The Smart SMEs Market Validation Program (MVP) is a $28 million grant program that seeks to engage with both government and business to promote innovation. The program aims to support SMEs to develop innovative products, processes and services focused on meeting the future technology needs of Victorian public sector entities.
MVP Brochure (PDF 1Mb)
What does the MVP aim to do?
The Market Validation Program (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.
The Market Validation Program (MVP) targets the development of new technologies or the significant advancement of capabilities to existing technologies that meet specific technology needs identified by public sector entities. With these new technologies, public sector entities will be able to make a significant improvement in their products, processes or services, and the SME will have created and tested new marketable IP.
How does the MVP work?
The Market Validation Program (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 Proposals 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 evaluated for further funding of up to $1.5m over two years to undertake R&D to Proof of Concept.
Technology Requirement Specification (TRS)
Victorian public sector entities identify a specific technology need, to which a solution is currently not available in the marketplace. Submission of a Technology Requirement Specification (TRS) must address a priority business requirement where there is scope for innovation.
This is a contestable stage that is only open to Victorian public sector entities. TRS applications will be assessed by an independent industry-based Assessment Panel (the Panel) and adhere to strict application criteria.
DIIRD will provide the Panel’s recommendations to the Minister for Innovation. The Minister will approve TRS applications to proceed to stage 2 as a Call for Proposal.
Registration for a TRS
TRS examples from Round 1 include:
- Example TRS – Railway Crossing Warning (PDF 39Kb)
- Example TRS – Auto Biophony Sensors (PDF 30Kb)
- Example TRS – Protective Gloves (PDF 23Kb)
The closing date for Market Validation Program (MVP) TRS applications is 23 August 2010.
For assistance with completing a TRS please contact us to discuss further