Opportunity for WA innovators

This is the last chance for West Australian inventors and innovators to submit their nominations for one of Australia’s richest innovation competitions, the WA Inventor of the Year Award for 2008.

Nominations close on 12 June and with a prize pool of more than $320,000, the competition offers just over $100,000 to the competition’s overall winner.
 
Now in its third year, the award is designed to assist the public, private and education sectors to commercialise their ideas and to further build on the strong culture of innovation and entrepreneurship already established in Western Australia.

General Manager of the Innovation Services and Technology Precincts Branch at the Department of Industry and Resources Roy Chapman said the award program was a great opportunity for local inventors to receive a helping hand to realise the potential of their ideas.

“The Inventor of the Year Award is commercially focused and provides a fantastic opportunity for Western Australian inventors and innovators to develop a product or service they have created, and get it ready for market,” he said

“Prizes on offer range from $25,000 - $101,000 and can assist inventors to develop or commercialise their idea.

“Every person entering the competition is also eligible to take part in the Inventor Plus Program.

“The program offers a series of six commercialisation skills development modules designed to help inventors and entrepreneurs gain an understanding and appreciation of the processes required to attract investment, and take a product or service from idea to market.

“There is enormous talent and great ideas within Western Australia and all innovators, creative thinkers and inventors are encouraged to enter the competition.

“With 120 entries received last year, there are many more innovations which could benefit from this year’s awards.”

The competition categories include:

BUSINESS COMPETITION
 
• Early Stage
For entrants who have developed their product or service from an idea, can clearly define the problem it solves, and have some form of intellectual property protection or a rapid route to market to stay ahead of the competition.
 
• Development
For entrants who have developed their product or service to a more advanced stage, with a prototype ready for early market testing.
 
• Ready for Market
For entrants who have developed a product or service which is ready to be licensed, manufactured or marketed, with business and marketing plans finalised.
 
SCHOOLS COMPETITION
 
• Schools
Open to students from Kindergarten to Year 12, encouraging them to invent a new product or device or to modify an existing tool.
 
• Remote Schools
A new category for 2008, it focuses on a whole class rather than individual students, and encourages students to come up with innovative solutions for problems in their own communities.

The WA Inventor of the Year Award is administered by the Department of Industry and Resources through the Innovation Centre WA at Technology Park in Bentley.

More information about the award, including how to submit a nomination, is available from http://www.doir.wa.gov.au/inventor