Entrepreneurs in new and emerging industries in regional NSW will be supported to grow their business, revenues, raise funds and create local jobs through the NSW Government’s $2 million Accelerating Regional Innovation Fund.
Member for Cootamundra Steph Cooke said this is an opportunity for growth in both business and sustainable practices.
“Businesses across our region are known for adapting to hurdles presented to them,” Ms Cooke said.
“The Covid-19 pandemic is a perfect example where we saw local businesses implement new ways of supporting the region and this fund will only encourage further such innovation.”
Deputy Premier and Minister for Regional NSW Paul Toole said regional entrepreneurs face additional challenges to their metropolitan counterparts, including ready access to supply chains, partners, funding, and even customers.
“We know our regional and rural areas are places where you can turn a dream into reality, and I’m so pleased this fund is helping these pipeline ideas come to life,” Mr Toole said.
“This new fund will assist businesses access the right expertise to improve their capability and competitiveness, drive economic growth and will equip regional entrepreneurs with the skills they need to lead change.”
The Accelerating Regional Innovation Fund will provide grants of between $300,000 and $700,000 to accelerator and incubator programs in regional NSW, Newcastle and Wollongong that support regional entrepreneuers and start-ups in emerging sectors and future industries.
The Accelerating Regional Innovation Fund supports the 20-year Economic Vision for Regional NSW and the NSW Government’s priorities and plans to achieve
long-term economic success for regional NSW communities.
Applications open on 4 August 2022 and close on 30 September 2022 at 2pm.
For further information about the Accelerating Regional Innovation Fund, including program guidelines and eligibility criteria, go to: www.nsw.gov.au/ARIF