New year, new you, new boost for your business?
 
From 29 January 2018, businesses across Victoria can apply for up to $50,000 through a range of vouchers to develop new products, access export markets, and improve productivity.

The vouchers will be available under four different streams: Advanced Victorian Manufacturing, Food Innovation, Social Enterprise Capability and Asia Gateway.
 

At a glance

Potential assistance
  • Up to $10,000 for early stage feasibility and testing
  • Up to $50,000 for process innovation, product development and research and development

 Eligibility

Applicants must meet the following criteria to be eligible for assistance under the program:

a)    Be a business registered in Victoria with an Australian Business Number (ABN);
b)    Meet any co-contribution requirements with eligible cash expenditure;
c)    Be a legal entity;
d)    Meet all industrial relations obligations as an employer in accordance with the National
       Employment Standards;
e)    Have an operating presence in Victoria;
f)     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);
g)    Conduct the majority of proposed activities in Victoria in partnership with an approved Service
       Provider; and
h)    Agree to participate in future program evaluation activity.
 

Applicants should refer to each program guidelines for specific program eligibility criteria.

Overview

The three overarching objectives of Boost Your Business Vouchers are to:

•    Increase the number of Victorian businesses entering new export markets and securing supply chain opportunities;
•    Increase the number of Victorian Businesses developing and commercialising new products and services through research and development and generating  improved productivity through process innovation;
•    Improve the capability of Victorian businesses to accelerate growth and realise new opportunities.

In the longer term, the Boost Your Business Vouchers will help grow the Victorian economy by supporting the following outcomes:

•    Victorian businesses are inventive, responsive and diverse, with increased levels of business innovation and business diversification;
•    Victoria creates and diffuses knowledge through research, collaboration and commercialisation, leading to increased R&D spending and  economic return from research and innovation;
•    Victoria is a desired source of exports and a destination for foreign investment;
•    Victoria’s business environment is competitive and provides confidence, including through increased  market access;
•    Victorians are adaptive, knowledgeable and entrepreneurial, leading to increased knowledge and skills and extended entrepreneurship.

What you get

Vouchers are used by Victorian businesses or organisations in exchange for services that will build their capabilities in three main areas:
  • Market Engagement – services to assist companies and organisations to identify and secure international market development and export opportunities.
  • Innovation – services to assist companies to develop or commercialise new products and improve process innovation.
  • Business Capability – services to assist companies to position them to support future growth.
These services will be provided to Victorian SMEs under one or more of the following voucher streams:

Tips and hints

SMEs must obtain a quote from a Registered Service Provider. A list of Registered Service Providers for each voucher stream will be published in the week of Monday 15 January 2018. 

How to apply

Applications will be considered in rounds. 

The first round will open on Monday 29 January 2018 and close on Friday 2 March 2018.
 
 

Asia Gateway Voucher Stream

Closes in 71 days

The Asia Gateway Voucher Stream helps Victorian businesses and organisations develop the capabilities and connections they need to access and expand into Asian markets.

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Social Enterprise Capability Voucher Stream

Closes in 71 days

Supporting Victorian Social Enterprises to build and develop their business capabilities

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Advanced Manfacturing Voucher Stream

Closes in 71 days

The Advanced Manufacturing Voucher stream provides up to a total of $6 million available to help Victorian manufacturers innovate, build scale and grow export capability. Application are open from 29 Jan 2018, to 2 March 2018.

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Food Innovation Voucher Stream

Closes in 71 days

The Food Innovation Voucher Stream is a 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.

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