INNOVATION HACK FOR SME’S

T H E B U S I N E S S C E N T R E

INNOVATION HACK FOR SME’S

T H E B U S I N E S S C E N T R E

LETS HAVE A LOOK AT INNOVATION.GOV.AU

•CSEF

•EARLY STAGE INVESTORS

•EMPLOYEE SHARE SCEMES

The new arrangements will apply from the date of Royal Assent and are expected to commence from July 1 2016

INNOVATION.GOV.AU CROWD-SOURCED EQUITY FUNDING (CSEF) HACK FOR SME’S

• Dylan needs say $50,000 to get a pet tracking device that works well in field testing to refine it for saleability

• Family, fools and friends first point of call

• Dylan extracts $10K from FFF’s but they don’t trust him that much so he is forced to traditional lenders for remaining $40K

• But given Dylan's limited track record and inability to meet loan repayments and the risky nature of his proposition the banks waive the opportunity

• With the new CSEF Dylan can seek up to $10K from individuals (per year)

• https://www.cfinstitute.org

INNOVATION HACK FOR SME’S

T H E B U S I N E S S C E N T R E

CHIEF ECONOMIST

CHIEF ECONOMIST INNOVATION REPORT

CHIEF ECONOMIST

SCHUMPETER

"GALE OF CREATIVE DESTRUCTION" DESCRIBES THE "PROCESS OF INDUSTRIAL MUTATION THAT INCESSANTLY REVOLUTIONIZES THE ECONOMIC STRUCTURE FROM WITHIN, INCESSANTLY DESTROYING THE OLD ONE, INCESSANTLY CREATING A NEW ONE".

SCHUMPETER

AUSTRALIAN INNOVATION SYSTEM REPORT HACKS FOR SME’S ??

• The Chief Economist has been reporting on innovation since 2010

• We have an innovation system, we have an innovation ecosystem

• The “agent of innovation the pivot on which everything turns”

• Market failure = solution driven opportunity • 2 types of innovation • Only 18% do it because they have to • Age matters- Young businesses perform differently and

grow faster • By world standards our Start Up activity is high• We have good conditions for innovation but we don’t

collaborate well• Less than 20 employees is where the bias for innovation

is most pronounced• IP, Patents and Trademarks

HUNTER INNOVATION MIND MAP – ROB OLVER

INNOVATION HACK FOR SME’S

T H E B U S I N E S S C E N T R E

BUSINESS CENTRE EXAMPLE HELP HACK “START UP TO EXIT”

THE BUSIENSS CENTRE-ESPY“START UP TO SCALE UP TO EXIT”

An example of an innovative business assisted from Start Up to Scale Up to Exit is ESPY

Connect. After attending our Start Your Own Business workshop and creating a

relationship with a business advisor, the client saw the gap in the market providing

comprehensive linking between people with disabilities and service providers in the

disrupted NDIS market. The client had the vision for an online directory that was based

around the point of difference and value each service provider offered the client. After

working closely on the UX Design of the platform a web designer was engaged to start

the build. The client maintained her allied health business, project work and family (four

kids) throughout the process staying motivated through the direction of her advisor. Six

weeks after ESPY Connect was launched offers of purchase were brought to the table

from Westpac, Telstra and one of Australia's largest allied healthcare providers. After the

sale of the business, the client remains on as a mentoring customer of The Business

Centre, choosing to stay with the team that supported her from ideation.

BUSINESS CENTRE “INNOVATION PROGRAM HELP HACK”

INNOVATION HACK FOR SME’S

T H E B U S I N E S S C E N T R E

BUSINESS CENTRE RIPPLER EFFECT EXAMPLE HACK RIPPLER EFFECT + BEER = GROWTH

BEER FARMER, L ACHL AN MACBEAN AIMS TO BRING THE FOUR COMPONENTS OF A HEALTHY LIFEST YLE, WATER, GRAINS, HOPS, AND YEAST TOGETHER IN A GL ASS OF FERMENTED LIQUID DELIGHT. CURRENTLY BREWING THE BEER AT ANOTHER BREWERY, L ACHL AN LOOKS FORWARD TO THE DAY ALL HIS BREWING WILL BE DONE AT HIS OWN BREWERY!

FOR START UPS, SCALE UPS OR INNOVATORS TAP INTO THE REGIONAL INNOVATION ECOSYSTEM BY CALLING THE BUSINESS CENTRE ON 0249257700

MAKE THAT APPOINTMENT BECOME AN “AGENT OF INNOVATION” AND A “PIVOT ON WHICH EVERYTHING TURNS”

INNOVATION HACK FOR SME’S

T H E B U S I N E S S C E N T R E

Go to www.businesscentre.com.au

for info on workshops and one on ones