A $28 million assistance program has been launched by the South Australian government to encourage growth for the state’s science, research and startup sector.
The $28 million Research, Commercialisation and Startup Fund will target new and existing business and research enterprises in South Australia, with a focus on Lot Fourteen, the former Royal Adelaide Hospital site that will house a new innovation and defence hub.
Chief Entrepreneur for South Australia Jim Whalley said the funds will support activities designed to further build the state’s local startup ecosystem.
“South Australians aren’t short on creativity, what we require is networking and mentoring opportunities and financial support to turn ideas into viable businesses,” said Whalley.
The assistance program has three funding streams. Stream one will support research initiatives that will create innovative solutions or translate research into industry or commercial outcomes that address economy-wide challenges for South Australia.
Stream two provides participants with access to funding to grow their innovative early-stage business and is divided into three pathways: 1:1 matched funding of up to $100,000 to fund a startup’s early stages; 2:1 matched funding of up to $100,000 for early-stage startups partnered with an incubator, accelerator or value-add investor; co-investment of $100,000 – $1 million alongside private funding designed for companies addressing a known gap in the market with significant private investment.
While stage three aims to build South Australia’s startup ecosystem by supporting programs, events and activities that have broad benefit to the startup community.
Minister for Industry and Skills David Pisoni said the fund will be managed by the Department for Industry and Skills to support proposals that build industry research and development in the state.
“The objective of this $28 million fund is to contribute to economic growth by supporting collaboration between enterprises, researchers and universities, and encourage the establishment and growth of startups in South Australia,” said Minister Pisoni.
The fund will compliment the existing Economic and Business Growth Fund and the Regional Growth Fund to drive growth for South Australian enterprises.
South Australia’s Chief Scientist Professor Caroline McMillen said science and research innovation is essential to supporting the emergence of new businesses.
“This Fund will build the talent, infrastructure and collaborations required to attract investment and grow a strong knowledge-based economy in South Australia,” said McMillan.
“We encourage scientists together with their business partners to engage with the Office of the Chief Scientist to discuss how to take up the opportunities this Fund provides.”
Originally published at The Lead by Lizzie Rogers
When you have built your own business from the ground, you’ll do anything to protect it.
Taking precautions to ensure the safety and wellbeing of staff and contractors is one part of giving your business the best insurance, as taking out sufficient fire, theft, vehicle and property insurance.
But what about the lesser-known factors which can cause damage to your manufacturing company? Let’s break them down and look at how you can get the best protection.
To make sure you are able to remain open after a serious claim event, you should safeguard your company with important insurance covers like business interruption and management liability. Certain risks can jeopardise your company, so you need to make sure your business interruption and management liability risks are covered with market policies, which will provide the benefits you will need in the event of a claim.
Public and products liability including statutory liability (fines and penalties)
The government are particularly strict about occupational health and safety, so it’s important to have the correct policies and procedures in place, but it’s also crucial to have insurance to protect you from statutory risks that may occur.
Machinery, computer and electronic breakdown
When the equipment breaks down in any manufacturing situation, it can spell disaster for many businesses. Luckily, you can be insured for this to avoid loss.
In the event that one of your clients or customers claims for financial loss, bodily/personal injury or property damage as a result of an act, error or omission in your business’ services, professional indemnity insurance will protect you.
Being selected for a taxation audit is time-consuming and can be costly. Taking out insurance helps in the event your business is chosen for audit, investigation or review.
Unfortunately, things can happen which means you might need to recall a product, and with the number of product recalls increasing in recent years, having insurance to protect you against significant loss can be very beneficial.
When it comes to manufacturing, one of the biggest mistakes people make is not taking out the best insurance they can. Speaking to an Adelaide Insurance Broker at MGA can help you sort the best cover for you and your company.
MGA take the guesswork out of the insurance process and their expert broking personnel will find the best protection for whatever you are covering. Your business is their business.
The Flinders University team in South Australia has partnered with Swinburne University of Technology in Victoria, Australian Stock Exchange-listed First Graphene Lt, and manufacturer Kremford Pty Ltd.
The collaboration is developing a GO-powered battery, a super-capacity energy storage alternative to emerging lithium-ion battery (LIB) technology.
Graphene is the lightest, strongest, most electrically conductive material available and has been predicted to generate revolutionary new products in many industry sectors. But so far unreliable quality and poor manufacturing processes has prevented an industrial graphene market.
In 2015, Flinders University scientists were awarded an Ig Nobel Award for creating the Vortex Fluidic Device and using it to unboil an egg.
The device has also been used to accurately slice carbon nanotubes to an average length of 170 nanometres using only water, a solvent and a laser.
It has also been used to process graphene to a high quality for commercial use.
VFD creator and professor of clean technology at Flinders University Professor Colin Raston said the production of GO from graphite ore with minimal waste was an important part of the collaborative project.
“This project aims to develop the manufacturing specifications for the commercial production of a graphene oxide super-capacitor with the ‘look and feel’ of a LIB but with superior performance across weight, charge rate, lifecycle and environmental footprint factors,” Professor Raston said.
The AU$3.45 million project is being supported by a $1.5 million Cooperative Research Centre Project grant through the Australian Government’s Advance Manufacturing Fund.
First Graphene will use the Flinders University technology to produce the highest-quality graphene at scale and to become a global supplier of graphene nanomaterials products.