Facilitated by the state government’s Future Industries eXchange for Entrepreneurship (FIXE), this second round of grants is designed to upskill founders and key members of high-growth potential businesses.
Applicants may also access training and development courses that help them adapt to the tough economic conditions of the COVID-19 pandemic.
Minister for Innovation and Skills David Pisoni said the FIXE Scholarship Program recognises that innovative startups with high-growth potential are fundamental to the success of the state’s economy.
“Entrepreneurs don’t always have prior experience managing people or structuring a business — the FIXE Scholarship Program helps participants complement their bold ideas with the skills required to run a sustainable operation,” Minister Pisoni said.
“Round One of the FIXE Scholarship Program provided almost $35,000 to applicants building businesses in a wide range of sectors, including AI, ag-tech, advanced manufacturing, transport and hospitality.
“By building leadership, management, innovation and resilience capability in our startups, we can give local entrepreneurs the best chance of success and the opportunity to employ more South Australians.”
Managing director and founder of Concierge Genetics James Preuss was one of the successful applicants from the program’s first round.
The support enabled him to enrol in the Australian Institute of Company Directors (AICD) Company Directors Course, and he looks forward to pairing his business and science knowledge with the corporate governance required for growth.
“Concierge Genetics accelerates the rate of genetic gain through the delivery of customised genotyping and breeding strategy,” Preuss said.
“Working from the University of Adelaide’s ThincLab, the business improves genetic value to drive profitability, productivity and enduring prosperity for both livestock and crop farmers.”
Preuss’s vision is to expand the scope of his operations from the analysis of thousands of data samples to include data mining, capturing data representing desirable genetics through AI and machine learning.
“We’re looking for potential rare, well-performing genetic variants to enhance traits for productivity gain,” he said.
“While we have the science figured out, I have more to learn about the specifics of business governance and company structures.
“I have always wanted to complete the Company Directors Course but had never set aside the time or money.
“The FIXE Scholarship Program has motivated me to take this step and learn how to build our next venture.”
Grants of between $1000 and $5000 will be allocated through a competitive selection process, with a requirement of at least 2:1 matched funding.
For more information and to apply for the FIXE Scholarship Program, visit fixe.org.au/scholarship-program.
Applications close 5pm 17 November 2020.