Driving Business Innovation
Driving Business Innovation is now open, inviting Victorian Government agencies to describe their technology needs in the form of a Technology Challenge.
Applications will close on Monday 25 November 2013 for Technology Challenges.
Building on the pilot Market Validation Program (MVP), Driving Business Innovation is a competitive grants program that encourages innovation in Government by supporting the pre-commercial development of cutting edge products, processes or services by small to medium enterprises (SMEs) working in partnership with Victorian Government agencies.
Driving Business Innovation is a new $16 million Victorian Government program that supports Victorian businesses to develop new products and services for government customers.
The program will match dynamic Victorian small to medium enterprises (SMEs) with Victorian Government agencies to develop technology solutions for public sector service delivery challenges.
This is a new program that builds on the Victorian Government’s $28 million Market Validation Program, which has supported 32 innovative projects partnering businesses and government agencies, over four years.
The program offers participating Victorian SMEs the opportunity to develop and test a new marketable product or service. Participating Victorian Government agencies will be able to utilise the new technology to improve their service delivery.
Technology Challenges will be released to the market for proposals from eligible SMEs in early 2014.
Driving Business Innovation involves a staged approach to the development of a solution to a technology need identified by a Victorian government agency.
At the Technology Challenge stage Victorian government agencies identify a particular challenge to the delivery of their products or services.
These Technology Challenges are then released to the market through a Call for Proposal inviting the SME market to propose new technology solutions to the government challenges.
Selected SMEs receive a grant up to $75,000 to undertake a Feasibility Study into their proposed solution over three months.
-Proof of Concept
Feasibility Study reports are then assessed for further funding of up to $1 million to undertake research and development to Proof of Concept stage over 18 months. The Proof of Concept project leads to a working demonstration of the developed product in the government agency’s environment.
Following delivery of their Proof of Concept report, SMEs will be invited to submit a Business Plan to be assessed for the Market Ready stage, providing further funding of up to $500,000 (matched) to undertake activities aimed at bringing their developed solution to market.
Eligible participants will partner to develop the proposed solution in response to the Victorian Government agency technology challenge. These partnerships provide opportunities for government and SMEs to collaborate on research and development projects.
Victorian Government agency
Eligible Victorian Government agencies are those listed in the Victorian Department of Treasury and Finance Financial Report for the relevant financial year. http://www.dtf.vic.gov.au/Publications/Victoria-Economy-publications/Financial-statements (Controlled entities 2013-14)
Small to Medium Enterprise (SME)
Eligible SMEs are those that meet the following criteria.
- be registered in Victoria or carry out more than 50 per cent of their business activity in Victoria (based on proportion of FTE located in Victoria)
- be a non tax-exempt company incorporated in Australia under the Corporations Act 2001, with at least 51 per cent of the applicant’s current business activities, employees or assets residing within Australia
- have a combined turnover (including each related body corporate) of less than $50 million for each of the three financial years prior to lodgement of the application
- employ fewer than 200 employees
- have access to, or the beneficial use of, any intellectual property necessary to carry out the project
- undertake not less than 80 per cent of the R&D work in Victoria for the duration of the program
- have the Principal Investigator based in Victoria for the duration of Proof of Concept project
For more information about this progrma download the guidelines –
-Driving Business Innovation Progam Guidelines (PDF 2204.51 KB)
For more information about how Treadstone can assist with your grant application, call us on 03 9008 9537.