NSW Government encourages innovation as Tech23 applications open today

2 May 2011

Deputy Premier and Minister for Trade and Investment Andrew Stoner has encouraged companies to apply to exhibit at Tech23, where the NSW Government will provide $150,000 in innovation awards.

Applications open today for companies wanting to exhibit at this year’s Tech23, which is being organised by Slattery IT. The Tech23 technology showcase will be held at Surry Hills in Sydney on 23 August.

"It is wonderful to have Australia’s premier showcase of early-stage innovative ICT technology companies, Tech23, held here in Sydney,” Mr Stoner said.

“Tech23 will give 23 of the best new Australian companies the chance to pitch their cutting edge technologies to an audience of around 400 potential investors, mentors, entrepreneurs and customers.

“By bringing together the best emerging technologies and investors, Tech 23 is a practical initiative that helps foster new commercialisation and business opportunities.

“The $150,000 in innovation awards for category winners at this year’s Tech23 provided by the NSW Government will help new technologies into the marketplace and create smart jobs and economic benefits for NSW and Australia.”

The NSW Government’s $150,000 in innovation awards at Tech23, provided through the Office of Trade, Business and Industry (OTBI), will include the:

  • Broadband Innovation Award - $25,000 for the company whose business model,product, service or solution has the best ability to drive demand through broadband services
  • Outstanding Collaboration for Innovation Award - $25,000 for the companywhich best demonstrates active engagement in a business partnership orcollaboration contributing to the development of their innovation
  • Community Contribution Award - $25,000 for the company best demonstratinghow their innovation will significantly and measurably benefit their local or national community
  • Greatest Potential Award - $25,000 for the company which best demonstrateshow they will progress their business model to the next level providing the greatest potential for growth and progress; and
  • Innovation Excellence Award - $50,000 for the company judged the best of theTech23 by demonstrating how their innovation is unique, underpins companyperformance, industry dynamics, productivity change and economic growth.

Companies chosen to exhibit at Tech23 will be given five minutes to pitch theirtechnologies to an expert panel of industry leaders, investors and entrepreneurs followed by discussions on investment opportunities and business models.

They will network with investors, mentors, customers and advisors and be given space on 'Innovation Island' to further demonstrate their products and services.

A number of category winners from last year’s Tech23 have reported good progress on the back of their awards.

Last year’s Innovation Excellence Award winner, Marathon Robotics, has used its award to help establish a development and test facility in Marrickville to service a $57 million contract with the US Marine Corps to trial robot technology for training American soldiers in live firing exercises.

For further information on entries in this year’s Tech23 visit www.tech23.com.au