Circular Economy Markets Fund: Materials – Stream 2: Commercialisation examples

Last updated: 15 September 2022
Prior to 1 July 2022, this fund was named the Recycling Victoria Markets Acceleration Fund (RVMAF).

Example – Product and material/s

What recycled material will your product be made of? Include virgin and recycled materials.

Example – Project milestones

Outline the proposed timeline and key milestones for the project..

  • Identify key stages, activities and dates in the delivery of the project
  • Ensure you consider approvals that may be required from regulatory authorities such as the EPA.
  • All projects must be completed by 30 April 2024.

Example – Risk guidance

Risk management assessment

This information is designed to support applicants in completing the project risk management assessment in their project application.

Applicants are required to demonstrate how risks have been considered in their project development and what control measures will be implemented to manage identified risks. This information is used to inform the risk rating assigned to each project application as part of the assessment process.

Risk category definitions and examples

Broadly speaking, applicants should focus on identifying risks that relate to achieving the project objectives.

Risk category Definition Example
Schedule Anything that will likely lead to delay in the project schedule and ability to meet agreed milestones. Delays in approval processes, unforeseen approval processes, availability of equipment and/or resources, stakeholder/community opposition, unforeseen external impacts such as export and other commercial bans (e.g. China), or restrictions such as COVID.
Budget Any risk that can result in increased cost. Higher than expected demonstration or field trail costs, feedstock costs, construction risks, the need to source material from further away than planned, testing equipment costing more than quoted.
Environmental, natural and cultural heritage Any impact on the natural environment and heritage of the environment (more relevant for demonstration projects). Field trial and demonstration works can lead to loss of natural habitat, loss of amenity, disturbance of items of cultural significance, etc.
OH&S This refers to safety and health risks. The risks and proposed mitigants should consider the risks during the key stages of the project. Design and construction and operational risks. Consideration of OH&S is required as part of application.
Resourcing Any risk relating to the project delivery team. Procuring research assistants and project staff with the right technical expertise, visa delays, etc.
Technical Any risks associated with the technical aspects of the project. Lack of clarity around process for standard/specification development or validation to existing standards.
Waste inputs Any risk associated with the pathway for the waste material. Availability of required recycled material, feedstock, contamination, etc.
Outputs Any risk associated with the pathway for output or likely to affect the quality of the project outcome. Industry or project partner withdraws from project, intellectual property arrangements not satisfied to project partner satisfaction, research or demonstration failures that doesn’t yield a product worth pursuing, product/technology/research is not realised in the market economy.

Management strategy

This section requires applicants to outline the action taken to manage and reduce the identified risk.

Examples of risk management controls are outlined below. Your risk mitigations should be more detailed than these examples, and include timeframes and who is responsible for taking the action.

  • Due diligence on industry and project partners.
  • Formal partnership agreements.
  • Contingency built into project timeframes and budgets.
  • Financial strength of the applicant and project partner(s).
  • Multiple quotes obtained for contracted services.
  • For demonstration projects, scope of work verified by third party.
  • Securing end markets and offtake agreements.
  • Obtaining approvals (council, state government, etc.).
  • Secure feedstock supply chains.
  • Stakeholder engagement and consultation to inform project design and technical specification development.

Example – Project budget

Applicant (including project partner/s) co-contribution

Applicants are required to make co-contribution ($1:$1) to the total project cost. For every $1 grant request, the applicant needs to contribute $1. The applicant co-contribution can be cash or in-kind.

Project costs

Projected expenditure items should reflect actual project costs. Evidence of costs (e.g. tax invoice(s), financial statement or other evidence as agreed with SV will be required for delivering the SV funding agreement.