The Prospect Innovation Award aims to support projects that foster the local innovation ecosystem, recognise best practice in business, and connect businesses, the community and educators.

The awards are an initiative designed to support the council and its business leaders to successfully invest in the future.

“We are very excited to host the awards and play our role in nurturing new talent, new jobs and greater local prosperity,” City of Prospect Mayor David O’Loughlin said.

“At this time, job creation is critical, and if these awards lead to more recognition and local investment we would be delighted.”

City of Prospect is seeking residents to create eligible projects that demonstrate the values of the initiative.

The business, charity or project must be located in City of Prospect, or have strong business relations within the area, resulting in local jobs or progress towards innovation.

“I am looking forward to seeing ideas generated by local business or ideas by business outside of Prospect that would help grow the local economy,” Deputy Mayor Matt Larwood said.

“We particularly want ideas that will help kick start our businesses in this new economic reality.”

To be awarded a grant proposal, applicants need to meet three of the six criteria:

1. A new and unique product or service
2. Development of an educational program
3. Development of an entrepreneurial event
4. Demonstrate that the project is innovative
5. Launch a start-up business
6. Seek to connect into the local innovation ecosystem

A total pool of $13,000 will be available, with the amount of funds awarded depending on the size and age of the business, as well as to a lifelong learner, and to an entrepreneur under the age of 25.

The six-member judging panel includes Deputy Mayor Matt Larwood, Prospect Business Leaders Group chair Marissa Schultze and Deputy Dean for Research at the University of Adelaide Carolin Plewa.

“I like the fact that the awards are seeking to develop a local innovation ecosystem, and bring schools and SME’s together to grow business,” Marissa Schultze said.

“This is particularly important in this time of COVID19 – where we need to be innovative to adapt to the new business and health environment.”

City of Prospect has a long-standing commitment to driving innovation and building future prosperity, and has again been included in the Top 21 Intelligent Communities in the World by the Intelligent Community Forum in 2020.

“We see this as the first in a series of awards, and an opportunity as a Top Intelligent Community to put our money where our mouth is. To nurture new talent and provide the right environment for new ideas to grow, with our people at the forefront,” Mayor David O’Loughlin said.

Online applications close at 5pm on 25 May via the Network Prospect website. Winners will be announced in June 2020.