The Food Innovation Voucher Stream is a new $50k voucher initiative of the Victorian Government that helps companies access the know-how needed to innovate, diversify, improve productivity and take new and innovative products to market.
The vouchers and associated Food Innovation Network will deliver on the Victorian Food and Fibre Sector strategy.
Round 1 closes on Friday 2nd March 2018
What grants or funding is available?
- Up to $10,000 for early stage feasibility and testing.
- Up to $50,000 for process innovation, product development and research and development.
Eligible Applicants are permitted to apply for one voucher per funding round.
Vouchers are capped at a maximum value of $50,000 (exclusive of GST). For example, if the total cost of services is $125,000, the voucher will cover $50,000 which is the maximum and capped voucher amount. The remaining $75,000 must be covered by the Applicant.
The Food Innovation Vouchers provide funding that can be used to access facilities, services, advice or expertise from approved service providers to help manufacturing businesses innovate, diversify, improve productivity and take products to market. The funding cannot be used for business-as-usual activities.
What are the eligibility criteria?
Applicants must meet the following criteria to be eligible for assistance under the program:
- be a business registered in Victoria with an Australian Business Number (ABN);
- meet any co-contribution requirements with eligible cash expenditure;
- be a legal entity;
- meet all industrial relations obligations as an employer in accordance with the National Employment Standards;
- have an operating presence in Victoria;
- employ between 20-200 staff or have an annual turnover of greater than $1.5 million (preference will be given to Applicants that employ less than 200 people);
- conduct the majority of proposed activities in Victoria in partnership with an approved Service Provider; and
- agree to participate in future program evaluation activity.
- be a legal entity engaged in the food value chain* – or a genuine commercial connection to the food value chain – and a member of the Victorian Food Innovation Network.
*For the purposes of this program, ‘food value chain’ includes agriculture (excluding forestry and fishing) and food and beverage manufacturing.
THE FOLLOWING ARE NOT ELIGIBLE TO APPLY:
- Individuals, partnerships, or trusts, however an incorporated trustee canapply on behalf of a trust provided that the State is satisfied that the incorporated trustee will remain sufficiently liable for the performance or any agreement it signs;
- Commonwealth, State and Local Government agency or body;
- Publically funded research institutions;
- Industry Associations;
- Not-for-profit organisations; and
- Community-based organisations.
What is the assessment criteria?
Applicants will be required to submit an application online in conjunction with a quotation (including a detailed Scope of Services) provided by a Service Provider such as Treadstone.
All questions in the application need to be completed to proceed to assessment.
A Departmental assessment panel will assess all voucher applications against the following assessment criteria and scoring:
- 30% – Extent to which the project, funded by the voucher, has the potential to benefit the company in the long term (e.g job growth, access to new markets, improved productivity).
- 30& – Extent to which the proposed project will deliver on and/or aligns with the Voucher Stream objectives. The main objectives of the Food Innovation Voucher Stream are:
- foster industry engagement and collaboration between R&D providers and businesses;
- increase commercialisation rates of research through development of innovative products, packaging and processes in growth oriented SMEs;
- improve productivity levels by shifting the food sector’s focus and culture from reactive to proactive, and from survival to competitive and disruptive; and
- reduce the barriers and challenges faced by businesses which are limiting the level of investment in disruptive innovation.
- 20% – Demonstrated capacity or capability to successfully implement the project or project findings.
- 20% – The need for Government support for the project to proceed.
More information can be found in Boost Your Business Vouchers Program Guidelines.
How do I apply?
SMEs must first obtain a quote from a Registered Service Provider then submit an application with the RSP proposal.
Apply here: Food Innovation Voucher Application
Want to get the best possible result?
Don’t wait till it’s too late. Treadstone can advise you the best way to apply for your Boost Your Business Voucher.
Working with Treadstone means you get the maximum grant with minimum risk and effort. We provide expert advice and take care of your application, allowing you to continue to focus on your essential business operations.
Treadstone is an experienced, outcome focused team with a proven track record of success since 2008; recently securing three $1m+ grants for our clients.
To ensure you have the best chance of getting grant funding contact us or call 03 9008 5937.