Applications Open for Victoria's Technology Adoption and Innovation Program
The Victorian Government is launching the $5 million Technology Adoption and Innovation Program to provide support to eligible Victorian small to medium size enterprises (SMEs) to on-board innovative technologies or develop innovative, new and commercial technology projects.
The program contains two streams of financial assistance outlined below:
- Stream 1 – SME technology and digital adoption: Grants of up to $50,000 for Victorian SMEs to adopt technology or digital solutions to improve their processes and productivity and support their future growth. These projects will be delivered with a specialised provider that will partner with the SME to deliver products or services within the SME.
- Stream 2 – Innovative, commercial technology development: Grants of up to $50,000 for Victorian technology companies to implement defined projects to develop commercial technology or digital products
Under both Streams each successful SME will be required to co-contribute a minimum of $20,000 (GST exclusive) towards eligible project expenditure. A 1:1 cash co-contribution is required (between the SME and government up to the maximum grant amount. Applications are open now and will close at 11.59pm on 19 April 2021.