Queensland innovators in the engineering, construction and resources sectors are being offered a second chance to be part of a successful “match-making” service with potential end users, investors and advisors.
A second round of funding for the Engineering, Construction, Resources and Innovation Business Mentoring for Innovation program was announced this month, with the response to the first round highlighting a genuine appetite for innovation in these sectors across Queensland.
The program has demonstrated that there are genuine commercial opportunities for innovators and their new products across these industries and the Queensland Government is committed to ensuring great ideas are translated into products and services that will strengthen the economy and create jobs.
Up to 10 participants will be selected from an Expression of Interest process to work with leading engineering and professional services company GHD to develop their innovations.
The participants will then advance to a more tailored second stage, which will focus on creating industry partnerships and achieving longer-term outcomes.
Participants with the best ideas will be offered two thirds of the funding necessary to support the commercialisation of their products, with the selected businesses required to provide the remainder.
Businesses developing successful and revolutionary products from the previous round include:
- Architectural Metal Works Australia (AMA), for a highly efficient frameless modular balustrade system. The Sunshine Coast based company’s innovative balustrade reduces the speed of installation by 60 to 70 per cent. It also improves safety for the end user by using a stronger laminated glass and a custom-fixing mechanism.
With the program’s continued assistance, the new modular balustrade will lead to the expansion of AMA’s business from a local to a national supplier. This growth will create an additional 10 jobs in 2018 - resulting in another 300 indirect jobs in the supply chain.
- StringAir Vision Pty Ltd, for an integrated light-camera for confined spaces. This product will raise the bar in safety by enabling personnel working within one or more confined spaces to be visually monitored at all times from a single monitor. This will not only reduce the number of support personnel required outside the confined space (who may experience focus fatigue), but also exceeds legislative requirements.
The Rockhampton based business plans to employ two new staff to support the product’s commercialisation in early 2018. Over the next five years, the business hopes to create 50 additional local jobs.
WMMC employs three specialists in coding and mechatronics with a further 10 new jobs to be created within the next 18 months.
Applications for the second round are now open and close on 16 February 2018 at 5pm.
For more information and to apply visit www.dsd.qld.gov.au/ecrihub