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December 2009 Alchemy is pleased to announce it has been awarded the NSW Government contract to deliver the NSW Innovation Advisory Service. The service provides practical support and assistance to start-up companies, inventors, innovators and small to medium enterprises in the early stages of innovation development. A range of the services are subsidized. The NSW IAS will also be hosting a range of free seminars and webinars and shortly will be launching a new website which will provide valuable innovation resources and links to service providers to assist your business idea, invention or innovation through all stages of commercialisation. To make an appointment for a free consultation call 1300 411417 or email info@ausinvent.com.
Grants Update A federal program and replacement for the commercialisation program (Commercial Ready) that was terminated in 2008. Full details of the program will be announced in January 2010, however the broad thrust of the information provided to date is that the service will provide: Specialist advice and services to build the skills, knowledge and linkages necessary to successfully commercialise their ideas COMET This long running program is expected to close in June 2011. This means that all funds provided have to be expended by then. Because the lead time to obtain COMET and the fact that there is up to 12 months to use the funds, this means that the final applications are going to have to be made by about March 2010. Contact grants@alchemyinnovation.com.au for assistance. Research and Development Concession The final date for registrations for the 2008/09 financial year is April 30th 2010. Since we have to get over the holiday season this does not leave a great deal of time to prepare and lodge the R&D concession. Companies can apply for a 45 per cent Refundable R&D Tax Credit for companies with a turnover of less than $20 million. For assistance with your R&D Concession arrangements contact grants@alchemyinnovation.com.au or call 8233 6170. A changed program will begin in 2010/2011. The Government issued a consultation paper and held workshops regarding policy, content and implementation. Outcomes most likely are that software restrictions will go. The concession will be harder to obtain since dual test of innovative AND systematic, investigative and experimental both have to apply. The Alchemy team can also assist with other key business programs such as • Retooling for Climate Change
Entrepreneur of the Year Ernst and Young have announced their latest national winners of the Entrepreneur of the Year Award. Click here to view the winners.
Wanted: World’s Greatest Innovators The search is on again for Australia’s greatest innovators; people who have created successful products or services from brilliant engineering ideas or inventions. The awards aims to seek out, encourage and reward innovators in the engineering/ technology space. The Innovation Heroes Award recognizes innovations that were conceived and developed in Australia by Australian individuals and companies, and that have been profitably commercialised or otherwise delivered real value. It is open to individuals and teams, in small and large companies. For more information on the Innovation Heroes Awards, including past awardees, go to http://www.warren.usyd.edu.au/projects.htm and then select Innovation Heroes Award from the menu on the left of the screen. Application forms are at this site.
Where’s the Money? When you need funds for your business, it's important to understand what an equity investor or lender is looking for. The more you understand their motivations, the better their 'fit' will be with your business. The key is to choose the correct type of funds for the stage of your business development. Most people fund their establishment phase, for example, with equity of their own (usually by mortgaging their property), or through friends, family and associates. This can be tricky because friends, family and money often don't mix, but at this stage, you don't have much choice. Another alternative is to attract a business angel - a person who is often retired or independently wealthy, but who wants to contribute both money and expertise to an interesting business (www.businessangels.com.au) or try a capital-raising system like the Australian Small Scale Offerings Board (www.assob.com.au) through Alchemy. If you need capital for expansion or startup, want to maintain a controlling interest and don’t wish to take on debt call the team at Alchemy for a free consultation to explore your options.
SmartCompany Announces Business Start Up Awards SmartCompany Business Start Up Awards have been announced. Read about the award winners, and the profile of the 50 fastest-growing start ups (each profile includes a great tip). Click here to view the list of up and coming start ups.
Seasons Greetings On behalf of the team at Alchemy we wish you the compliments of the season and a prosperous new year. Kind regards
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