A PRIZE pool of $20,000 is up for grabs as part of the inaugural Bendigo Inventor Awards.
An initiative of the City of Greater Bendigo, the awards encourage innovation and economic development in the Bendigo region.
There are three categories for the awards: Rising, with a prize of $5000 for inventions not yet on the market; Established, with a prize of $5000 for inventions on the market; and Inventor of the year, which has a $10,000 prize for the best overall invention or innovation.
The winners of each category will be announced at a function to be held at the Bendigo Town Hall in August.
The function will host venture capitalists, business mentors, business representatives and members of the public.
City of Greater Bendigo business development manager Peter Jeffery said unlike many other inventor competitions, the Bendigo awards focussed on economic development as well as innovation and invention.
"The competition is open to everyone but entrants have to be able to demonstrate how their idea or invention will benefit the Bendigo and central Victorian regions," Peter said.
"We actively encourage anyone to enter, from commercial businesses to students and backyard tinkerers as not only are there substantial cash prizes available, entrants can also obtain exposure to a range of funding programs and mentoring."
Peter said the Awards committee had ensured it was easy to enter.
"We have removed a lot of the paperwork for the entry process," Peter said.
"It will only take applicants about 10 minutes to fill out the forms and people can ring me if they need any assistance or have any questions about their innovation or invention."
Peter also said applicants do not have to be based in Bendigo.
"The awards are about promoting inventions, innovation and economic development Bendigo and central Victoria," Peter said.
"We understand there are many business and developments outside of Bendigo that still provide economic value to Bendigo itself."
- Application forms are available at www.bendigo.vic.gov.au/inventor or picked up from City of Greater Bendigo's Lyttleton Terrace office and Workspace Australia in Eaglehawk.
- Applications close on July 30.
- For more details, phone Peter Jeffrey on (03) 5434 6241.
