Victorian biotechnology companies: is your company eligible for Government support?
The Victorian Government provides several programs and funding assistance for Victorian-based companies and organisations looking to commercialise biotechnology in Victoria.
- The Collaborative Network’s Pilot Program
This program is for service providers and industry-led consortia interested in working with industry and the Government to build strategic partnerships to commercialise existing and emerging technologies and to accelerate the use of new technologies by Victorian companies, particularly SMEs.
- Smart SMEs Innovation Commercialisation Program (ICP)
ICP aims to assist Victorian micro and nanotechnology companies progress along the commercialisation pathway towards establishing global markets. The program is delivered through contracted partner organisations specialising in technology commercialisation, who provide a suite of targeted programs to assist SMEs to use and develop science and technology for export, growth and profit. The program focuses on building commercialisation skills and capabilities, facilitating access to finance and boosting the adoption of technology by industry.
- Small Technologies Industry Uptake Program (STIUP)
We are pleased to advise that Davies Collison Cave is an approved supplier for the STIUP program. Vouchers can therefore be redeemed for services that our firm provides.
STIUP is a $6.5 million Victorian Government initiative developed to give Victorian businesses the opportunity to increase their competitiveness by making use of small technologies (micro and nanotechnologies). The program aims to provide support through a voucher system (3 categories of (i) up to $10,000, (ii) up to $50,000, and (iii) up to $250,000)), whereby vouchers can be exchanged for access to facilities, goods, services, advice and expertise available in the small technologies sector.
- Smart SMEs Market Validation Program (MPV)
MPV is a $28 million competitive grants program that aims to support small to medium enterprises to develop innovative products, processes and/or services. The MPV targets the development of new technologies or the significant advancement of existing technologies.
In a recent seminar held at the Victorian Investment Centre in Melbourne, Mr Randall Straw, Deputy Secretary, Innovation and Technology, emphasised that the Victorian Government regards innovation as integral to the State’s future and an important contributor to the global market as it moves from a resource-based to a knowledge-based economy.
In an era where support and investment is scarce, particularly for early biotechnology start- ups, access to State Government programs and grants, together with Federal funding, is most welcome.
For more information on the Victorian Government programs and grants, please visit the Business Victoria website.