Innovation Districts Challenge #2 EOI’s are now closed
Innovation Districts Challenge 2
COVID-19 has disrupted the world’s economies.
NSW Treasury is seeking to identify and support businesses that are located within innovation districts (see below) to accelerate the commercialisation of research products that address the many disruptions caused by the COVID-19 pandemic.
To achieve this, the Government is partnering with universities and CSIRO in NSW to deliver three rounds of challenges. We are now at Challenge #2.
Has your business been impacted by COVID -19, or do you have a solution to support the recovery of one of the highly impacted business sectors in NSW?
Challenge Statement 2 is: Solutions that build economic resilience for NSW business to recover from the impacts of COVID-19
EOI’s are now closed
Innovation districts are locations where research institutions and companies cluster and connect with startups, business incubators and accelerators; and can network and accelerate commercialisation.
12 partner institutions have joined this project led by NSW Treasury, including 11 of the universities in NSW and CSIRO which form the Boosting Business Innovation Program network
Innovation district partners will identify businesses with connections within their area, either through research relationships or physical location, that have high potential products or services that address the challenge statement.
For more information please visits the NSW Government website
A Unique Innovation Arc of Collaboration
CSIRO is collaborating with two other Boosting Business Innovation organisations, Macquarie University and Western Sydney University, to deliver these challenges. This is the first time that the three organisations have worked collaboratively to deliver a State Government program to businesses. By doing so, they bring together an innovation arc that stretches across Sydney from the Northern Beaches, North Shore, North Western Sydney, arching out to Paramatta, Penrith Camden, Campbelltown and Liverpool.
After considering the submissions across our combined regions, nine outstanding businesses will move forward to stage 2.
The application process of the Innovations Districts Challenge has two stages.
Stage 1. Expression of Interest (EOI) and a Government Eligibility check. OPEN from 11th February 2021 through to 5th March 2021.
Stage 2. Full application (by invitation only)
To be eligible, businesses must have:
- an ABN registered in NSW and be based in NSW,
- fewer than 200 employees,
- been trading for at least 12 months,
- at least $75,000 in sales revenue within the last 12 months or previous financial year,
- a product or service (which may still be in development) that it intends to market within 12 months that directly addresses the health and wellbeing impact of COVID-19,
- ownership that is at least 75 per cent Australian and is not more than 50 per cent owned by another business.
Businesses seeking to learn more should liaise with the innovation district partner, or contact the Global NSW Concierge at www.global.nsw.gov.au/contact-us.
Nominated businesses will be invited to complete the Stage Two Application form and provide the supporting material outlined.
All Stage Two applications will be submitted to NSW Treasury.
Businesses will provide:
- completed Stage Two Application Form
- budget and commercialisation plan
- video presentation up to two minutes
- declaration of conflicts of interest and description of any ethical or regulatory requirements to deliver the product or solution to a marketable state in NSW.