Business Acceleration Fund

The $54 million Business Acceleration Fund (BAF) is available to support vital projects that will streamline processes, promote digitisation and make it easier to start and grow a business in Victoria.

Additional funding now available for digital and regional reforms

The BAF has received an additional $14 million in funding, under the latest Economic Growth Statement announced on 10 November 2024, creating more opportunities for Victorian councils, departments and regulators to streamline processes and save businesses and workers time and money.

This funding includes:

• $10.5 million over 4 years for digital and AI projects.
• $3.5 million to support initiatives boosting Victoria’s regional economy.

The Digitisation and AI stream supports regulators aiming to digitise outdated processes, adopt AI for approvals, reduce red tape or implement a ‘tell-us-once’ model. Potential projects include creating digital concierge platforms, expanding reusable government services or digitising historic records.

Regional stream: Funding is available for proposals that enhance growth and productivity in regional Victoria. Examples include streamlining regulations for key regional industries like freight, food production or manufacturing, or digitising rural and regional council systems.

About the BAF

The BAF and its predecessor, the Regulation Reform Incentive Fund (RRIF), have already supported more than 130 game-changing projects across Victoria’s state and local governments and regulators.

These projects are already seeing many benefits for Victoria’s businesses, including:

• more targeted regulations
• faster licensing
• accessible and user-friendly application processes
• streamlined and digitised applications
• simplified pre-employment credential processes.

We encourage co-contributions, especially for larger projects.

Need inspiration? Here are some successful projects the BAF has funded:

• Set up a Resources Victoria Approvals Coordination role to significantly reduce approval times for construction projects.
• Remove the need for unnecessary food safety compliance programs for 30,000 low-risk businesses, so they can focus on customers and business development.
• Develop an online system that allows Victorians to apply for and display a digital Working with Children Check card on the Service Victoria app.
• Streamline annual liquor licence renewals for around 25,000 bars, restaurants and venues.
• Digitise health, hospitality and trader applications, so businesses can get their approvals faster.

View the list of projects funded through the RRIF and BAF.

Apply for funding

Applications for the next round close on 31 July 2025, but we’re always available to discuss your ideas and provide guidance on your application. Reach out to us anytime to explore how the BAF can support your proposal.

To apply:

1. Complete the 2023–27 Business Acceleration Fund Proposal below.
2. Submit the form to DTF at reg.reform@dtf.vic.gov.au.

We will contact you with any questions about your proposal.

We can also help you with your application, including idea testing and draft reviews. Email reg.reform@dtf.vic.gov.au to discuss your proposal.