovative products, services or processes and accelerate the development and application new technologies. I will just say something on this one before I go on to the third one.
We do talk about priority industries and we talk about where we have existing or emerging strengths, but the guidelines are also written so we haven't ruled anything out.
We don't sit here pretending we know what everyone is up to out in industry.
So if you work through the guidelines and you feel as though you will not represented in there, read it as an open document, not as a closed document.
We’re trying not to exclude any possibilities and we would welcome the application.
The third objective is the development of new and leverage existing connections and partnerships that strengthen the SEQ innovation economy to drive greater economic, environmental and social outcomes for the region.
A key element of one and three is jobs and the innovation economy.
So yes, we want to develop a greater knowledge intensive employment economy in SE Queensland and using those existing innovation precincts to leverage that.
We also know that the innovation economy thrives and the innovation ecosystem thrives on support, both economic support and the support of its peers.
And that's the importance of the precinct and the reason I'm focusing on that again, as you develop your applications and later in the assessment criteria, you will see they will be assessed on the basis of what they're delivering but how that will contribute into the future as well.
We want people to think about not only on delivering this piece of infrastructure today valued at X, but this piece of infrastructure will continue to grow and it will continue to concentrate and developments into a particular precinct and grow the knowledge economy, jobs in that location into the future.
That's a key element and a key aspect you need to consider for us to be in a position to say that, the application that we're reviewing or that our assessors will be reviewing is of such importance to SE Queensland that it needs to be prioritised or merit listed over anything else.
So there aren’t a huge amount of funds here.
Yes, there's $150 million and we'll talk in a moment about the breakdown of that.
But you will see from the breakdown of that that we are not talking 50 would probably not talking 50 projects here, we're talking a small number of projects. So the more information you can give us in your applications, the better.
Now at this point, we'll go into the features of the fund in terms of that, I will pass over to you, Leticia, to describe those features.

Leticia Grigorieff
Thanks, Tony, and thank you everybody for your time again.
So what I'm going to talk through now is the fund features.
We’ll be talking about our project funding applicant eligibility, project partners and project eligibility is for key areas of that.
And we can also see here when we talk about total project costs just on the right hand side of your screen and the funding outlines, the total project cost.
And there are three elements to that.
One’s the IEF grant funding and I'll talk about that in the second and then I'll talk about the cash Co contribution and other cash contributions as well.
So the first element that we'll talk about is the IEF grant funding.
Now the fund is broken up into two tiers.
The first tier is minor capital works or projects of at least $1million up to $5 million and these can include things such as refurbishments or acquisition and installation of plant and equipment.
The second tier is major capital projects that look at more than $5 million, up to a maximum of $25 million and this will generally expect to be new builds or extensions of existing or new stages of existing projects that are underway, refurbishments and acquisition and installation of plant equipment as well.
They're the two tiers between that, and both will be considered with equal importance from a perspective of contribution to the economy, the innovation economy.

