New grants mean your idea could be worth $50,000

HAVE you ever been sitting on the couch and come up with an innovative idea that you think could change the way something is done?

Could $50,000 help see that idea become a reality?

If so, then continue reading.

The Queensland Government will launch a new grants program on Sunday aimed at helping individuals, businesses and university researchers in regional towns and cities who often find the leap from workshop to shopfront financially challenging.

Science and Innovation Minister Ian Walker, talking exclusively to APN Newsdesk, said the Accelerate Ideas initiative had been established to encourage people from across regional Queensland, in conjunction with the state's world-class industries, to work together on turning good ideas into commercial reality.

He said the program is seeking projects that are close to market entry, are demand driven, contribute to business growth, overcome barriers to commercialisation, and provide potential investment opportunities.

"We want to see good, genuine ideas that have the potential to succeed in the marketplace, but also benefit Queenslanders through the potential for creating new jobs and attracting investment in the Queensland economy," he said.

"We want to turn brilliant ideas into products or research that not only have the potential to improve the lives of Queensland families and many others, but will also help get them to market."

Mr Walker said applicants would need to match the government's grant to show they were fair dinkum about driving their idea to market.

"Grants of between $25,000 and $50,000 will be given to successful applicants who are at the point of demonstrating the commercial viability of their innovations.

"So, for example, they have developed a prototype and need support to validate their product to get it to the next stage along the commercial pipeline.

"If they can successfully demonstrate the commercial viability of their innovation, this will help them attract commercial allies including industry collaborators and investors."

Mr Walker said the Accelerate Ideas initiative formed part of the government's $8.75 million Science and Innovation Action Plan.

For further information visit http://www.qld.gov.au/accelerateideas


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