The Open Innovation Stream is available to any individual, business or professional research body that is equipped with the know-how and capability to undertake the proposed research project. Applicants should consider the following factors:

• The Fund typically requires a minimum 50% contribution towards the project from other funding sources (except in cases where a Victorian water utility is a direct sponsor and a beneficiary).
• Where a number of entities are involved, they must nominate a lead organisation to be responsible for the direct interaction with the Fund.
• If a project has the potential to impact environmental and public health standards or require approvals from a regulatory body, the applicant will need to demonstrate appropriate credentials in dealing with such entities.
• While the Fund welcomes applications beyond Victorian borders (including international applicants), demonstration of a local Victorian benefit and sponsorship is required.

The following represents the key eligibility requirements for the Open Innovation Stream in accordance with the Fund's new strategic pillars and investment criteria.

• The project must relate to urban water management.
• The project is able to demonstrate a strong link to a quantifiable return on investment. Examples include:
  • Revenue increase to a Victorian water utility
  • Cost reduction to a Victorian water utility
  • Reduction in potable water usage by consumers and / or industry
  • Impact on customer satisfaction or perception of the value-add by a utility
  • Environmental or public health impact where urban water plays a central role
• The project must demonstrate a level of innovation. Examples include:
  • Existing technology which has never been demonstrated in an Australian or Victorian context
  • An improvement on an existing technology or a new way of solving a problem with a clear value proposition
  • Results in new information with strategic value (e.g. can inform public / government policy and water reform)
• The project must have a clear path to progress and use the outcomes. This will typically require an industry or government entity to sponsor, support or commit to using the outcome of the project.
• The project must have wider applicability beyond the needs of the applicant and the sponsor. The applicant must be willing to share the information with other potential beneficiaries.

The Smart Water Fund is a water industry led program and requires that all applications be sponsored by a Victorian beneficiary organisation. Organisations acceptable as sponsors include:

• Water utilities
• Government departments
• Companies
• Councils
• Industry associations

A sponsoring organisation must be a potential customer for the project outcome and commit in principle to using the outcomes should they meet agreed criteria. A sponsoring organisation must be independent and therefore not a direct financial beneficiary (e.g. a technology owner or a controlling shareholder).

Funds available under this program vary from year to year depending on the strategic priorities of the Victorian water utilities and the Department of Sustainability and Environment.

The Fund generally considers applications in the range of $500,000. The Fund is required to balance the value, risk and benefit timeframe, hence most of the funds are assigned to large programs (>$200,000) which will deliver value within an average of 3 years.

Programs which don't have an immediate commercial value (e.g. long term research or strategic studies) are limited to a maximum of $50,000 per application and there are limited funds available for this type of project.

A Smart Water Fund Application Pack may be obtained via download or email by completing our online request form under the Current Funding Page.

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