The Innovation Voucher Program is a new initiative of the Victorian Government that supports companies wanting to explore ways of improving their competitiveness and productivity. It provides funding to help companies access the know-how needed to innovate. The program includes two vouchers: the Business Research and Development (R&D) Voucher and the Innovation Skills Voucher.
Ten Victorian companies were recently awarded Business R&D vouchers worth up to $25,000 each for a wide variety of projects.
The program supports companies at various stages of their product or development lifecycle, and encourages and stimulates further business collaboration and research partnerships. The program opens up a valuable funding source for small and medium sized companies wanting to access R&D expertise in Victoria.
The Business R&D vouchers provide a means for local and international companies to access a wealth of R&D knowledge and capacity available in Victoria. The vouchers can be used to access facilities, training, goods, services, advice or expertise provided by other companies or publicly funded research organisations (e.g. universities, CSIRO, research institutes). The vouchers can be used for a wide variety of intellectual property and intellectual asset management services Watermark provides, including IP searching and freedom to operate services.
The Innovation Voucher Program complements the highly successful Technology Voucher Program (formally known as the Small Technologies Industry Uptake Program (STIUP)), which is also available for some intellectual property and intellectual asset management services.
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