Boost Your Business Voucher Program – Victoria Israel Innovation VoucherOverview
This program seeks to support Victorian businesses develop their innovative technology products with Israeli business partners and for the Israel market. It helps business develop new products, processes and services, to introduce new products or processes into their businesses, and to enter new export markets and secure export opportunities.
The program forms part of the Victorian Government's Boost Your Business Program, which support Victorian businesses to become more productive, employ more people, improve market access and in general, increase their scale, diversity and profitability.
There are two types of vouchers available:
- Market engagement
Assistance of up to $50,000 is available. 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.
Applicants may be permitted to receive a maximum of two Vouchers over the course of the program.
Eligible applicants must meet the following criteria:
- Are a business registered in Victoria with an Australian Business Number (ABN).
- Meet any co-contribution requirements with eligible cash expenditure.
- Meet all industrial relations obligations as an employer in accordance with the National Employment Standards.
- Have an operating presence in Victoria.
- Conduct the majority of proposed activities in Victoria in partnership with a Registered Service Provider (for service activities that specifically relate to international or in-market support, it is understood that these activities may occur outside of Victoria).
- Agree to participate in future program evaluation activity.
Commonwealth, State and local government agencies and bodies are not eligible to apply.
Please refer to the Guidelines for the complete information on eligibility requirements.
Eligible projects include those that will:
- Support the development of new or improved products and services.
- Increase the number of Victorian companies entering new export markets.
Please refer to the Guidelines for the list of eligible/ineligible expenditure.
The main assessment criteria include:
- The extent to which the proposed project and identified service activities support one or more of the Voucher Stream objectives as described in the relevant Voucher Stream Appendix. (30%)
- The 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%)
- The 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%)