Digital Futures Fund
Up to $500,000 for collaborative projects that assist businesses to use ICT to improve their productivity.
100% Success rate with the Collaborative Internet Innovation Fund (cIIF)
Overview
Round 2 of the Digital Futures Fund supports collaborative projects involving the development of information and communication technology (ICT) solutions that transform current business practices and deliver productivity benefits to Victorian small to medium sized enterprises (SMEs).
Background
Adoption of ICT has been demonstrated to drive productivity, innovation and improve the competitiveness of businesses. The Digital Futures Fund supports SMEs to overcome business challenges through the use of ICT by reducing barriers to specialist ICT resources, knowledge and technical expertise.
Eligible Projects
Applications for the Digital Futures Fund are sought for projects to be undertaken in Victoria for a maximum of two years. To be successful, projects will:
- assist Victorian SMEs to solve business challenges, such as limitations or constraints to productivity, growth or profitability, through the development and implementation of ICT-led solutions;
- deliver significant improvements to products, services, business models and productivity;
- demonstrate collaboration between Victorian businesses and relevant ICT companies, researchers and industry groups to develop solutions; and >> commit to share project learnings with other businesses.
Eligible Applicants
Digital Futures Fund projects must involve a minimum of three partner organisations, two of which must be Victorian non-ICT SMEs facing a shared business challenge.
Project partnerships may comprise a mix of private and public sector organisations including industry bodies and associations, community organisations, universities, TAFEs and public research and development organisations. All Digital Futures Fund partners will have an interest and role in solving the identified business challenges and will be in a position to demonstrate the benefits to other Victorian SMEs. A lead organisation is required to submit the application on behalf of all project partners.
Funding
Digital Futures Fund applicants can apply for funding between $50,000–$500,000 (excluding GST) to support their projects. Applicants must contribute a minimum of 25 per cent of the total project value in cash (i.e. $25,000 cash co-contribution for a project costing $100,000). In-kind project contributions are also encouraged. If shortlisted to proceed to Stage 2, applicants will be eligible for a grant of up to $20,000 (excluding GST) to develop a business plan.
Process
The Digital Futures Fund involves a two-stage competitive selection process:
Stage 1: Expression of Interest
Applicants submit an Expression of Interest outlining essential parameters of their proposed project. Applicants also indicate their interest in applying for a grant to assist with developing a business plan.
Stage 2: Business Plan development
Shortlisted Stage 1 Digital Futures Fund applicants are invited to submit a business plan for review that expands on project information provided at Stage 1 including project management details, partner roles, budget details, key project deliverables, milestones and proposed outputs.
Applicants successful at Stages 1 and 2 of the Digital Futures Fund application process will be invited by the Department of Business and Innovation to enter into a funding agreement for delivery of the project.
Expert Assistance
In 2011, we were successful with assisting a client obtain over $250,000 through the previous program called the Collaborative Internet Innovation Fund (cIIF).
Writing a good quality grant application is a critical element in the application process. An application needs to be well thought through, written concisely, have clear objectives and purpose, and show clear links to the objectives of the grant guidelines.
The grant application must answer all questions, provide all required information and respond to the merit criteria. It should also reflect your organisation’s business strategy.
Writing a good application takes time and effort, and requires particular writing skills.
Bulletpoint are expert grant consultants and can assist with all aspects of grant preparation.
Call us on (03) 9005 6789 or email to discuss further.
Areas that we focus on in the business plan include:
- Need and Purpose – demonstrating that the project addresses a clearly identified shared business need, problem or challenge?
- Collaboration – demonstrating that the project involves a diverse range of collaborative partners?
- Innovation – demonstrating that the project involves innovative ICT or use of ICT to address / solve the identified need / challenge.
- Capability Development and Replicability – demonstrating that the project will lead to the development and availability of new ICT-enabled capabilities in Victoria
- Quantifiable Benefits – demonstrating that the project deliver quantifiable benefits to partner organisations (productivity gains, new revenues or skills) and how will they be measured
- Dissemination and Diffusion – demonstrating how the project show its transformative value / benefits to others and which economic sectors will benefit from wider diffusion of this knowledge
- Sustainability – demonstrating that the project will operate / deliver benefits after the program funding
- Resources and Delivery – demonstrating that the partner organisations have the appropriate mix of skills, experience, infrastructure and resources to successfully deliver the project and achieve quantifiable outcomes
Timing
The majority of applicants have been notified whether there application has been successful to progress through to stage 2. Still no announcements from Round 1 yet.
More Information
- Digital Futures Fund – Application Form
- Digital Futures Fund – Fact Sheet
- Digital Futures Fund – Guidelines
- Digital Futures Fund – FAQ
Media Release
Technology Minister Gordon Rich-Phillips today announced the opening of round two of the Victorian Coalition Government’s $11 million Digital Futures Fund designed to drive productivity through the use of information and communication technology (ICT).
“Victoria’s small and medium enterprises are invited to submit expressions of interest for collaborative projects that use ICT to address key business challenges,” Mr Rich-Phillips said.
“The Coalition Government is focused on supporting projects that will bring productivity benefits to Victorian businesses and the state more broadly.
“The fund was set up to help find solutions to barriers that are commonly faced by small to medium enterprises in business,” Mr Rich-Phillips said.
Examples include projects that consider how to improve the quality of a non-ICT business product; reduce the time, labor or quantity of raw materials required to produce a product; create new ways of working; or improve the speed and quality of service delivery.
Projects must involve a minimum of three partner organisations, two of which must be Victorian SMEs facing a shared business challenge. Successful projects will receive funding of up to $500,000 and may run for up to two years.
Mr Rich-Phillips said applications were welcome from all industries involving partnerships between private and public sector organisations such as industry bodies and associations, community organisations, universities, TAFEs and public research and development organisations.
“All project partners must have an interest and role to play in solving the Victorian SMEs’ business challenge,” Mr Rich-Phillips said.
The $11 million Digital Futures Fund is a key initiative of the Coalition Government’s Victoria’s Technology Plan for the Future – Information and Communication Technology, an $85 million plan to promote ICT-enabled innovation and support Victoria’s ICT sector.
Applications for this round close at 2pm on Wednesday 7 March 2013. Successful projects from Round 1 of the Digital Futures Fund will be announced in early 2013.