The next one we talk about is the cash co contribution.
Now this one is where applicants and or project partners are required to provide a cash co-contribution of a minimum of 50% of the total of IEF grant funding requested. And this is the second element of the project cost and when we talk about the minimum of the cash co-contribution being a minimum 50%, that means if you are applying for IEF grant funding or say $10 million, we will be looking for that cash Co contribution to be $5 million.
So it's essentially for every $2 of the IAF grant funding you're looking for we will be looking for industry funding of $50 million. Sorry $1. And that links back to what Tony was referring to earlier over the 50 million from state, the 50 million from federal and the 50 million from industry. The in kind and non cash contributions are not eligible to be included in the calculation of the cash co-contribution and we can also have those cash co-contributions can be sourced internally from the applicant and its project partners but cannot be sourced from other Queensland or Australian government grant funding.
The third element to the total project cost is just other cash contributions and these other cash contributions that can come from other elements of other , your project partners.
So for example, the Queensland Government funding , grant funding can't be considered as, Australian government funding can't be considered as a cash co-contribution, but you could use that grant funding as another cash contribution there as well.
And just to be clear around what other cash contributions could be like, I'll probably just we restate what the cash co- contribution looks like.
So any cash contributions from local government must be included as a cash co-contribution.
Any cash contributions from eligible private entities must be included in the cash contribution and any cash contribution from eligible public entities must be included in the required cash contribution.
So hopefully that might sound a little confusing, but it's clearly outlined in the guidelines and I'd refer you to those guidelines if you are really seeking some stronger clarity on those at this point.
The next one is around applicant eligibility, so applicants must be a local council, including the 11 councils represented by the Council of Mayors of SE QLD mayors which we will often refer to as COMSEC and or an eligible private or public sector entity who is a registered place of business within the local government areas covered by those 11 councils represented by COMSEC. And this looks like the 11 councils would be, when we talk about the eligible Councils, our Brisbane, Ipswich, the Lockyer Valley, Logan, Morton Bay, Noosa, Redlands, Scenic Rim, Somerset, Sunshine Coast and Toowoomba.
Again if you have a look at the guidelines, a list of those private and public sector entities has been provided for you and if an applicant is successful and the project funding is approved, the eligible applicants will be responsible for entering into a project funding agreement with the state government.
The eligible applicant will become the project lead and will be responsible for managing the delivery of that project.
Project partners, so there is no requirement for an applicant to have project partners.
There are also no eligibility requirements for any project partners.
However, there are requirements for the cash co-contributions that project partners may contribute to.
And again, I would direct you to the guidelines and specifically sections 4.2 and 8.2 of the guidelines. Project partners are eligible to support more than one project, including providing a cash co-contribution. The evidence of any project partnerships must be provided as part of the application and should be and can be included through a formal written agreement or signed letters of support.
It also actually just needs to be flagged whilst the project partner can be a partner across multiple projects, there can only be one application spot by each eligible applicant.
So when we talk about project eligibility the fund seeks to applications for capital projects, for new improved infrastructure, which includes new bills, refurbishment of existing buildings or the acquisition of plant and installation of plant and equipment. This could also, as I touched on earlier include new stage or independent component of an existing capital project that will result in the establishment of operational infrastructure delivering innovative activity.
The project needs to be located in one of the following local government areas and these are the same as the 11 from the Council of Mayors, but also includes the Gold Coast.
So a project can be located in Brisbane, Ipswich, Lockyer Valley, Logan, Morton Bay, Noosa, Redland, Scenic Rim, Somerset, Sunshine Coast, Toowoomba and the Gold Coast.
The projects need to be constructed or established on project site, which is owned by the applicant or for which there is evidence of an in principle agreement that the entity that owns the project site is prepared to support.
A really key date in this fund is it all projects need to be completed by the 30th of June 2027.
It's acknowledged that that date may seem a little tight, considering if there is new infrastructure being commenced, however, that links into the lifetime and agreement in the SEQ City Deal and at this point that is the date that we will be working to.
So in terms of other fun features, as we touched on, this is about supporting innovation and the innovation economy and the creation of those high quality roles.
So we haven't done some consideration around what our aggravation precincts and those innovation priority investment areas.
So there is no definitive list of what are the innovative precincts in South East QLD.
Rather, we have defined them as places where innovative activities are delivered through the development of innovative solutions to existing problems, new to world innovation, innovation diffusion, and that's a unique application of technology that is significantly different to any other previous innovation in the market.
Innovation in the indigenous context and that's identified by the applicant as innovative activities that builds a community's economic opportunities and increases its participation in the economy.
Applicants also need to demonstrate how the capital projects will support existing or create new capability for an existing innovation precinct in the priority industries or innovation growth sectors.
And we do have a broad range of these industries and sectors outlined in section 5.5 of the guidelines, but referencing Tony's earlier comments again is that we don't assume to know everything that's going on out there.
If there's something out there that we should be knowing about, please bring that to our, you know, seek to put an application in if that's where it sits in terms of how it fits in the application and project definitions, and we'll consider all opportunities.
So the use of the grant funding applicants must provide a project budget, which may include a construction contingency and this construction contingency is an allowance of up to 30% based on the estimated total project cost, and this contingency has been allowed in acknowledgement of the shifting costs and current state of the building industry as well.
But we can also refer to you again, back to the guidelines section 10.4 in regards to how we acquit any of those contingencies throughout the life of the project and the project savings.
So when we talk about eligible funding eligible uses for the grant funding, we are talking about eligible costs as they may relate to construction costs and this could look at all site works required as part of the construction, the cost of construction related labour, materials and equipment higher, costs required to fully commissioned project infrastructure and project management costs including remuneration of technical or professional staff engaged or employed by the successful applicant directly related to managing the construction of the proposed infrastructure.
And for example, that could include the salary of a project manager of the approved project, but it excludes executive duties and any overhead charges.
The project, eligible costs could also include costs required to purchase, install or commission fixed plant or equipment and all costs associated with acknowledging the state and Australian funding contributions.
There are ineligible costs and they are also actually listed again and the guideline and I refer you to section 6.3 for those.
Okay applications will be assessed in accordance with four assessment criteria.
These criteria will be weighted equally and their application form contains questions to guide the applicant to address the assessment criteria.
So for criteria one, we are looking for the significance of the funding opportunities to support the innovation economy.
Criteria 2 is the strength of the applicant to deliver the capital project.
Criteria 3 is the value and viability of the project

and Criteria 4 is a sustainability and resilience of the innovation precinct.
And I'll hand back to Tony.

