Grant for water market tech solution

Posted 20 October 2016

WaterGrants of up to $1 million are up for grabs for Australian businesses with innovative ways to improve water market information.

The challenge is part of the Federal Government’s Business Research and Innovation Initiative (BRII) program.

It encourages small to medium businesses to put forward a technical solution for improving the transparency and reliability of information about Australia’s water market.

“Understanding Australia’s complex water market can be challenging,” said Mary Colreavy, Assistant Secretary of the Water Acquisition and Markets Branch of the Department of Agriculture and Water Resources.

“Currently there are numerous sources of information about water trading and water markets available online, and there are also a number of entities involved in authorising, processing and regulating a trade.

“This means a prospective buyer or seller of a water right may need to check a number of different sources of information to make a well-informed trading decision.”

Colreavy said the program was hoping for solutions that would utilise emerging digital platforms to improve the ease of access to water markets, increase market participation, improve community confidence in Australia’s water markets and also better assist in sustainable management of water resources.

“The best proposals for the challenge will receive grants of up to $100,000 to test the feasibility of their ideas over three months,” she said.

“If the tests are successful, the grant recipients may then go on to apply for up to a further $1 million to develop a prototype or proof of concept.

“Funding of up to $1.1 million will be available for the business that can offer the best solution, along with retention of intellectual property and the right to commercialise the idea in Australia or overseas.”

Information sessions are being held in capital cities across Australia from October 11-26.

Proposals must be submitted by November 30.