A new round of Government grants is available for Victorian companies to turn their innovative ideas into commercial products under the joint fund agreement between the State of Victoria and Israel.
Innovation Minister Gavin Jennings has opened the seventh round of funding for the Victoria–Israel Science and Technology R&D Fund (VISTECH) which provides matching government grants of up to US $500,000. VISTECH was launched in 2006 with Victoria and Israel each providing half of the US$6 million fund.
To date VISTECH has awarded almost A$2 million to Victorian companies supporting eight projects worth around A$7.8 million.
The Victoria-Israel Science and Technology R&D Fund (VISTECH) was established in 2005 to promote, facilitate and support jointly approved science and technology research and development (R&D) projects.
With a sophisticated research base to draw on in each state, Australian companies based in the state of Victoria and Israeli companies are well suited to form productive partnerships in areas such as Biotechnology, Nanotechnology, Water, Environment, Synchrotron and Information Communications & Technology (ICT).
VISTECH is involved in four broad complementary activities:
- promoting and marketing the benefits of joint market oriented Victorian-Israeli R&D collaboration
- matching companies in one state seeking a partner in the other
- facilitating the identification of specific projects or collaborations between Victorian and Israeli companies that could lead to R&D cooperation
- supporting projects by contributing up to 50% of the joint eligible R&D costs – up to a maximum of US$500,000.
To find out more about how Treadstone can help you win Government Grants call us now on (03) 9016 3575.