Boosting Business Innovation Program

Key information

The NSW Government has committed $11 million over four years to selected Publicly Funded Research Organisations (PFROs) to develop activities that enable better translation of world-class research into business performance. A third of the program’s funding is reserved for the TechVouchers Scheme.

SMEs are encouraged to reach out directly to a participating Research Organisation to discuss the Program opportunities via the contacts below.

Program objective

The objective of the Program is to support productivity improvement and business growth through the translation of knowledge and inventions to new products and services.

The Program targets three main outcomes:

1. Increase collaboration between researchers in PFROs and SMEs through funding support for activities that build connections.
2. Develop innovation and entrepreneurship skills and capacity for knowledge translation for business-owners, SME employees, as well as researchers, university staff, and students.
3. Support commercialisation processes for university research and innovative SMEs.

TechVoucher Scheme

$3.85 million in TechVoucher grant funding is available to fund collaborative research projects between SMEs and researchers, with approved projects awarded 50% of the total eligible project costs in match-funding, up to a maximum of $50,000.

How it works

Who can apply

To be eligible, your business must:

• have an ABN registered in NSW and be based in NSW
• employ fewer than 200 employees, as defined by the Australian Bureau of Statistics, at the time of application
• not be a subsidiary of a revenue generating business locally or overseas. If part of a group, the parent company or entity must apply on behalf of the consolidated entity and meet all eligibility requirements
• not be owned, employ, or have any financial ties of any kind with any of the proposed researchers for the project
• have the rights to commercialise their products or services and/or do not infringe on existing protected IP
• demonstrate adequate matched funding (no in-kind) has been secured for the project
• not be receiving any other grant or subsidy for the same project from a State Government or Commonwealth agency or department
• work in industry sectors or technologies identified in the NSW Industry Development Framework.

Types of projects funded

To be eligible for TechVouchers funding, projects must:

• start within three months of submission for validation and approval to DEIT and completed within twelve months from the start
• incur active collaboration between an eligible business and one of the PFROs delivering TechVouchers
• have a defined commercialisation outcome.

Learn more about the application processExternal Link

Resources

• Boosting Business Innovation Program GuidelinesDownload File

Support and contact

If you have any questions regarding this program, please contact one of the participating Research Organisations, who will be able to advise you on their activities, the most relevant partner for your needs, and the suitability of your project with the program.