The greatly expanded 2014 Australian Technologies Competition was launched at the Powerhouse Museum last week.
Now in its fourth year, the Australian Technologies Competition is open to SME (Small and Medium Enterprise) technology companies with less than 100 employees and seeks to find, mentor and develop the best among them.
“Launching the search for Australia’s next great technologies in the midst of many of the country’s best innovations from the past was perfect”, said New Inventors’ James O’Loghlin, who hosted the launch event.
“To hear some of the incredible success stories from past entrants that have been given access to the essential ingredients to take their idea’s to industry, was very inspirational. It is a fantastic confirmation of what the Competition program is able to achieve.”
More than just an award, the winners of the Australian Technologies Competition gain entry to an intensive Business Accelerator Program that provides expert mentoring and networking opportunities with investors, potential customers and specialist advisors, plus connections to grant programs and international markets. The top 30 companies will win a spot in the intensive business development program.
The Business Accelerator program has certainly provided a helping hand to beneficiary companies. For example, a 2011 winner was Adelaide based SMAC Technologies. It secured investor interest from Silicon Valley and multiple contracts to install its energy efficient air-conditioning that can reduce energy costs by up to 85%. 2012 competition winner enLighten Australia boosted sales of their LED lighting solutions by 600%.
“If you are an Australian technology company, you need to enter the Australian Technologies Competition. The benefits are enormous,” said Giles Bourne; CEO of BluGlass Limited, which won award last year.
In addition to the overall winner award, there are also separate category awards for energy, food, manufacturing, built environment and mining.
An initiative of the Department of Industry, more information on the Australian Technologies Competition can be viewed at www.austechcomp.com. Entries close on May 6, 2014.
