Entrepreneurs in new and emerging industries in regional NSW will be supported  to grow their business, revenues, raise funds and create local jobs, thanks to the NSW Government’s new $2 million Accelerating Regional Innovation Fund.

Member for Tamworth Kevin Anderson said our region boasted a glut of innovative entrepreneurial minds and this fund would better support them in growing new and emerging industries based out of the Tamworth electorate.

“When you scratch the surface and look at some of the work that goes on in industrial estates right across our region, you’ll find some of the Nation’s leading innovators, driving progress in advanced manufacturing, food processing, renewable energy and gad, primary industries and more,” Mr Anderson said.

“I am always amazed at the work that goes on in businesses like Apollo Engineering, Thomas Foods, Obieco Industries, Many Fabrications and Engineering, to name a few. This fund is about supporting the innovative ideas of our industry leaders and I look forward to the fund delivering on the aspirations of our entrepreneurs.”

Deputy Premier and Minister for Regional NSW Paul Toole said regional entrepreneurs face additional challenges to their metropolitan counterparts, including ready access to supply chains, partners, funding, and even customers.

“We know our regional and rural areas are places where you can turn a dream into reality, and I’m so pleased this fund is helping these pipeline ideas come to life,” Mr Toole said.

“This new fund will assist businesses access the right expertise to improve their capability and competitiveness, drive economic growth and will equip regional entrepreneurs with the skills they need to lead change.”

The Accelerating Regional Innovation Fund will provide grants of between $300,000 and $700,000 to accelerator and incubator programs in regional NSW, Newcastle and Wollongong that support regional entrepreneurs and start-ups in emerging sectors and future industries. 

The Accelerating Regional Innovation Fund supports the 20-year Economic Vision for Regional NSW and the NSW Government’s priorities and plans to achieve long-term economic success for regional NSW communities.

Applications opened on 4 August 2022 and close on 30 September 2022 at 2pm.

For further information about the Accelerating Regional Innovation Fund, including program guidelines and eligibility criteria, go to: www.nsw.gov.au/ARIF