InnovationXchange Asia-Connect Awards Announced

The Australian Industry InnovationXchange Network is calling for applications for the inaugural InnovationXchange Asia-Connect Awards to take market-ready Australian technologies or products to Asia. Chief Executive of the InnovationXchange, Grant Kearney said, 'Up to five Award winners will have the opportunity to receive free professional services, valued at $A70,000 each, from leading Asian business information company, FBR Asia through its Asia-Connect service, to promote and market Award-winning Australian technologies or products to prospective business partners in the Asian market.'

Asia-Connect will provide direct marketing and sales support in five leading countries in Asia - Hong Kong, Taiwan, South Korea, Singapore and the Philippines - which have a track record for the commercial acquisition of licensed technologies, products and 'know how'.Asia-Connect's marketing and sales support includes:

- Comprehensive market research and analysis to identify the level of acceptance and opportunity for the Award-winning technologies

- Presentation of the Award-winning technologies to prospective commercial parties in those countries

- Identification and profiling of a short-list of prospective commercial parties demonstrating a keen interest in the Award-winning technologies

- Recommendations to the owners of the Award-winning technologies as to the negotiation of agreements necessary for the commercialisation of their technologies or products.

Applicants for the InnovationXchange Asia-Connect Awards must be either a member of the InnovationXchange Network, or a member of a Leader of the InnovationXchange Network.

An eminent panel with representatives drawn from industry, research and government will review applications submitted from:

- Businesses with an annual turnover of less than $5M 'Businesses with an annual turnover of less than $30M'

- Businesses with an annual turnover of more than $30M

- Public Research Organisation - Universities

- Public Research Organisation

- Other

FBR Asia Managing Director, Nigel Page said, 'Many smaller Australian firms and research organisations have leading-edge products and expertise, but their growth is limited without access to international markets. The InnovationXchange Asia-Connect Awards are for market-ready technologies from companies or public sector institutions seeking access to business in Asia, rather than assisting with commercialisation of early-stage research.'

Applications close on Friday 2 April 2004 with Awards to be presented as part of the Australian Innovation Festival in May 2004.

For more information visit www.innovationxchange.com.au/awards or call Emily Byrnes on +61 2 9466 5422 or email ebyrnes@ixc.com.au