Program Overview
The $6.1 million Technology Adoption and Innovation Program aims to provide support to eligible Victorian small to medium size enterprises (SMEs) to on-board innovative technologies or develop innovative, new and commercial technology by co-contributingfunding support for projects.
Frequently asked questions (FAQs)
Read the full list of FAQs.
Applications closed on 19 April 2021.
Program details
The program contains two streams of financial assistance:
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.
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.
The indicative key dates for this scheme are:
- Applications open: 31 March 2021
- Applications close: 19 April 2021
- Program reporting: 4 months, 8 months, 12 months
- Program end: 30 June 2022
Under both Streams each successful SME will be required to contribute a minimum of $20,000 (GST exclusive) towards eligible project expenditure.
Both Streams will provide grants on a 1:1 co-fund basis between the company and government respectively.
Who can apply for a grant?
The program is open to SMEs that are on a growth trajectory.
These eligible SMEs can be a company, a trust structure or a partnership.
The following are not eligible to apply:
- Commonwealth, state and local government agencies or bodies
- publicly funded research institutions
- industry associations or business chambers
- not-for-profit organisations
- community-based organisations.
Eligibility criteria
Eligible SMEs must meet the following criteria to be eligible for assistance under the program:
- be an eligible legal entity
- operate a business located within Victoria; and
- hold an Australian Business Number (ABN) and have held that ABN at 1 September 2020; and
- be registered for Goods and Services Tax (GST) on 1 September 2020; and
- employ at least 5 FTE (full-time equivalent) staff at 1 September 2020 (preference will be given to Applicants that employ less than 200
- people); and
- attest that they:
- can contribute a minimum of $20,000 (GST exclusive) towards eligible project expenditure and match any grant funding on a 1:1 fund basis; and
- have met all industrial relations obligations as an employer in accordance with the National Employment Standards; and
- will participate in future program evaluation activity; and
- if applying for Stream 2 funding, demonstrate that its main business model applies to the provision of technology products or services; and
- only apply for funding under either Stream 1 or Stream 2, not both.
An Incorporated Trustee can apply on behalf of a Trust provided that the Trustee will remain sufficiently liable for the performance of any agreement it signs.
The individual partners may apply on behalf of a Partnership provided that the Partners will remain sufficiently liable for the performance of any agreement they sign.
An applicant is only eligible for one grant under the Program.
Funds from other State or Commonwealth Government programs cannot form part of the co-contribution.
How much are the grants from this program?
Grants provided through the program range between a minimum $20,000 and a maximum $50,000.
Grants will be provided on a co-contribution basis at a ratio of 1:1 for applicant cash contributions and government funding.
Under both Streams each successful SME will be required to contribute a minimum of $20,000 (GST exclusive) towards eligible project expenditure.
If applying for Stream 2 funding, the SME must also demonstrate that its main business model applies to the provision of technology products or services.
What can the grants be used for?
The two objectives of theTechnology Adoption and Innovation Program are to:
- enable Victorian SMEs to invest in their business to implement new digital and innovative technologies that will improve their business productivity and competitiveness. This may include adopting new technologies and solutions such as ecommerce, artificial intelligence, data analytics, cyber security, Internet of Things or robotics in their business practices and operations; enabling them to contribute to Victoria’s economic recovery.
- support Victorian SMEs involved in technology development to further develop innovative, new, and commercial technology products and services, enabling them to contribute to Victoria’s economic recovery.
Eligible project expenditure must be project-related non-capital expenditure required to deliver the project and the project-related costs (including service providers).
Applicants will need to meet the cost of additional and ineligible expenditure that are outside the scope of the Grant Project.
Applying Victorian companies must be investing in their business operations to help meet the above program objectives.
Applicants will be asked in their application to make a case for how the project will support the program's objectives and show how the use of the grant funds will facilitate the project’s outcomes.
Expenditure should not include activities or projects already supported by government funding.
Funds from other State or Commonwealth Government programs cannot form part of the co-contribution.
How to apply
Applications closed on 19April 2021.
Documentation or evidence required with an application
Applicants must provide all of the following:
- a current project plan
- a project budget
- any relevant quotes or scopes of services for preferred Service Provider(s).
Applicants must provide evidence which demonstrates, to the satisfaction of the Department, that the Applicant has sufficient funds available for the required co-contribution amount for the project. This may include evidence of:
- written confirmation from the Board or business owner that the business can undertake the project and meet the required co-contribution amount, or
- an approved loan facility (including loan amount), or
- sufficient cash in a bank (current bank statement), or
- management accounts demonstrating satisfactory cash flow or liquid assets.
Applicants will be required to submit a project plan as part of their application, which includes at a minimum:
- project description
- preferred service provider(s), where applicable
- overview of the implementation timeline
- evidence of sufficient internal resources to allocate to the project
- budget summary (detailing how grant funds and the Applicant’s contribution will be spent on eligible project expenditure).
- quotations and, if relevant, Scopes of Services for any proposed third-party service providers and/or suppliers.
The Department of Jobs, Precincts and Regions (the Department) reserves the right to withdraw the offer of grant funding if applicants have not returned the signed grant agreement two weeks from the date it is sent by the department by email.
Projects are to commence within one month of the execution of the grant agreement by the department and are expected to be completed within twelve months.
Assessing your application
Eligible applications within both Streams of funding will be assessed on how well they meet the assessment criteria. All supplementary attachments and information provided as part of the application will be taken into consideration during the assessment process.
Companies seeking support for technology development will have up to 12 months to deliver and complete their project.
Applications will be assessed by a panel. The panel will:
- review and score applications individually against the assessment criteria
- rank all projects against each other
- determine the number of applications that will be recommended subject to funding being available
- recommend the applications for approval.
We will endeavour to process and notify applicants of the outcome of their application within one month of the program close date.
More information
Please refer to the frequently asked questions (FAQs) for any questions you may have about this program.
For further assistance please contact us or call the Business Victoria hotline on 13 22 15.
Frequently asked questions (FAQs)
Read the full list of FAQs.
