Victoria to spend $10.5 million on small technologies

The Victorian Government will cough up $10.5 million to help fund the development of ‘small technologies’ in the state.

The Melbourne Small Technologies Cluster defines small technologies as convergent technologies underpinned by nanotechnology, biotechnology, information technology, microtechnology and advanced engineering technologies.

The funding, part of the Victorian Action Plan for Small Technologies, is aimed at ensuring companies continue to advance their innovations and provide support for local companies to enter international markets, according to the state’s Innovation Minister Gavin Jennings.

“Small technologies have the potential to provide real benefits through medical advances and environmental benefits through innovations in areas such as pollution reduction,” Jennings said in a statement.

The 10.5 million funding will be broken up into a number of initiatives including $2 million to investigate skills and education programs needed to support this growth industry, and $2 million towards international investment, export promotion, conferences and events and other projects.

Some $6.5 million will also be allocated to the Victorian Department of Innovation, Industry and Regional Development’s (DIIRD) Small Technologies Industry Uptake Program (STIUP). As reported by Computerworld Australia, the three-year STIUP is aimed at boosting Victorian businesses’ capacity to adopt and integrate small technologies.

STIUP will provide support to industry through a voucher-based system which will see three levels of vouchers able to be exchanged for access to specialised facilities or advice and expertise from participating service providers on small technologies.

Jennings said Victoria had been investing in small technologies for some time, spending over the last decade more than $250 million in infrastructure to enable small technologies industries such as the Australian Synchrotron, the Melbourne Centre for Nanofabrication and the Small Technology Cluster.

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