Boost Your Business Voucher Program – Food Innovation StreamOverview
This program aims to help companies access the know-how needed to innovate, diversify, improve productivity and take new and innovative products to market. It is one of the funding stream of the Victorian government's Boost Your Business Voucher Program which seeks to support businesses to become more productive, employ more people, improve market access and in general, increase their scale, diversity and profitability.
The objectives of this stream are to:
- 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.
- Support projects that align to Food and Fibre Sector-related government initiatives including the Healthy Choices Guidelines.
- Reduce the barriers and challenges faced by businesses which are limiting the level of investment in disruptive innovation.
Vouchers are available under the following categories:
- Early stage feasibility and testing: Up to $10,000 (GST exclusive). Do not require any cash co-contribution. However, there is an expectation that businesses will make an appropriate staff member available to work with the Registered Service Provider for up to ten hours.
- Innovation: Up to $50,000. Applicants must contribute a minimum of 50% of the total costs of services.
- Business capability: Up to $50,000. Applicants must contribute a minimum of 50% of the total costs of services.
Up to two vouchers are available to each recipient under this stream.
Eligible applicants include small to medium enterprise who must meet the general eligibility criteria as described in Section 3.1 of the Guidelines and in addition must:
- Become a member of the Victorian Food Innovation Network.
- Be currently engaged in the food value chain (this includes agriculture, food and beverage manufacturing and excludes forestry and fishing).
- Be able to demonstrate a genuine commercial connection to the food value chain.
Please refer to the Guidelines for the complete information on eligibility requirements.
Eligible service activities include:
- Process innovation
- Product development
- Early stage feasibility and testing
- Research and development
- Market positioning and labelling
- Prepare for and attract investment
The main assessment criteria include:
- Extent to which the proposed project and identified service activities support one or more of the voucher stream objectives. (30%)
- Extent to which the project, funded by the voucher, has the potential to benefit the company by reaching longer term outcomes (e.g new jobs, access to new markets and customers, new products and services and increased revenue). (30%)
- Demonstrated capacity or capability to successfully implement the project or project findings (e.g. track record of company and resources to be allocated to the project). (20%)
- The need for government support for the project to proceed. (20%)