Home Articles NSW launches scheme to help SMEs with funding and research access

NSW launches scheme to help SMEs with funding and research access

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Of note to NSW SMEs and public sector research organisations (PSRO) is the launch last week of the NSW government’s TechVouchers scheme, a pilot program to encourage collaboration between SMEs and PSROs based in NSW. The program will be jointly implemented through Industry and Investment NSW (I&INSW) and InnovationXchange Limited.

The scheme will include initiatives to promote the mutual benefits of industry and PSROs collusion; provide companies, who have an initial project, with partial seed funding to help them engage with research facilities; and supply expert technical guidance to help SMEs identify the most suitable research partner. PSROs will also be supported by making it easier for SMEs to engage with them.

Matched funding (cash or in-kind) of up to $15,000 will be made available for eligible NSW-based SMEs to assist with accessing technical research infrastructure and expertise.

Applicant eligibility is as follows:

Activities

Eligible activities for potential TechVouchers projects can cover all industries and includes:

  • seeding a research project in partnership with a PSRO;
  • funding a preliminary research activity;
  • product/process design activities;
  • trial production runs;
  • toxicity testing; and
  • validation or demonstrating of technical capabilities of a product, process or service.

SMEs

In order to be eligible, companies must:

  • be incorporated in NSW;
  • have fewer than 200 employees;
  • turnover less that AUD$30m per year;
  • have been in operation for at least one year;
  • be able to demonstrate the ability to match the applicant voucher amount in cash or in-kind;
  • and conduct the majority of proposed activities in NSW, in partnership with a NSW based PSRO, including universities, TAFEs or other public sector facilities.

For further information visit TechVouchers.

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