Funding To Undertake A Proof Of Concept Project Announced

Funding To Undertake A Proof Of Concept Project Announced

Victoria Minister for Innovation Services and Small Business Louise Asher

Coalition Announces $9 Million Funding To Help Drive SME Innovation

Victor P Taffa

Minister for Innovation, Services and Small Business Louise Asher today announced funding of up to $9 Million for six businesses to undertake a Proof of Concept for their innovative ideas for working with the Victorian Government and its agencies.

The Smart Small and Medium Enterprises Market Validation Program (Smart SMEs MVP) is a $28 Million competitive grants program that seeks to engage with both government and business to promote innovation. As part of round two, announced today, each of the projects will receive up to $1.5 Million to undertake a Proof of Concept project over the next two years.

Ms. Asher said the program assists small and medium businesses to develop innovative products, processes and services that meet the future technology needs of Victorian Government agencies, and have the potential to find wider markets for participating businesses.

“The Victorian Coalition Government is committed to providing opportunities for our local businesses to work with government to develop innovative solutions to improve government service delivery for Victorians.” Ms. Asher said.

“This round of funding will enable businesses to develop new projects that have the potential to result in greater productivity with more efficient and effective ways of doing things.”

“The program targets the procuring power of government as a basis to stimulate and create a capacity for small businesses to innovate.”

Round two supports Proof of Concept projects from technology areas such as medical devices, material science, pharmacogenomics, fibre optics and telemedicine and will lead to a working demonstration of a technology solution developed between the successful SMEs and Victorian Government agencies.

As part of the Smart SMEs MVP round two:

  • Osprey Medical will work with Melbourne Health to develop an antibiotic delivery system to manage diabetes related foot disease;
  • Genes FX will work with Melbourne Health to develop an innovative drug safety system to reduce adverse reactions;
  • Hawk Measurement will work with Melbourne Water to develop innovative fibre optic solutions for water pipelines;
  •  APS Innovations will work with the Royal Children’s Hospital to develop a specialised infant feeding teat for both healthy and difficult feeders;
  • Ingeneus will work with the Royal Victorian Eye & Ear Hospital to develop a portable slit lamp for use in the treatment of glaucoma;
  • Alcidion will work with Western Health to develop an innovative software platform for management of patient stays in hospitals.

These six projects build on the nine round one Smart SMEs MVP Proof of Concept projects already underway, developing solutions in renewable energy, health, transport and environment.