29 October 2010
A Brumby Labor Government program that builds business skills and capabilities will help Victoria’s small and medium enterprises (SMEs) push ahead with commercialising their new technologies.
Innovation Minister Gavin Jennings today announced a number of successful ‘Program Partners’ to provide assistance under the Government’s $8 million Smart SMEs Innovation Commercialisation Program (ICP).
“The Brumby Labor Government is supporting local companies through programs such as these that ensure innovative Victorian ideas make it to the marketplace,” Mr Jennings said. “The Program Partners have been engaged under the Smart SMEs ICP to deliver services which will benefit our innovative technology companies to help them grow, drive profits, export their technology and create jobs for Victorians.”
Mr Jennings said the Program Partners offered a range of services that companies could draw on, including building skills and capabilities and facilitating access to finance.
The programs form a comprehensive suite of commercialisation support services:
• Regional Technology Commercialisation Program ? assists regional start-up and early stage growth companies to develop their businesses case and obtain funding for commercialisation (Pyksis Victoria);
• Global Acceleration Program ? assists companies that have a well-developed business case and a sizeable potential export market to become export-ready, and provides assistance and mentoring to develop market entry strategies for the US or China (Pyksis Victoria/ANZA Technology Network);
• Fast Track ? assists export-ready companies to execute their market entry plans and accelerate their success in China or the US, targeting Victorian SMEs that develop and/or supply medical technologies, sustainable (environmental) technologies and small technologies (ANZA Technology Network);
• Innovation Interchange ? links SMEs’ capabilities to the emerging needs of the global water industry by potentially providing technology-based solutions (products, services, processes) to the global water industry (GHD); and
• Practical Drug Development Program ? provides specialist drug development expertise to biotechnology SMEs developing new pharmaceutical products by placing project managers trained in clinical strategy within the companies to lead and manage drug development programs.
More than 120 Victorian technology SMEs are expected to benefit from specialised assistance to help them progress along the commercialisation pathway towards establishing domestic and global markets for their products.
The Smart SMEs ICP is an $8 million initiative of Innovation: Victoria’s Future. For more information about the Smart SMEs ICP click here.