Entries have opened for the 2015 round of Australia’s premier technology competition, a search for the country’s best new technologies aimed at enhancing industry competitiveness and efficiency. Now in its fifth year, the Australian Technologies Competition was officially launched in Sydney on Tuesday.
Over the last four years, it has generated over $250 million dollars in investment and project opportunities for Australian SMEs, and has awarded companies that have gone on to populate the ranks of the Global Top 30.
Each year, the competition’s 30 semi finalists win entry to an intensive Business Accelerator Program which provides access to expert mentors and connections to investors, customers, specialist advisors, grant programs and international markets.
Last year, the contest it attracted over 225 applicants, mentored 30 semi finalists and recognised six industry winners and an overall Australian winner – Safelash, for a shipping container lashing system that could save industry 10 billion litres of fuel, prevent accidental deaths and container losses.
Industry winners in 2014 included RayGen, a Melbourne-based developer of concentrated solar PV technology that has landed a major deal in China, which won the energy section of the competition, as well as the People’s Choice award.
The annual comp is partly funded by the Department of Industry and Science and, according to its own account, has so far delivered an economic return of over 300 times this amount.
According to competition organiser, John O’Brien, the productivity benefits provided by the technologies coming through the program will go a long way to meeting the demands set out by Treasurer Joe Hockey in his latest Intergeneration Report.
“The guidance on commercialisation, funding and pitching, combined with connections across industry, finance and international markets has enabled many of our Alumni companies to make a step change in their business,” said O’Brien
“It’s a great privilege to be able to play a part in the success of Australia’s best companies,” he said.
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