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Investment Fast-Track Fund frequently asked questions

General

What is the Investment Fast-Track Fund?

The Investment Fast-Track Fund (IFF) 2022-23 supports regional and rural projects by strengthening their investment evidence base. It will fund activities that support planning and development activities to fast-track strategic investment projects.

IFF 2022-23 will focus on funding activities that increase the pipeline of investment ready projects with an emphasis on those which leverage private investment, boost employment and improve the liveability of rural and regional Victoria.

2022-23 funding will be delivered as a contested and a targeted fund. Applications for the targeted fund will be by invitation only.

Applications

When do applications open and close for the Investment Fast-Track Fund 2022-23?

Applications are open now and close at 11:59pm on 17 August 2022. Late applications will not be accepted.

Applicants are encouraged to apply early to assist in the timely assessment of applications.

How much funding can I apply for?

Funding available is capped at $500,000 excluding GST per project, with the funding capped at a ratio of $4 to $1 of program funding against the cash contribution from the applicant.

Where can I apply for the grant?

The full application process is outlined on the Investment Fast-Track Fund page and in the program guidelines. Your local Regional Development Victoria (RDV) office will supply a link to the online application form.

When will I be notified of an outcome?

Applicants should expect to learn the outcome of their application by October 2022.

Projects

When will my project need to be completed by?

Projects funded under the Investment Fast-Track Fund 2022-23 will need to be completed by June 1 2023.

Will I be required to report on the progress of my project?

Successful applicants will be required to cooperate with any evaluation activity undertaken during and/or after completion of the project.

After completion of the project, applicants may be asked to undertake a survey or submit annual evaluation reports assessing the activity’s success in meeting its stated objectives and outcomes for program evaluation and Regional Development Victoria (RDV) marketing purposes. Depending on the significance of the activity, these evaluation reports may be required for up to three years following completion of the funded activity.

It is the responsibility of successful applicants to put in place adequate collection arrangements to capture the appropriate data in relation to outputs and outcomes.

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