Tony King
thank you, Latisha.
So one of those four criteria, I just go back to those for a second.
Can I just again, this is one of those ones that people might like to know more detail about, but in reality, that's what these will be judged against.
We don't have a check sheet here.
There will be comparisons made, I guess between applications, but it's up to the applicants to take into account the objectives of the Fund, how they're going to achieve those objectives through the delivery of innovation infrastructure and meet those criteria and your descriptions, your narrative, your methodology and your finances around those four criteria will be the key elements on which we make assessments about what projects might get up under the fund.
So there are a number of sources of information, as we've already referred to.
So there's the applicant guidelines.
There's the web page and there's a frequently asked questions, and as I said at the start, it's a little difficult in caretaker that we have to stick to factual information.
We probably can't give as much as we'd like, but for the record, I just want to say they are our guide as well.
This is the applicant guidelines.
This is what we're referring to to check information.
This and the FAQs are our guide as well, so we have found today that all the answers to our queries are within these documents and taking the time to look through these you will find that as well.
I do want to touch on a couple of things though.
We will likely update the FAQ the in the next few days and just put out new version, so keep an eye out and keep looking at the website as well.
I can see there is a comment there about time lines.
Will the closing date for the application be extended?
There is already a comment in there about there's discussions on that, but a decision has not yet made.
What I didn't touch on earlier is that decision is more complex during caretakers.
So while I hope we have a decision on that sometime in the next week and certainly sooner rather than later, it's the complexity of the environment we're in at the moment.
That's not an excuse.
That is just the reality of where we are at.
Want to go to questions now so there's a couple of questions there.
And I also wanted to touch on a couple of things that Latisha worked through.
So there was a slide and I'm just asked for help from Lauren.
If she can go back to the slide on the tiers, so tier one and tier twos, so the five and the 25 Million and what I wanted to say on this slide is and we don't have any quota against each of those tiers.
So the total fund of 150 will refer to is there and we haven't divided that up against those two tiers.
We have no forecast on how many applications we might get against each tier and as such that's something we will look at after we see the volume of applications that may come in.
So I personally wanted to make that point a couple of other points that are in the Q&A that I also want to touch on.
So will the time frame.
Ohh, that's 22nd of November.
Sorry.
Let me just.
So the end date being 30 June 2027, Leticia touched on this and she reaffirmed that that is the date that we have to comply with in terms of City Deals.
That is a date agreed between the state and the Commonwealth, and unless something changes between now and that time, that is the date when all infrastructure has to be completed.
So understand that will feel a little tight depending on the size of the infrastructure and where we're at a particularly in the construction cycle, but that's where we're at and we've got pretty strict instructions on that.
So the other question that was asked was can the IEF provide additional funding if the total project cost flows out.
This is a particularly important one in view of what's happening with construction costs and the simple answer is no.
But if you check through section 10.5, project overruns are covered off and there's no obligation to provide further funding or assistance in excess of what's already being provided at the time of the grant.
We expect we will expend this entire fund and it is unlikely that it will be in any way topped up or more money made available.
So that's something to be considered through the applications as well.
And it was a question there about is salary accounted as cash

Leticia Grigorieff
So in terms of its salary, counted as cash, it really depends on where that salary is being used in terms of is an overhead or not or directly related to say as the example I gave around the project manager of the project.
So there's not a definitive answer on that because the context and use of those salaries is what would result in the answer to that.
But I will direct you to that section in the guidelines, which was, 10.4.
There was a question in there I saw about is a university eligible to apply?
I'd refer you again to the guidelines, as Tony said, all the answers are in the guidelines.
I'd encourage you to read those.
A Queensland based university is identified as an eligible applicant.

Tony King
And look, there's a couple of others in there just address.
So if you see multiple projects that are similar in nature, would you facilitate the bringing of those parties together as a single project?
Unlikely to be honest.
So we have to be very impartial when someone applies.
They apply as that project.
And we are doing this on behalf of the state and the Commonwealth and we are not a broker per se as part of our role in doing that.
I want to also touch on.
There's a question about can you clarify what might be included in the definition of plant and equipment?
And does this include take or soft infrastructure?
So where it is not defined in the guidelines and we will be going to standard definitions.
Again, this is one of those questions where can't give any further opinion.
We have to stick to the facts.
I think for the most part, if you can, if you can mount an argument, that X is plant and equipment for this innovation precinct, then we will consider that and it mightn’t have been something that we'd even in visaged our mind to.
So fairly open on that and we're leaving that in the hands of applicants to actually make some of those determinations.

