Supporting Victoria's growth sectors
Published: 18 April 2018
A new round of funding is now available under the Victorian Government's Sector Growth Program, which offers up to $1 million to support projects that create jobs, and drive growth, productivity and competitiveness of local businesses.
The sectors primed for growth are medical technologies and pharmaceuticals, new energy technologies, food and fibre, defence technologies, construction technologies, transport technologies, international education, and professional services.
Collectively, these sectors have the potential to generate up to A$70 billion in additional economic output and create 400,000 new jobs by 2025.
Eligibility requirements for the Program have changed which means that applicants will only need to show their trading history for two years and a consortium is required for Stream 2 projects only.
Applicants must address four assessment criteria, focusing on alignment with Future Industries sector strategies, economic benefits to the state, capacity to undertake project, and value for money.
To date, the Program has supported great projects such as a 4D scanner to better diagnose and treat lung conditions, the establishment of a dedicated food group to boost the industry in Melbourne's North, and a biodigester system to help farmers dispose of waste in a more environmentally-friendly way.
Updated program guidelines are available from business.vic.gov.au/sectorgrowth and applications close 13 June 2018.