Last week, Western Australian Commerce, Science and Innovation Minister Troy Buswell opened nominations for the 2010 WA Innovator of the Year Award. All Western Australian entrepreneurs who have an innovation to promote are encouraged to apply.

The Awards offer business skills training, mentoring and financial support for successful candidates looking to commercialise their product or service.

In addition to assisting Western Australian innovators, the ceremony is also seen as a cultivating ground for building on the State’s existing strengths in science and innovation in the areas of mining, petroleum and medical research.

The award categories and entrant elligibility is as follows:

PRINCIPAL SPONSORS AWARD – $50,000 cash and $50,000 in-kind support

Mitsubishi WA Innovator of the Year Award

Grand prize open to WA entrants/companies with an ABN/ACN that have developed an outstanding innovative product, technology, process or service that clearly demonstrates an economic, social or environmental benefit to Western Australia. The winner of this award will be chosen from among all the entrants.

CATEGORY AWARDS – $25,000 cash and $25,000 in-kind support

Start-Up category

Open to WA entrants/companies with an ABN/ACN which have developed their product or service from an idea, and can clearly define the problem it solves. The innovation must be in the pre-revenue phase and have some form of IP protection or a rapid route to market. Entrants must clearly demonstrate how the product, technology or service has an economic, social or environmental benefit to Western Australia.

Growth category

Open to WA entrants/companies with an ABN/ACN that have developed a marketing plan, and sold, implemented or licensed a product, process or service. This category is open to companies that may already have an existing innovation that is currently generating revenue.  Entrants must clearly demonstrate how the product, technology or service has an economic, social or environmental benefit to Western Australia.

For further information visit WA Innovator of the Year Award.