Completion of study with recommendations.
Summary
In 2018 a consultant was engaged and completed the study into funding options for small and medium start-up enterprises in the Northern Territory (NT). Information on funding and investment options was aggregated and made available on our funding page.
In 2020 a consultant was engaged and completed a study with regards to options for Angel Investor Network activation in the NT.
Outcomes
Recommendations led to the following Department of Industry, Tourism and Trade innovation focussed grants, programs, outcomes, initiatives and partnerships.
- Business Innovation Program
The Business Innovation Program aims to assist Territory businesses to develop and commercialise business innovation concepts, driving opportunities to grow private investment and create jobs through innovation. Innovators in Residence provide support to applicants in their planning, development and commercialisation phases of the start-up journey.
Business Innovation participants Universal Site Monitoring and Effusiontech Pty Ltd (Speed3d) have successfully commercialised and been referred to the Local Jobs Fund.
- Migration Innovation Northern Territory Program
The MINT program is an initiative owned by Paspalis and supported by the Territory Government. The MINT program assists overseas nationals who have demonstrated their commitment to supporting the Territory’s innovation ecosystem by investing in the Paspalis Innovation Investment Fund. This fund invests in venture capital projects that provide an economic benefit to the Territory innovation ecosystem. Learn more on the Paspalis website.
- Paspalis Innovation Investment Fund
Paspalis is pioneering efforts to develop the Australian venture industry, innovation and start-ups in the Northern Territory. Paspalis Innovation Investment Fund invests in both Australian and Offshore high growth companies looking to grow their businesses in the Northern Territory. Australian companies will be considered for investment where those companies are engaged in high growth ventures that create an economic advantage to the Northern Territory.
For more information, our criteria, process and current portfolio companies, go to the Paspalis website.
- Northern Territory Angel Investor Network
A number of angel investors with an interest in becoming active in the NT have been identified. For outcomes of the angel investor network study refer to action establish a Northern Territory angel investor network.
In 2020 the Northern Territory Angel Network was launched by the Darwin Innovation Hub.