Legislative Council Fifty-First Parliament, Third Session (51-3) 51 3 Parliament of South Australia Legislative Council published Question Time Innovation Development Grants INNOVATION DEVELOPMENT GRANTS The Hon. C.V. SCHAEFER Legislative Council INNOVATION DEVELOPMENT GRANTS The Hon. C.V. SCHAEFER (15:07): I seek leave to make a brief explanation before asking the Minister for Small Business a question about innovation development grants. Leave granted. The Hon. C.V. SCHAEFER Legislative Council The Hon. C.V. SCHAEFER: This government purports to give innovation development grants via the Centre for Innovation, whose website reads as follows: Push the boundaries...with an innovation grant. Opportunities for growth and profit come from the commercialisation of new ideas. The process from idea to market is a journey of many steps: market identification, proof of concept, development of a business and marketing plan and securing financial resources. Innovate SA is offering merit-based competitive grants to assist small to medium businesses with development costs and/or to position themselves to attract further investment (such as grants and equity) that will lead to commercialisation of innovative products and services. Companies with an annual turnover between $250,000 and $5,000,000 and a trading history of at least two years should read the Guidelines and then contact Innovate SA to discuss their particular project. I have been contacted by a constituent who has stated that the IDGs are not being made available to recent applicants because the money from the government has not been available to Innovate SA. Can the minister either confirm or deny the availability of IDG funding via these grants? The Hon. P. HOLLOWAY Legislative Council Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business The Hon. P. HOLLOWAY (Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business) (15:09): The Centre for Innovation, of course, is the responsibility of my colleague the Minister for Industry and Trade in another place. Obviously, innovation grants are important and, as the honourable member suggested, small and medium businesses are recipients of those. But, as the actual responsibility for that particular program is with my colleague, I will get a response for the honourable member and bring back a reply.