Eligible SMEs can obtain up to $20,000 funding through WA State Government’s Innovation Vouchers Program (IVP) 2015. Funds from the IVP must be matched at a rate no less than 20:80 of applicant to State Government funding.
The IVP aims at providing a financial boost for businesses to access professional skills, services and knowledge. The funding can be used for:
- research and development e.g. technical development and compliance testing
- product development e.g. engineering design work
- technology transfer and intellectual property (IP) e.g. protection of IP such as patents and designs, legal advice and licensing
- commercialisation support services e.g. innovation management and consulting
The IVP has a simple one step process requiring eligible SMEs to submit a written application.
The applicant needs to explain what their idea/innovation is and how it addresses a need/market issue and a market gap.
Also, the applicant needs to show how the State Government funds will be used to progress the idea/innovation. Quotation(s) from service provider(s) are required with the application. Please contact Watermark for quotations to protect IP including Patents, Trade marks, Designs, in Australia and overseas. Watermark can also provide quotations on providing legal advice on technology transfer, licensing and other IP related matters.
The applicant should have the capacity and capability to advance their innovation. Furthermore, the applicant should be financially viable entity which is able to support its own operating objectives and goals for a period of one year from IVP funding.
The project for which funding is sought should seek to create some real impact. This could be in terms of:
- delivering tangible benefits to the industry and other end-users
- generating economic, social, environmental benefits in WA
- increasing innovation in WA
- having the potential to bring investment to WA
The proposed innovation should have a competitive advantage in the marketplace.
Eligible applicants will:
- be a WA based SME that employs less than 200 people
- have an ABN/ACN
- have evidence of a net cash co-investment of matched funds
- not have received, nor is likely to receive, other Department of Commerce funding for the same project/initiative
Applications must be submitted by 3pm, 27 February 2015, and applicants will be notified in May 2015 whether their application is successful. It is advised that eligible applicants should contact Commercialisation Advisors at the Innovation Centre of WA for assistance in filling their application. They can be contacted by telephone (08) 9451 0810 or via email email@example.com.
For more information and to download the application form, please visit the IVP website.