AMDA Foundation yesterday opened entries for the Avalon 2023 Innovation Awards, announcing a boost in prize money to $50,000, more than three times that awarded in 2019.
The increased prize money will be presented to the winners of the SME Innovation and Young Innovator categories only. In 2019, the catgory winners were handed $15,000.
AMDA Foundation CEO Justin Giddings said the AMDA board had increased the award cash prizes to encourage local innovation at a critical time in Australia’s industrial and strategic development.
“Since we launched the Innovation Awards in 2012, we have presented SME Innovation Grants and Young Innovator Awards to a value of $485,000 through our Avalon, Indo Pacific and Land Forces events,” he said.
“The awards are designed to encourage, highlight and reward excellence by Australian small companies and emerging engineers and scientists.
“The AMDA Foundation board believes that now, more than ever, Australia needs a strong, resilient industry sector to support the Australian Defence Force and to be a pillar of a smarter, stronger national economy.
"That sector needs to be innovative and export-minded as well as efficient."
Companies wishing to enter the awards have until 28 November to submit an entry. AMDA Foundation will present awards at Avalon 2023 in the following categories:
- Avalon 2023 National Innovation Award
- Avalon 2023 SME Innovation Award including $50,000 cash
- Avalon 2023 Young Innovator Award including $50,000 cash
“A sum like $50,000 can lever as much again in grants and project funding to help a project across the so-called ‘valley of death’ and turn a smart idea in to a proven reality,” Giddings said.
“It can help a young innovator undertake a Masters or a Ph.D, to study overseas or undertake an internship focussed on mastering a new technology.”
Entries can be submitted via the Avalon 2023 website.
Avalon 2023 is on at Avalon Airport, Geelong, Victoria from 28 February – 5 March 2023.