If you are a small business selling or creating innovative consumer products, you could be in the running to win one of five $80,000 grants from Amazon Australia's new Amazon Launchpad Innovation Grants program.
The grant program is open to small and medium Australian businesses, entrepreneurs and startups, to support the wave of innovation that has been inspired during the pandemic.
It was launched in response to findings in the recently released Amazon Launchpad Innovation Report, commissioned by Amazon Australia.
The report found that isolation helped 28 per cent of SMBs innovate for the future, with more than a third (35 per cent) refreshing their business plan, while 38 per cent used the time to focus on creativity.
In spite of economic, employment and health concerns, 92 per cent of Australian SMBs said they felt optimistic for the future.
Some 25 per cent of SMBs said they were able to innovate by exploring new revenue streams or launching online. Around one in six said they innovated by creating new products or transforming their products while 20 per cent planned for or built a new business or product strategy to move forward.
Amazon Australia's head of Launchpad, Chadd Ciccarelli (Pictured right), said the grants program was created to support Australian innovation and to stimulate businesses that had evolved during the pandemic to continue creating and transforming products.
"In the first year since launch, we’ve worked closely with many startups, entrepreneurs and small business owners to launch cutting-edge products on Amazon Launchpad as part of Amazon.com.au"' he said.
"Over the past few months in particular, we’ve seen Australian SMBs lean even further into innovation to grow their businesses and we’re looking forward to seeing how the grants will enable these creative minds to further this innovation for the future."
The grant package includes a: $20,000 cash grant; Amazon and Amazon Web Services marketing support; exclusive access to mentors such as Amazon leadership and entrepreneur experts from Australia and Seattle; access to successful eCommerce savvy Australian SMEs; and, insights from angel investors in the venture capital community.
How to enter a. Visit amazon.com.au/launchpad; successfully register to be in Amazon Australia’s Launchpad program; access the online entry form for the Amazon Launchpad Innovation Grants initiative; complete all sections of the online entry form; and
b. Answer the following question in 250 words or less: “Share what makes your product innovative and/or how you’re being innovative at this time?”
Judging criteria includes the following:
a. Physical consumer products that best reflect and support the changing way of life in Australia.
b. Innovation and creativity;
c. How the grant package will benefit your business.
Entries are open now and close on Monday, August 24, at 11.59pm.