The success of the Business Innovation Program is set to be continued through a second round of funding, with nominations for BIP 2.0 now open.
The program means Territory entrepreneurs and start-ups can once again access valuable advice and support from some of the Territory and Australia’s leading innovation experts to develop and commercialise their innovative business ideas.
Under the BIP 2.0, eligible businesses can choose from a range of advisors, such as Darwin Innovation Hub, Rust 490 and LarriKin Interactive, to receive one on one mentoring and support.
Eligible businesses can also receive up to $2,600 in advisory services to develop an Innovation Project Plan and a pitch deck.
Participants can apply for up to $30,000 in funding to further develop their innovative concept into a commercially successful product.
BIP 2.0 is a key program under the Northern Territory Business Innovation Strategy that supports the Territory’s target of $40 billion economy by 2030.
Applications are now open for BIP 2.0. To be eligible, participants must apply for BIP 1.0 by August 2.
Quotes attributable to Minister for Business, Training and Jobs, Paul Kirby
“Territory entrepreneurs and start-ups now have access to a range of Australia’s best innovation experts to help them develop and commercialise their innovative business ideas.
“We are backing local businesses and providing new and targeted support though BIP 2.0 to drive the commercialisation of innovation forward.
“Innovation provides the foundation for new businesses, new jobs and productivity growth and is a key driver for economic growth in the Territory.”
Northern Territory Government
