The Innovation Vouchers Program (IVP) is an initiative of the State Government’s New Industries Fund, which aims to enable SMEs to develop greater opportunities to commercialise their ideas and innovations and expand to create jobs. The IVP program was reviewed in early 2018, and changes to the objectives and assessment criteria were made to ensure the focus was on the creation and growth of WA jobs.
The IVP is a competitive grant program to assist small to medium enterprises (SMEs) get a step closer to commercialising their innovations by developing collaborative relationships with research providers and specialist commercialisation support services.
Applications open: 9am Wednesday 28 February 2018
Applications close: 11am Wednesday 28 March 2018
Funding will be available to successful applicants from 1 July 2018.
For program details including how to apply visit http://www.newindustries.wa.gov.au/opportunity/innovation-vouchers
In accordance with the New Industries Fund, the objectives of the IVP are to:
- Stimulate the WA SME sector through the support of innovation initiatives;
- Decrease the commercialisation gap;
- Activate industry-government-research collaborations;
- Increase research and development (R&D) investment into WA; and
- Promote job creation and economic diversification in WA.
The purpose of the IVP is to:
- Assist in the development of new or enhanced commercially-ready products or services;
- Establish prototypes, processes or systems to attract additional investment;
- Address a particular technical problem that cannot be solved by the applicant, or for which the solution is not readily available.
Level of funding support
The level of funding support available under the IVP is up to a maximum of $20,000 per application over 12 months. Recipients will need to provide a net cash co-investment of matched funds at a rate no less than 20:80 of applicant to State Government funding.
Where funding is allocated it will be on a competitive basis to those applicants clearly demonstrating that they meet the evaluation criteria.
State Government funding provided under the IVP is intended to support SMEs to access professional skills, services or knowledge that will enable these entities to advance an innovation or commercialisation activity in Western Australia. Collaboration with research/academia is encouraged.
For enquiries regarding the program contact the Program Manager via email at email@example.com.
Guidelines For Applicants
Frequently Asked Questions