Market Validation Program - FAQ
Frequently Asked Questions |
How the MVP Works |
| What is the Smart SMEs - Market Validation Program (MVP)? |
| What are the stages of Smart SMEs MVP? |
| How can an SME or a public sector entity apply for the Smart SMEs MVP? |
| What are the benefits of the Smart SMEs MVP? |
| Who assesses the SME's proposals? |
| Can the SME request an extension beyond the Call for Proposal submission date? |
| Who retains the IP under the Smart SMEs MVP? |
Who is Involved? |
| Who are the Smart SMEs MVP stakeholders? |
| What is a Victorian Public Sector Entity? |
| What is an SME? |
| Who comes up with the technology needs that require a solution? |
Funding |
| How can an SME obtain funding under Smart SMEs MVP? |
| Can an SME seek funding for an innovative technology solution through the Smart SMEs MVP without a Victorian public sector entity requirement? |
| Can an SME apply for Proof of Concept funding without having competed for Feasibility Study funding? |
| What won’t be funded? |
| Will Smart SMEs MVP provide funds for commercialisation? |
Technology |
| What sort of technology will the Victorian public sector entities be looking for? |
Eligibility |
| What SMEs are eligible for the Smart SMEs MVP? |
| Does the SME have to be a Victorian registered company? |
| Can an overseas based SME compete for Smart SMEs MVP funding? |
| What public sector entities can be involved in the Smart SMEs MVP? |
| What is the Smart SMEs – Market Validation Program (MVP)? |
| The Smart SMEs Market Validation Program (MVP) is a $28 million competitive grants program that seeks to engage with both government and business to promote innovation. The pilot program aims to support Small to Medium Enterprises (SMEs) to develop innovative products, processes and services focussed on meeting the future technology needs of Victorian public sector entities. |
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| What are the stages of the Smart SMEs MVP? |
| The Smart SMEs MVP involves a three-stage process with the first stage identifying the specific technology needs of Victorian public sector entities. These technology requirements will then be released through a Call for Proposal to invite the SME market to propose new technology solutions to the identified need. Successful SMEs will receive a grant up to $100,000 to undertake a Feasibility Study over three months. These Feasibility Studies will then be assessed for further funding of up to $1.5m over two years to undertake R&D to Proof of Concept. |
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| How can an SME or a public sector entity apply for the Smart SMEs MVP? |
| Application forms and guidelines for the Technology Requirement Specification and Feasibility Study stages of the Smart SMEs MVP are available on the Multimedia Victoria website. |
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| What are the benefits of the Smart SMEs MVP? |
| The Smart SMEs MVP will deliver ongoing economic and intellectual benefits to Victoria by: |
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| Who assesses the SME's proposals? |
| DIIRD and the Victorian public sector entity will select a proposal to undertake a Feasibility Study that best meets the selection criteria. |
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| Can the SME request an extension beyond the Call for Proposal submission date? |
| No. All proposals must be submitted within the dates stipulated to ensure fairness in the process. |
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| Who retains the IP under the Smart SMEs MVP? |
| The SME will retain the IP to the technology solution developed through the Smart SMEs MVP. Licensing arrangements will be put in place through the funding agreement between the Victorian public sector entity and the SME to ensure the Government’s requirements in accessing and using the IP are satisfied. |
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| Who are the stakeholders in the Smart SMEs MVP? |
| Stakeholders in the Smart SMEs MVP include Victorian public sector entities, and SMEs who will provide the technology solution. |
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| What is a Victorian Public Sector Entity? |
| Victorian public sector entities are defined in the Victorian Department of Treasury and Finance 2007/08 Financial Report. |
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| What is an SME? |
| A Small to Medium Enterprise (SME) is an independent business often managed by its owner or part owners that has a small market share either by number of employees or turnover. |
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| Who comes up with the technology needs that require a solution? |
| Victorian public sector entities will be asked to consider their priority technology needs requiring solutions. They will be asked to develop a detailed Technology Requirement Specification to describe the technology need. These specifications will be released to the market as a Call for Proposal, inviting SMEs to respond with a solution addressing the need. |
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| How can an SME obtain funding under Smart SMEs MVP? |
| An SME that fulfils the eligibility criteria may respond to a Call for Proposal detailing an innovative solution to a technology need posed by a Victorian public sector entity. |
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| Can an SME seek funding for an innovative technology solution through the Smart SMEs MVP without a Victorian public sector entity requirement? |
| No. Unsolicited submissions from SMEs will not be accepted. All submissions by SMEs must be in response to the Call for Proposal. |
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| Can an SME apply for Proof of Concept funding without having competed for Feasibility Study funding? |
| No. Only SMEs who have been awarded the Feasibility Study funding can progress to Proof of Concept funding. |
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| What won’t be funded? |
| The Smart SMEs MVP will not award funding to commercial, off-the-shelf technology. The solution proposed by the SME must be new technology that has not been patented or commercialised. |
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| Will Smart SMEs MVP provide funds for commercialisation? |
| No. SMEs that complete the Proof of Concept stage will be encouraged to apply for funding through programs such as VicStart, which will assist in attracting investment to further commercialise the SME’s product or service. The Smart SMEs MVP will not award funding to commercial, off-the-shelf technology. The solution proposed by the SME must be new technology that has not been patented or commercialised. |
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| What sort of technology will the Victorian public sector entities be looking for? |
| Victorian public sector entities will be seeking responses to their Technology Requirement Specification that utilises leading-edge R&D technology platforms. While the Technology Requirement Specification will not prescribe the 'solution', it will need to be a new technology solution – in, for example, the fields of biotechnology, nanotechnology and environment technologies. New technology is defined as technology that is not patented or 'commercial off-the-shelf'. |
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| What SMEs are eligible for the Smart SMEs MVP? |
| To be eligible SME applicants must: |
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| Does the SME have to be a Victorian registered company? |
| The SME does not need to be a Victorian registered company. It may be a company that is registered interstate or overseas. As long as at least 80% of the R&D for the Smart SMEs MVP project is undertaken in Victoria and the Principal Investigator is based in Victoria for the duration of the Smart SMEs MVP, the SME will be eligible for the Smart SMEs MVP. |
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| Can an overseas based SME compete for Smart SMEs MVP funding? |
| Yes. An overseas registered SME may compete for MVP funding provided that at least 80% of the R&D for the Smart SMEs MVP is undertaken in Victoria and the Principal Investigator is based in Victoria for the duration of the Smart SMEs MVP. |
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| What public sector entities can be involved in the Smart SMEs MVP? |
| Any Victorian public sector entity as defined in the Victorian Department of Treasury and Finance 2007/08 Financial Report (pp.189-196) is eligible to apply for the MVP. |
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How can we help?
Related InformationMarket Validation Program PDF brochure (1.1 Mb, 4 pages) |
| Innovation: Victoria's Future dedicates $300 million in new funding in addition to the $714.7 million in innovation-related initiatives in the 2008-09 State Budget. |