Leticia Grigorieff
There's a question here about who’s the decision maker.
Is there a panel or will the minister approve the successful applicant applications?
There will be a panel around the decisions around the successful projects in the frequently asked questions.
I direct you to question 25 and it links into that response that Tony gave you around the quotas that we don't have quotas, for any of the tiers, but there is just some notes in there that we will administer the programme and conduct the assessment and approval processes, basically considering current government priorities and the need to balance investment to support a diversity of activities across SE QLD.

Tony King
Others there that just touch on.

Leticia Grigorieff
So just another quick easy one, if that's OK.
The co- contribution requirements again is this 50% or two to one.
It's actually the same thing.
It's 50% of the IEF funding that you're requesting.
So if you're requesting $10 million of the IEF grant funding, you will be required to find a cash contribution of $5 million.
So that's 50% of the 10 million or alternatively the other way look at is yes, there was for every $2 of IEF funding you're looking for, we will be requiring a cash contribution of $1 from the industry.
Were there others there that you have?

Tony King
There's a couple of others there.
So is digital infrastructure considered planned equipment?
Again, I go back to.
And we can't give opinions on that.
Read the guidelines.
Make sure you comply with that.
If you can't see your definition within that guide line, go to a standard definition of what that actually is.
Um, because that's all we can say at this point.
But I will say we're talking about innovation precincts.
So yeah, if you can mount the argument.
If you can mount the narrative that suggests that X is within the definition of plant and equipment, then it will obviously be assessed like that.
So it really comes down to the ability to sell why the application contributes to those objectives we talked about and the overall outcome that we're seeking at the end of the day.

Leticia Grigorieff
There's been another question, can any project be back dated?
say within 12 months previous.
The answer to that is no.
All projects can only be funded for costs incurred after the project has been approved there is no backdating of retrospective costs.
There’s another question just underneath there, around is the university collaborating with the Council for a pilot scale test, who would be the better applicant? decisions and discussions between those two need to decide as to who would be the preferred applicant between those um parties, noting that only each party can only submit one application regardless of the tier.
So there's not a right or wrong answer again as to who should be the applicant.

Tony King
So question about went we expect to have the results of the applications.
This is a bit of a tricky one, so we've got some guidance around dates, but we've also talked today about there might be a small extension on the deadline may or may not and so we're waiting to see that and we need to factor that into future dates.
I think we're talking somewhere around March next year is probably the best guidance by the time we've done due diligence on applications, they've been assessed and there was talk about the approval processes before and yeah, this is Commonwealth and state funds there is increased complexity around the approval process in doing that and it probably takes slightly longer than it ordinarily would.
The other complexity that we are trying to avoid and we will do our best to do so, is that there will be a federal election.
And just as I'll make explaining, sorry.
A federal election by I think, may next year and as I'm explaining caretaker is limiting what we can say or do now it will do the same at the federal level.
So we're trying to balance getting the fund closed considered applications, approved, announced, etcetera before we go into that process, but we'll continue to update as we get through particular hurdles.
We will continue to provide updates on the website when we expect announcements to be made.

Leticia Grigorieff
Question around the funding pool if not distributed this grant round we're not anticipating that we won't be fully expunging this fund at this point and we're not anticipating they'll be future rounds either.

Tony King
There’s been a couple of questions around must the applicant industry be located in the precinct at the time of application.
We've talked about the existing innovation precincts and I guess we're talking about leveraging those precincts.
I can't answer that question exactly because of where we are in the in the process, but I I'm saying you need to consider that as your narrative, you need to consider that yeah, we're trying to leverage existing innovation precincts into more knowledge economy jobs and how you might do that depending on the various scenarios that you're involved in.

Leticia Grigorieff
I'm just having a quick look at the one around March 2025 approval does not leave much time for design and context by mid 2027.
Is there any scope for on how to do this well? Unfortunately, we are unable to provide advice in relation to that matter.

Tony King
So there's also a question, I can in existing innovation precinct be expanded with the new site.
Think this goes into that previous question a little bit.
Alright so I understand if you're going to start from scratch right now, it might be difficult.
That's why I guess we're hammering this point about existing innovation precincts,  and leveraging those existing innovation precincts.
So how do we do that?
And then how do you explain that combined with both the assessment criteria that we bashed up before and the objectives of the Fund, so have a look at that and see how they piece together in terms of answering that.  We will make as much of this presentation as possible, like not just the recording, but the words and the slides available so people can come back and get them, and you can see that in the top right of this slide, for instance, it is drawing you to the right areas of the applicant guidelines for you to have a look and go through in detail.
Every circumstance is different, and as we've said, we can't actually comment on individual circumstances presently and to be honest, whether we're in caretaker or not, you probably couldn't, we have to remain impartial through this process and be saying not to favour one application over the other.
We are not advisors per se, but we are developing this and we're making it as open as possible for applicants to make their own determinations on their application.
And so there's one there, Latisha about, is an applicant able to submit multiple applications if they're submitted with different co applicants for different projects
each time? I think you touched on that earlier saying only one applicant, is that right?

