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Liberal Nationals to drive food-tech innovation through voucher program

Friday, 9 November 2018

The Liberal Nationals are committed to strengthening and diversifying the Victorian economy by facilitating up to $18 million in commercial investment through a new $9 million innovation voucher program.

Victorian Start-Ups, Small and Medium Enterprises will be able to access innovation grants focusing on six key areas of Victorian competitive advantage, one of which will be Victoria’s growing food-tech and agriculture industries.

The food and fibre sector is one of Victoria's most internationally competitive industries and accounts for approximately half of Victoria’s exports.

This industry has been built on Victoria’s reputation as one of the world’s safest and cleanest food producers with a network of established research and development facilities driving new innovations in resource management, food manufacturing and packaging.

These grants will support new entrants and existing businesses to drive competition and innovation whilst leveraging off existing networks.

A total of $9 million over four years will be awarded by a Liberal Nationals government on a dollar-for-dollar matched basis to drive innovation, industry collaboration and growth. 

Australia is currently ranked last out of the 33 OECD countries for collaboration between universities, publicly funded research organisations and business.

The Innovation Voucher Program will reward businesses with a demonstrated ability to collaborate with others in their field including other Victorian businesses, universities and research agencies.

These vouchers will help to foster relationships between diverse groups of collaborators that will ultimately drive commercial innovations and grow Victoria’s reputation on a world stage.

Comments attributable to Leader of the Liberal Party, Matthew Guy:

“Daniel Andrews and Labor have lost control of the Victorian economy and taxes. 

Labor’s nine new taxes is making it harder for Victorian businesses to survive and thrive.

That’s why a Liberal Nationals Government will support new entrants and existing Victorian businesses with this program to drive innovation, growth and more jobs.”

Comments attributable to Shadow Minister for Innovation, David Southwick:

“To stay relevant in a globally competitive world, Victoria needs a diverse, innovation and collaborative economy.

Victoria must seize on its areas of competitive advantage and support a commercially focused collaborative approach to driving future innovation and growth.

These targeted grants will drive innovation, grow competitive advantage and deliver a stronger economy for all Victorians.”