Business Events Bid Fund Program is a special program of Business Events Australia, an arm of Tourism Australia. The main purpose of this program is to increase the chances of international events taking place in Australia by providing financial support to those who are bidding for business events to take place in the country. It helps in situations where Australia is pitted against other countries for a chance to host a particular business event in the coming years. The provision of financial support at crucial stages of bidding helps bidders in winning the chances to host the business event in Australia.
Business Events Bid Funds Program was launched in July 2018. In a short period of just two years, BFP has been able to win 33 business events in Australia. Together, these 33 events have added $289 million to the economy of the country.
Criteria for choosing applications
- Applications submitted for financial help under Business Bid Fund are scrutinized to see whether they align with the overall objectives of the program or not.
- Assessors see if the business event in questions brings desired economic value to Australian economy or not
- Does the event increase chance of winning the bid or not?
- Does the proposed event have the potential to bring international guests in large numbers or not
Who is eligible to apply for help under Business Funds Program?
Business Funds Program has been specially created to help people in bringing international business events to Australia through the process of bidding. Every year, lots of international business trips, congresses and conferences are organized in different parts of the globe with host countries winning the chance through bidding. All organizations, business entities, and individuals that are involved with the bidding process and trying to bring the business event to Australia are eligible for applying for financial help under this program.
It is an ongoing program!
If you are excited to learn about financial help in attracting international business events to Australia but don’t know when to apply for help under Business Bid Fund, you would be happy to know that there is no time limit for sending your applications. Business Events Australia realises that bidding for international events is an ongoing process. As such, bidders can apply for financial help under Business Bid Program at any time they want.
How are the funds from Business Fund Program Utilised?
The Business Fund Program provides financial assistance for expenditure on goods and services to strengthen the chances of winning the bid for hosting the event in Australia. However, it should be kept in mind that it does not subsidise the expenses incurred on logistics or the marketing and administrative costs bidding. The main aim behind providing financial support is to help the bidder win the chance to host the business event in Australia.
If you want to find out more information related to this program, please speak to one of our advisors at the number mentioned below.