Boost Your Business Voucher Program (Overview)Overview
This program aims to support Victorian businesses to become more productive, employ more people, improve market access and in general, increase their scale, diversity and profitability.
The objectives of the program 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.
There are six streams of funding available:
- Advanced Victorian Manufacturing Stream: Up to $50,000
- Asia Gateway Stream: Up to $50,000
- Food Innovation Stream: Up to $50,000 (Up to $10,000 for early stage feasibility and testing vouchers)
- Social Enterprise Capability Stream: Up to $25,000
- Defence, Aerospace and Security Voucher Stream: Up to $50,000
- Victoria Israel Innovation Voucher Stream: Up to $50,000
Eligible applicants are permitted to apply for one voucher per funding round. They can receive more than one voucher and a maximum of two, dependent on available funding and the directions as set within each voucher stream.
Vouchers will be provided on a cash co-contribution basis outlined as:
- Applicants contribute a minimum of 50% of the total costs of services.
- Vouchers will subsidise 50% of the services to a maximum of $50,000 (i.e. $1 for every $1 awarded through the voucher).
Funds from other State and Commonwealth government programs cannot form part of the co-contribution.
Eligible applicants must:
- 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.
- Agree to participate in future program evaluation activity.
Please refer to the Guidelines for the complete eligibility requirements.
Eligible activities include those that will build 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.
Please refer to the Guidelines for the complete list of eligible/ineligible activities/expenditures.
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%)