Multimedia Victoria - $28 Million Innovation Investment Drives Smart Solutions
$28 Million Innovation Investment Drives Smart Solutions |
| Media release - 19 February 2009 |
| The Brumby Government today launched its $28 million Smart Small to Medium-sized Enterprises (SMEs) Market Validation Program to help turn Victorian technology ideas into innovative new products and services. Speaking at the National ICT Australia (NICTA) Victoria Research Laboratory (VRL), Innovation Minister Gavin Jennings said Victoria is set to benefit from a new funding partnership between government agencies and Victoria’s R&D sector. “The Brumby Government is taking action to boost our leading technology research and development sector to generate economic benefits, and job growth in Victoria,” Mr Jennings said. “The Smart SMEs Market Validation Program will help Victorian industry to develop and commercialise products and services and take them into the market place.” The Smart SMEs Market Validation Program is part of the $300 million Victorian Innovation Statement, Innovation: Victoria’s Future announced in August 2008. “This funding provides a great incentive for business and research institutions to accelerate the conversion of their ideas into tangible solutions,” Mr Jennings said. “It will match government agencies and their challenges with the SMEs capable of designing and delivering technological solutions to help address those challenges. “It is a win–win, as the government agency gets a problem solved and the SME develops a product, with government investment and support that can then be marketed to the world. “The community can also benefit from the products and services that these SMEs generate.” During the program launch today, Mr Jennings saw the first demonstration of NICTA’s VRL Gigabit Wireless Chip. “This locally developed technology has the capacity to transmit huge amounts of data many times faster than other available wireless technologies,” Mr Jennings said. “This program demonstrates the value of government investment and partnerships with key organisations. “It shows what can be achieved with the right mix of government support, innovative people and hard work.” Applications for Smart SMEs – Market Validation Program will open to SMEs mid-year. |
| Information about the Market Validation Program for Smart SMEs |
