INNOVATION VOUCHER PROGRAM

Mr SIBBONS (Mitchell) (14:42): My question is to the Minister for Manufacturing, Innovation and Trade. Can the minister update the house on how the government is assisting South Australian small businesses through the Innovation Voucher Program?

The Hon. T.R. KENYON (Newland—Minister for Manufacturing, Innovation and Trade, Minister for Small Business) (14:42): I thank the member for Mitchell for his question. He has a very keen interest, of course, in manufacturing, having worked in that area before and continues to look forward to it prospering.

I am pleased to inform the house that a $35,000 grant under the state government's Innovation Voucher Program has been approved to help SMR Technologies diversify its manufacturing and innovation capabilities. Members would be aware that the government's Innovation Voucher Program connects research and development organisations like SMR Technologies with local small to medium enterprises to solve technical problems and to encourage greater innovation within the manufacturing sector.

SMR Technologies will use this grant to develop and manufacture an electronic infusion pump to administer intravenous medications and treatments at home. They will work with CPIE Pharmacy Services—a South Australian owned and operated company that produces intravenous medications—to develop the technology, which has an estimated global market of $6 billion.

This partnership was facilitated by the government through the Innovation Voucher Program and it is anticipated that it will bring a number of benefits to the state. CPIE Pharmacy Services will be better placed to compete with multinational companies which are competing hard for a share of South Australian and national markets. This will lead to economic benefits through increased export potential as well as greater employment opportunities at both CPIE Pharmacy Services and SMR Technologies.

SMR Technologies is a great example of what can be achieved by developing a diversification strategy and working closely with education institutions and industry bodies to find and develop advanced manufacturing opportunities. SMR Technologies Sales and Marketing Director, Mr Sam Vial, has said that, and I quote:

The Innovation Voucher Program has provided the integral financial support to allow CPIE to utilise SMR's depth of experience in product design and manufacture and has also allowed for SMR Technologies to continue to expand its capabilities.

This is exactly the kind of energetic and innovative thinking that this state needs. I remind members to encourage companies in their electorates to explore what options might be available to them under the Innovation Voucher Program. Guidelines, applications and information are available at www.dmitre.sa.gov.au/ivp.