SME Smart Ideas Program
SME Smart Ideas Program
The SME Smart Ideas Program provides support to Victorian SMEs and individuals with new ideas in the defence field. The Program is aimed at funding the validation of innovative concepts whose proof of concept could lead to a defined commercialisation path or suitability for support through an existing funding program (DIH, NGTF, Federal or State innovation grants, venture capital support etc.)
Applicants must meet the following criteria:
- Be a Victorian based SME (<200 employees with a turnover of <$50m) or be an applicant proposing to utilise a Victorian SME to undertake the validation service.
- The concept must be low TRL which the validation/proof of concept activity will clearly demonstrate a path to market or that the concept in its current form is not feasible to sustain.
- That the technology is unsuitable for support funding from another existing source because of the lack of data substantiating its performance, claims, efficiency or benefit over an existing technology.
- That there is an ability to support commercialisation within Australia (preferably Victoria) and the IP can be retained in country.
- Maximum grant value is $50,000 (ex gst). This will be paid on a (multiple) milestone basis subject to negotiation.