100 BUSINESSES WITH BIG IDEAS BID FOR $50,000 BOOST (QLD)
MEDIA RELEASE | QUEENSLAND GOVERNMENT
Treasurer and Minister for Employment and
Economic Development
The Honourable Andrew Fraser
Friday, December 03, 2010
100 Businesses with Big Ideas bid for $50,000 boost
The State Government is urging businesses with Big Ideas to get their applications in for $50,000 in funding that could help get their big ideas over the line before next week’s deadline.
Treasurer and Minister for Employment and Economic Development Andrew Fraser said the Government, in conjunction with Ai Group, had launched What’s Your Big Idea Queensland? - a new grants scheme to boost innovation within small to medium sized enterprises (SMEs).
“This is a new $2.5 million grants scheme designed to make SMEs more productive and profitable by putting them in touch with experts who can help them get their big ideas over the line,” he said.
“While the new scheme was only launched in late October, the response from the business community has been fantastic with the website receiving thousands of hits with 100 applications lodged.
“The scheme provides up to $50,000 for businesses to commercialise ideas, introduce new more efficient business models, or develop new products and processes.
“I’m encouraging businesses to access the Big Ideas website www.bigideaqld.com.au and get their application in by the closing date of 10 December.”
Mr Fraser said innovation fuelled business productivity, economic growth and the jobs of the future.
“That’s why the Queensland Government has a set a target under Toward Q2: Tomorrow’s Queensland to increase the number of Queensland businesses that are innovating or investing in R&D.”
Ai Group Queensland Director, Matthew Martyn-Jones said What’s Your Big Idea Queensland? would help boost new business ideas amongst Queensland’s thousands of SMEs.
“SMEs are the backbone of Queensland’s economy and they know better than anyone what’s needed to boost their businesses,” he said.
“They often just need an extra bit of incentive to kick-start the process or the assistance of an expert.
“These grants are a great innovation themselves because they’ll really stimulate a longer-term change in mindset that raises the status and value of innovation
“Another feature of this program is that it’s aimed at being as user-friendly and red-tape free as possible – businesses can apply online or even on video.
“We’re receiving very positive feedback from business so far and really hope the momentum can be built upon.
“SMEs right across Queensland have a wealth of talent and this scheme will help bring it to light.”
Mr Martyn-Jones said SMEs would have their Big Ideas judged by an impressive panel of experts:
- Brett Godfrey – former CEO, Virgin Blue
- Arun Sharma – QUT Deputy Vice Chancellor
- Jim Walker – QMI Solutions CEO, and
- Kate Morrison – Vulture Street Consulting Principal.
Treasurer Fraser said approximately $1 million would be provided under the scheme this financial year.
Winners will be announced in the first quarter of 2011.
Media contacts
Treasurer's office: 3224 5982 or 3224 6361
Ai Group Media contact: Jemina Dunn - 3244 1767