To be considered for funding, applicants must co-operate on innovative market driven development of a new technological product, process or service.
The project partners must include:
- at least one Victorian company with a trading history and ABN
- at least one Israeli company.
Grant recipients must pass risk assessments by the Department of Jobs, Precincts and Regions (DJPR) related to Financial risk and Business Unit risk.
The Victorian applicants must therefore provide (at Phase II stage):
- financial report for the last three financial years. This information should be the 'final accounts' with Directors' Report & Declaration and should include Profit & Loss Statement, Balance Sheet and Notes to the Accounts
- where the latest financial report is more than six months old, up to date management or interim accounts (Profit & Loss Statement and Balance Sheet).
Academic and research entities are not eligible to apply for funding directly, but may undertake sub-projects on behalf of the applicant companies.
Companies are required to make a co-contribution of an equal or greater value than the grant amount requested. The Government funds can be used to leverage funding from other programs separate from VISTECH itself. However, the requirement remains for the partners to at least match the Victorian Government's contribution.
VISTECH funding can be applied flexibly to project related expenses; funding is not intended to cover 'business as usual' expenses.
Project costs and activities
Eligible project costs and activities may include:
- personnel costs for staff dedicated to the project
- cost of purchasing, leasing or renting equipment or instrumentation
- cost of sub-contracting and consultancy services used exclusively for the project
- other operating expenses (e.g. cost of materials, consumables and other supplies)
- premarketing expenses
- outlays to meet regulatory requirements
- business planning
- knowledge transfer to industry and other end users
- necessary travel.
Corporate overheads as well as financial charges are not eligible.
For more details, please read the Program Guidelines.
What you get
VISTECH collaborations provide partner companies with access to additional skills, capital, technology transfer and know-how.
How to apply
The VISTECH application is a multi-stage process including partner matching (optional), bilateral cooperation application and final grant application.
1. Expression of Interest and Partner Search (optional)
To enable any collaborative project to succeed, it is essential that the parties are aligned as to project objectives, skills and ethos.
A search and matching service can be provided to assist Victorian and Israeli companies seeking to identify partner organisations.
Submission of the following form will constitute your expression of interest and request for partner search:
VISTECH General Partner Search form (DOC 839.5 KB)
Partner Search forms can be emailed to the VISTECH team. Information will be shared with the Israel Innovation Authority to identify potential partner organisations.
2. Bilateral Cooperation Applications – Phase 1
The next stage of the process is a pre-screening of project proposals to determine suitability for a full application.
Please note that Phase 1 is intended for initial assessment and guidance. Full submissions will be accepted by 19 March 2020 for those applications invited to continue to Phase 2.
The steps are as follows:
- applicants jointly complete a Bilateral Cooperation Form (BCF). The content of this form is to be agreed between the parties so that identical information is submitted to both the Victorian and Israeli Governments
- the applicants submit the BCF and relevant attachments to their respective government departments
- a Letter of Intent (LoI) or Memorandum of Understanding (MoU) is drafted and executed by all parties involved in the project. This document refers to the management of intellectual property.
3. Full Applications – Phase 2
Victorian companies may then be invited to submit Phase 2 applications, subject to positive assessment of Phase 1 applications.
Following approval of the Bilateral Cooperation Form (Phase 1):
- Israeli applicants are required to submit a separate application directly to the Israel Innovation Authority (IIA). This application should be submitted according to IIA guidelines and regulations and using IIA forms and required templates – all available online at the IIA website
- Israeli applicants are subject to the evaluation procedures of the IIA, which generally included on-site visits and interviews by an assigned professional evaluator. The IIA Research Committee then makes a decision regarding whether the project is eligible for funding and for what amount
- the projects are then reviewed by a Joint Management Committee. Only those projects that are approved by both Government authorities receive funding
- letters of offer are sent by the IIA to successful Israeli applicants.
Applications will be assessed on the following criteria. To give yourself the best chance of receiving the grant, you should address these.
Technical strength includes:
- the level of innovation and novelty of the product
- the technological barriers, risks and opportunities of the development
- the creation of intellectual property.
Business - commercial potential
Commercial potential includes:
- the potential market size
- the path to adoption (commercialisation/utilisation) will achieve the identified outcomes
- the funding sought will generate a return on investment
- the solution answers market needs
- the global market size
- the expected market share for the company
- significant competitive advantage based on a comparison of competitor companies and products.
Collaboration – organisational capabilities
Organisational capabilities include:
- the position of the organisations in the sector
- the capabilities of the management and research and development teams
- the ability of the collaboration to achieve the intended results
- financial capability
- past performance.
Contribution to the economy
Contribution to the economy includes:
- the potential contribution of the technology to the economy and society
- the potential of an industry sector or user group to make productivity gains from the technology
- additional investment, export and employment opportunities.