Applications are now open for the Technology Adoption and Innovation Program (TAIP) – a $5.0 million initiative designed for Victorian small to medium size enterprises (SMEs) to on-board innovative technologies or develop innovative, new, and commercial technology.
- Enable Victorian SMEs to invest in their business to implement new digital and innovative technologies that will improve their business productivity and competitiveness. This may include adopting new technologies and solutions such as ecommerce, artificial intelligence, data analytics, cyber security, Internet of Things or robotics in their business practices and operations; enabling them to contribute to Victoria’s economic recovery;
- Support Victorian SMEs involved in technology development to further develop innovative, new, and commercial technology products and services, enabling them to contribute to Victoria’s economic recovery.
The program has two streams of financial assistance which will be awarded on a competitive, merit basis:
- Stream 1 – SME technology and digital adoption
- Grants of up to $50,000 for Victorian SMEs to adopt technology or digital solutions to improve their processes and productivity and support their future growth. These projects will be delivered by a service provider engaged by the SME to deliver goods and/or services to the SME.
- Stream 2 – Innovative, commercial technology development
- Grants of up to $50,000 for Victorian technology companies to implement defined projects to develop commercial technology or digital products. These projects can use service providers to deliver goods and/or services to assist the SME with the development of commercial technology or digital products.
Funding Information and Criteria
- Grants provided through the program range between a minimum $20,000 and a maximum $50,000.
- Grants will be provided on a co-contribution basis at a ratio of 1:1 for applicant cash contributions and government funding.
- Under both Streams each successful SME will be required to contribute a minimum of $20,000 (GST exclusive) towards eligible project expenditure.
- If applying for Stream 2 funding, the SME must also demonstrate that its main business model applies to the provision of technology products or services
- Eligible SMEs must meet the following criteria to be eligible for assistance under the program:
- be an eligible legal entity
- operate a business located within Victoria; and
- hold an Australian Business Number (ABN) and have held that ABN at 1 September 2020; and
- be registered for Goods and Services Tax (GST) on 1 September 2020; and
- employ at least 5 FTE (full-time equivalent) staff at 1 September 2020 (preference will be given to Applicants that employ less than 200
- people); and
- attest that they:
- can contribute a minimum of $20,000 (GST exclusive) towards eligible project expenditure and match any grant funding on a 1:1 fund basis; and
- have met all industrial relations obligations as an employer in accordance with the National Employment Standards; and
- will participate in future program evaluation activity; and
- if applying for Stream 2 funding, demonstrate that its main business model applies to the provision of technology products or services; and
- Only apply for funding under either Stream 1 or Stream 2, not both.
- An Incorporated Trustee can apply on behalf of a Trust provided that the Trustee will remain sufficiently liable for the performance of any agreement it signs.
- The individual partners may apply on behalf of a Partnership provided that the Partners will remain sufficiently liable for the performance of any agreement they sign.
- An applicant is only eligible for one grant under the Program.
- Funds from other State or Commonwealth Government programs cannot form part of the co-contribution.
The following are not eligible to apply:
- Commonwealth, state and local government agencies or bodies
- Publicly funded research institutions
- Industry associations or business chambers
- Not-for-profit organisations
- Community-based organisations.
For more information, visit https://business.vic.gov.au/grants-and-programs/technology-adoption-and-innovation-program