Callaghan provide companies with grants that as you say become a reimbursement of costs actually incurred for R&D spend or against specific projects.
Powerhouse is an approved Tech Incubator. These have been provided with funding from Callaghan to cover somoe of their operational costs, they can also get up to $35k to vet new projects. If the projects carry on that $35k is turned into a loan to the company along with up to a further $415k ($450k in total). This is subject to equity investment of $150k.
The loan is repayable from memory at 3% of revenues and incurrs a 3% interest cost. When Callaghan pulled the pin on funding PVL I believe it related to the operational costs and not the loans.
I am not sure if the companies are allowed to also apply for grant funding on top of the loans. I would hope not but Callaghan Innovation lack any commercial creds so they might well be able to.
The joys of grant funding - there are pockets of money all over the place it is just understanding how to get it.
PVL Price at posting:
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