Leticia Grigorieff
Correct. So direct you to the frequently asked questions and specifically #10 which says can an applicant make multiple applications and the answer to that is no.
So there can only be one applicant per application, so there's no co, so I'm trying to find that word again, co applicants. So, we can have multiple project partners, and you can have multiple project partners across multiple applications.
So the same project partner can be across multiple applications, but there can only be one application per applicant for that.

Tony King
Again, and top right in the slide is giving you a good indication of where you'll find the words around this to enable you to look into it a bit more.
I just wanted to touch on so that last one. Companies who are planning but have not yet moved to an existing innovation precinct eligible.
Again, these are specific scenarios that we can't go into you.
You need to go back and look at applicant eligibility and then project eligibility.
There are a number of hurdles to eligibility for what will be considered.
You need to read these guidelines are very, very closely in terms of making your application and if you read them very closely, it will provide those the answer to that question.
There aren't.
Like there's a there's a particular theme to some of these questions coming through, I must say, which is great.
There's not a whole lot to this fund when you strip it back, so if I can go over the key points, $150 million, we're talking essentially 2 to 1 in terms of the co contribution.
so $10 million application $5 million co-contribution in there.
As we talked about priority areas, but at the end of the table around priority areas, there is a catch all that says any other area that you think essentially we should consider.
So we have detailed all that.
I encourage people to put in as detailed applications as you can, both on, the finances, the methodology you've used, how you're going to contribute to the knowledge economy in SE Queensland and I will ask Lauren just to go back to the assessments slide if we can, which is about 3rd of 4^th from there it is. So again going back to these significance of the funding opportunity to support the innovation economy, the strength of the applicant to deliver the capital project value and viability of the project and sustainability and resilience of the innovation precinct.
As I mentioned earlier, this is not just about building a piece of infrastructure today.
This is also about the sustainability of that infrastructure into the future, and that is a key element for us in terms of considering the application. How do we turbocharger the knowledge economy jobs by an investment or a further investment in an innovation precinct in SE QLD and what that looks like over the next X years.
So consider how you might do that in your applications.

Leticia Grigorieff
We've got another question that relates to another one that we had earlier on backdating of project costs and this one is a bit more specific around the project started after submission of application.

The answer is still only costs that are related to the project incurred after advice of approval will be eligible.

Tony King
So that's that one's pretty clear.
Essentially, no.
We won't consider a project that might be eligible, but it has already sustained costs on the risk basis that they took those costs won’t be considered as part of the project costs it will only be the costs going forward after the approval has been given.
There’s further questions there at the moment that I can see.
So again I want to refer you back to the key documents around the web page, the guidelines and the frequently asked questions, which we will continue to update.
And if you continue to check those, that would be great.
If you have further questions, you can send them to us and Lauren will just click up that address there for you.
If you have further questions and drop us a line. Our approach will be similar even for online questions. So if it's a very specific scenario, we won't be able to answer it.
We will give you generic information, point you in the right direction, but that work will have to be done by the applicants.
No further overt questions.
I want to thank everyone for their attendance.
I acknowledge the interest from everyone in this I acknowledge your patience in terms of where we are in the political cycle and caretaker and what we can or can't do and appreciate the interactions this afternoon. I also want to acknowledge everyone that's contributed to this.
That is, the people in state development have Commonwealth colleagues and the team here that have put in a mountain of work to make this available in a very short time frame.
And I acknowledge the comments around the short timeframes moving forward.
This is a project we picked up not too long ago, and we've got into market very quickly.
So you might see that side and it might make your job easier from this point forward, but I need to show appreciation for the people in here that have ultimately done a very good job of putting something together quickly and into market to give people as much time as we can.
The recording will be made available as well as we discussed, and you can send in specific questions to that website, noting that we may or may not be able to provide specific information.
And with that, let me just check my notes.
I have missed anything.
All registered attendees will receive an email when the recording becomes available.
So fantastic work to all the team here.
Thank you all for your time.
We really do appreciate it and we wish you all the best with your applications.
We look forward to seeing them.
Thank you.