Entrepreneurs in new and emerging industries in regional NSW will be supported to grow their businesses and create more local jobs, thanks to the NSW Government’s new $2 million Accelerating Regional Innovation Fund.
Nationals Upper House MP Sam Farraway said the funding would unlock much needed support for new businesses by funding programs that provide knowledge, skills, training and investment opportunities for start-ups.
“Regional Entrepreneurs face an uphill battle from the start and are often deterred from starting a business because they don’t have the skills or know how.
“This funding recognises these challenges and provides the resources people require to get their business off the ground.
“From how to access customers and supply chains, to learning how to secure funding, these grants will expand available resources to regional businesses.
“This is great news for regional start-ups and economies alike.
“The skills and knowledge acquired will not only see innovators better prepared to weather the challenges of running a business but also reduce the number of businesses forced to close due to economic downturns.
“From manufacturing and food production to renewable energy and ecotourism, this Fund will help these industries look to the future, delivering economic growth and securing a brighter future for regional NSW.
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 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
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