Private Sector Business Enablement Fund
Supporting public infrastructure projects that activate private sector investment in the Shipwreck Coast - Great Ocean Road region.
The Private Sector Business Enablement Fund (PSBEF) is a $23.4 million initiative that forms part of the Geelong City Deal’s Twelve Apostles Precinct Redevelopment Project. The Australian Government is working in partnership with the Victorian Government Department of Jobs, Precincts and Regions via Regional Development Victoria (RDV), to jointly deliver this program.
The PSBEF looks to support public infrastructure projects in the Shipwreck Coast - Great Ocean Road region that will activate significant private sector investment in the region.
- Strategic headwork services including potable water and sewer services;
- Infrastructure upgrades for roads, power, bridges and communications throughout the Shipwreck Coast - Great Ocean Road region
- Digital connectivity infrastructure within the region, including new and upgraded mobile coverage; and
- Site and project constraints.
Objectives of Program
The key principles of the Private Sector Business Enablement Fund are to:
- Enable and accelerate public and/or private sector investment for infrastructure.
- Deliver infrastructure located in the Shipwreck Coast precinct (Round 1) and Great Ocean Road region (Round 2) as defined in the funding guidelines.
- Deliver infrastructure that aligns directly to enhancing the Shipwreck Coast Masterplan outcomes, where relevant.
- Leverage funding for projects in advanced stages of planning and approvals, where funding contributions and finances have been secured to ensure delivery of infrastructure in the Shipwreck Coast Precinct (Round 1) and the Great Ocean Road region (Round 2).
- Deliver value for money in improving the visitor experience and improving the visitor economy yield for the region (such as through longer/overnight stays).
Round 2 – now open
Applications for Round 2 of the PSBEF are now being sought with $7 million funding available for eligible projects.
The fund is a competitive grant program. The second round opened on 4 April 2022 and will close on 16 May 2022.
Eligible applicants will be invited to submit a formal application to apply for financial assistance under this fund.
Applications will then be assessed against PSBEF assessment criteria as outlined in the guidelines.
Projects that are within the Shipwreck Coast, as defined in the Guidelines, are a priority of the program, and can submit an application for PSBEF consideration.
Projects will also be considered outside of the Shipwreck Coast priority area, along the Great Ocean Road, on a case-by-case basis.
The minimum amount of grant funding that can be sought from Round 2 is $100,000 with a maximum amount of $2 million.
Projects that have high applicant contributions are considered more favourably.
Round 1 – closed
Round 1 was targeted to the Shipwreck Coast region in 2021, with $15.68 million allocated for five projects.
Read the Application Guidelines to establish eligibility.
Contact the Geelong Regional Business Centre to discuss the project idea.
Prepare an application. Forms to be provided to eligible applicants.
The Australian and Victorian Governments are funding the $108.15 million Twelve Apostles Precinct Redevelopment Project through the Geelong City Deal. The funding includes:
- $84.75 million for priority projects in the Shipwreck Coast region
- a $23.4 million Private Sector Business Enablement Fund.
This project is part of the $500 million Geelong City Deal, a collaborative plan to transform Geelong and the Great Ocean Road by the Australian and Victorian Governments and local council.
Geelong Regional Business Centre
Level 2, Harrison Place
237 Ryrie Street
Geelong VIC 3220
Tel: 1800 950 145
Fax: (+61 3) 5215 6099