Boost Your Business Vouchers - supporting Victorian businesses!

BOOST YOUR BUSINESS

PROGRAM OVERVIEW

Vouchers to support Victorian businesses to become more productive, employ more people, improve market access and in general, increase their scale, diversity and profitability.

Round 3 of Boost Your Business is now open and closes at 11.59pm on Sunday 12 May 2019.

The three overarching objectives of Boost Your Business Vouchers are to:

  • increase the number of Victorian businesses entering new export markets and securing supply chain opportunities
  • increase the number of Victorian Businesses developing and commercialising new products and services through research and development and generating  improved productivity through process innovation
  • improve the capability of Victorian businesses to accelerate growth and realise new opportunities.

In the longer term, the Boost Your Business Vouchers will help grow the Victorian economy by supporting the following outcomes:

  • Victorian businesses are inventive, responsive and diverse, with increased levels of business innovation and business diversification
  • Victoria creates and diffuses knowledge through research, collaboration and commercialisation, leading to increased spending and economic return from research and innovation
  • Victoria is a desired source of exports and a destination for foreign investment
  • Victoria’s business environment is competitive and provides confidence, including through increased market access
  • Victorians are adaptive, knowledgeable and entrepreneurial, leading to increased knowledge and skills and extended entrepreneurship.

WHAT YOU GET

Vouchers are used by Victorian businesses or organisations in exchange for services that will build their capabilities in three main areas:

  • Market Engagement – services to assist companies and organisations to identify and secure international market development and export opportunities.
  • Innovation – services to assist companies to develop or commercialise new products and improve process innovation.
  • Business Capability – services to assist companies to position them to support future growth.

Potential Assistance

Each Voucher Recipient may be able to receive up to:

  • $50,000 under the Advanced Victorian Manufacturing Stream
  • $50,000 under the Asia Gateway Stream
  • $50,000 under the Defence, Aerospace and Security Stream
  • $25,000 under the Entrepreneurs with Disability Stream
  • $50,000* under the Food Innovation Stream
  • *Up to $10,000 for early stage feasibility and testing vouchers
  • $25,000 under the Social Enterprise Capability Stream
  • $50,000 under the Victoria Israel Innovation Stream

Eligibility

Applicants must meet the following criteria to be eligible for assistance under the program:

a)  be a business registered in Victoria with an Australian Business Number (ABN)
b)  meet any co-contribution requirements with eligible cash expenditure
c)  be a legal entity
d)  meet all industrial relations obligations as an employer in accordance with the National Employment Standards
e)  have an operating presence in Victoria
f)  employ between 20-200 staff or have an annual turnover of greater than $1.5 million (preference will be given to Applicants that employ fewer than 200 people)†
g)  conduct the majority of proposed activities in Victoria in partnership with an approved Service Provider
h)  agree to participate in future program evaluation activity.

† Applicants should refer to the program guidelines for the specific program eligibility criteria. For example, the Social Enterprise Capability and Entrepreneur with Disability streams do not require a minimum annual turnover or employment of 20 or more staff.

MORE INFORMATION AND HOW TO APPLY