SA entrepreneurs need to seize the opportunities for innovation created by the global financial crisis advises Amanda Heyworth, CEO of South Australian seed investor Playford Capital.
The investment company is currently involved in the Federal Government’s Innovation Investment Follow-On Fund (IIFF), a program devised to help fund managers invest into promising early-stage companies in Australia.
As one of the selected companies, Playford Capital invests as much as $1.5 billion into innovative early-stage South Australian companies. The company’s portfolio includes businesses in areas such as food and beverage, processing technology, energy management, online advertising, medical devices and diagnostics.
Heyworth encourages SA businesses to invest in innovation and take advantage of the opportunities available to them.
“South Australia has excellent long-term prospects in areas of its technology strengths, but it is essential for us to innovate and invest in order to sell into global technology markets,” she said.
Heyworth said the immediate future will present a number of challenges for technology companies and has encouraged early stage companies to “cut their cash burn, including non-essential R&D.”
For more information on the Innovation Investment Follow-On Fund, please visit www.ausindustry.gov.au