Innovation Funding and Finance
Overview
The Innovation Funding & Finance Workstream aims to bolster scalable innovation through fostering collaborative partnerships between Australian and Vietnamese organisations. It transcends traditional funding mechanisms by introducing a partnership based framework to address critical gaps in the innovation system, such as technological challenges, sustained business models, or funding limitations. This workstream is deliberately designed to catalyse how innovation can target environmental challenges and inclusive objectives, while pursuing economic purposes. The core activity under this Workstream is the Innovation Partnership Grants.
Key Activities
Hi-tech Innovation Grants to Address Sustainable Challenges in the Agriculture and Food Sector:
At the core of this workstream is the innovation partnership grants program.. These grants result in novel technological solutions ready to be transferred to local partners for use, scaling, or expansion.
Integration with Other A4I Program Activities:
The practical results from the grant projects are used as case studies for specific A4I policy research, such as Responsible AI principles and regulations. Where applicable, they are also disseminated through innovation networks that A4I has developed to promote the accessibility and applicability of these solutions.
Development a Network of Innovators and Fostering Australia – Vietnam Partnership:
In all grant projects, a consortium of diverse innovation partners from both Australia and Vietnam – be it academia, industry partners, government agencies, and end-users of the innovation – is established to realise the innovative ideas. By working hand in hand from design to implementation, partners better understand ways of working, culture, capacity of others, helping the partnership become enduring and sustainable. This contributes substantially to the innovation networks across Vietnam, as well as to the Australia – Vietnam innovation partnership.
Expected Achievement
A successful portfolio of thematic innovation projects
A thematically organised portfolio of innovation projects that demonstrate tangible outcomes through high-tech solutions relevant to sustainability and social inclusion is effectively delivered on the ground. Throughout this process, the capacity of partners is enhanced with novel knowledge, technology, and approaches.
An effective funding mechanism to stimulate innovation
A comprehensive process is developed, disseminated, and transferred to local partners to manage funding for innovation projects that deliver on sustainable and inclusive objectives. This can support a more effective funding mobilisation, allocation, and management process to boost innovation.
Durable partnerships
Enduring partnerships between Vietnamese and Australian researchers, universities, research institutions, government agencies, and the private sector is established and enhanced. These stakeholders continue to seek new opportunities to collaborate to drive innovation in both countries.
