Small and medium enterprises (SMEs) in NSW are being urged to collaborate with universities and research organisations to take advantage of an $11 million funding program aimed at boosting innovation.
The Boosting Business Innovation Program (BBIP) aims to boost productivity across the state by facilitating partnerships between SMEs and Publicly Funded Research Organisations (PFROs) over the next four years.
The revamped BBIP programme, which now includes TechVouchers grants, aims to accelerate idea development and innovation by connecting SMEs with research organisations.
Designed to remove barriers that prevent companies from commercialising their ideas, the program aims to position NSW as a prime destination for innovation in sectors such as clean energy, medical sciences, agriculture and advanced manufacturing.
Through collaborative research projects and access to resources such as research facilities, technology and expert advice, the programme aims to support innovators and increase productivity.
Of the total funding, $7.15 million will be allocated to delivery partners to subsidise facilities and services, while $3.85 million in TechVoucher grants will fund collaborative research projects between SMEs and researchers.
The programme, which complements the NSW Innovation Blueprint, is expected to accelerate innovation across the state.
SMEs are encouraged to engage directly with delivery partners to explore opportunities under the program.
Further information and a list of delivery partners can be found at www.investment.nsw.gov.au/bbip