Your small business could win $250,000 in new challenge
Southern Cross University has launched the second round of an initiative focusing on economic recovery by inviting businesses to enter the Innovation Districts R&D COVID-19 Challenge.
The top ranked submission will receive a $10,000 grant as being the local innovation district winner then go into the national competition which offers $250,000 for first place.
An initiative of the NSW Government’s Boosting Business Innovation Program, the challenge is designed to identify and support small to medium enterprises that have products or solutions that build economic resilience for NSW businesses to recover from the impacts of COVID-19.
The NSW government said it would invest a further $500,000 in seed funding to help get ideas out of the lab and into people’s hands.
SCU Vice President (Engagement) Ben Roche acknowledged the important role Universities play in nurturing the development of new solutions to pressing global challenges.
“In partnership with the NSW Government, Southern Cross University welcomes the opportunity to facilitate more opportunities for local SMEs to submit their product or solution that works to build the economic resilience of NSW businesses to recover from the impacts of the pandemic,” Mr Roche said
Byron Bay-based adventure company, We Are Explorers, took out took top honours in Challenge one, receiving a grant of $10,000 as the highest place submission for the SCU Innovation District.
“Being awarded the local R&D Challenge winner has allowed We Are Explorers to dive deep into research and user journey mapping that we wouldn’t have otherwise been able to explore,” said founder Henry Brydon.
“The support of the innovation grant through Southern Cross University is helping to make our vision a reality and allowing us to help Australians live in a more connected way to nature and each other which is critical working to reduce the impacts of COVID-19 on health and wellbeing.”
Businesses are asked to submit their EOI through the SCU who is partnering with Sourdough Business Pathways to support the challenge and provide eligible applicants with mentoring to support their submissions.
Each pitch is ranked with the top three submissions being recommended to NSW Treasury and the top ranked submission will receive a $10,000 grant as being the local innovation district winner.
SCU will also assess all entrants for suitability for other accelerator or mentorship opportunities.
Submit EOIs before 5pm, March 5 here.