Innovators in the engineering, construction and resources sectors across the state can meet their match in a potential end user, investor or advisor in a new Queensland Government program opening on October 17.
The Department of State Development’s pilot Engineering, Construction and Resources Innovation Hub (ECRI Hub) program aims to identify commercial opportunities in these sectors by translating ideas into products and services and exploiting their full potential.
The program recognises the difficulty that small to medium enterprises can face in lifting bright ideas off the drawing board and into the board room.
Under the first stage of the pilot program, up to eight participants will be selected to work with leading engineering and professional services company GHD to increase their market intelligence and understanding of the commercial value of their product.
Up to three participants will be advanced to a second, more intensive stage of the program focused on developing industry partnerships and longer term outcomes.
The Queensland Government will cover two-thirds of the $9000 Stage One and two-thirds of the $18,000 Stage Two costs, and participants will be expected to make a financial commitment.
GHD will work with participants to develop an overview of their innovations’ opportunities by identifying possible industries, geographies, markets and clients and document the recommended next steps to commercialisation.
By mid-next year participants are expected to have a product or service ready for market and a strategy to maximise growth.
Expressions of Interest for the program close on 14 November. For more information and to apply visit dsd.qld.gov.au/ecrihub.