OzScientific Pty Ltd has been approved as an R&D service provider Food Innovation Voucher Program. This means project up to $100,000 can be funded 1:1 by a Food Innovation Voucher (projects up to $10,000 for initial feasibility/assessment do not require co-contribution).
The Department of Economic Development, Jobs, Transport & Resources (DEDJTR) has established Boost Your Business Vouchers to support Victorian businesses to become more productive, employ more people, improve market access and in general, increase their scale, diversity and profitability.
The three overarching objectives of Boost Your Business Vouchers 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.
In the longer term, the Boost Your Business Vouchers will help grow the Victorian economy by supporting the following outcomes:
• Victorian businesses are inventive, responsive and diverse, with increased levels of business innovation and business diversification;
• Victoria creates and diffuses knowledge through research, collaboration and commercialisation, leading to increased R&D spending and economic return from research and innovation;
• Victoria is a desired source of exports and a destination for foreign investment;
• Victoria’s business environment is competitive and provides confidence, including through increased market access;
• Victorians are adaptive, knowledgeable and entrepreneurial, leading to increased knowledge and skills and extended entrepreneurship
The applicant business must:
- be a registered business in Victoria with an Australian Business Number (ABN)
- be a legal entity engaged in the food value chain* – or a genuine commercial connection to the food value chain – and a member of the Victorian Food Innovation Network External link (opens in same window).
- meet industrial relations obligations in accordance with the National Employment Standards
- operate in Victoria
- employ 20 to 200 staff or has an annual turnover of more than $1.5 million
- co-contribute cash expenditure (or in-kind for early stage feasibility)
- conduct majority of proposed activities in Victoria in partnership with approved Service Provider
- participate in future program evaluation.
*For the purposes of this program, ‘food value chain’ includes agriculture (excluding forestry and fishing) and food and beverage manufacturing.
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