Multimedia Victoria - Market Validation Program for SMEs

Market Validation Program for SMEs


What is an SME?


For the Smart SMEs MVP an eligible SME will:

  • Be a non tax-exempt company incorporated in Australia under the Corporations Act 2001, with at least 51% of the applicant's current business activities, employees or assets residing within Australia
  • Have a combined turnover of less than $50m for each of the three financial years prior to application
  • Have fewer than 200 employees
  • Have access to any necessary IP
  • Be willing to undertake not less than 80% of the R&D work in Victoria
  • Have the Principal Investigator based in Victoria for the duration of the project

Collaboration


Collaboration is permitted under the program and can be undertaken with another enterprise and/or university and/or research organisation. All collaborations must be SME-led with the component of R&D work contributed by university and research organisations into the overall program to be no more than 30%.

How will the MVP work for SMEs?


The technology specifications developed by the public sector entities will be released to the SME market through a Call for Proposals.
Proposals submitted by SMEs will then be assessed against the following criteria:

  • Technical merit of the proposed technology solution
  • Capability to conduct R&D projects
  • Resourcing of the project including key personnel, facilities and budget

Successful SMEs will then undertake a Feasibility Study and report on the outcomes of the study.

The Feasibility Study report will then be assessed to progress to the Proof of Concept stage.

What benefits will the MVP deliver to SMEs?


The Smart SMEs MVP is designed to substantially boost the ability of SMEs to interact with customers in a demanding client setting, to commercially develop and prove their products and provide a sustainable commercial base from which to secure expansion capital, export revenue and future customers.

Benefits to SMEs from the Smart SMEs MVP will include:

  • Access to R&D grant funding over four years
  • Opportunity to develop innovative R&D capability
  • Improved understanding of what is required in developing solutions that respond specifically to identified needs
  • Creation and retention of IP
  • Recognition, verification and visibility in the marketplace
  • A leveraging tool to attract further investment capital or research funds
  • A commercialisation platform

Contact


Questions and requests for further information can be emailed to the Smart SMEs MVP team, or you can register your interest.

How can we help?



Program Updates

New TRS Available
As of 29 July 2009, a new TRS has been made available. Visit the TRS page for more details.

MVP Online Forum
Share your ideas and thoughts about the TRS, innovation
and R&D in response to Government technology needs.


Related Information

Market Validation Program PDF brochure (1.1 Mb, 4 pages)

Presentation slides are available for download in PDF (307kb, 14 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.