CASEY mayor Sam Aziz unveiled a $100,000 Innovation Fund at a dinner with business leaders at Cranbourne Golf Club on Thursday 28 April.
Cr Aziz said the fund would make available five interest free loans of $20,000 to Casey businesses to channel into innovative programs and projects.
He said the first allocation will be made on 1 July this year and the fund will expand over time to help foster innovation throughout the business community.
“The loans would be to a maximum of $20,000 per business,” Cr Aziz explained.
“But as the fund grows by $100,000 each year, both the maximum quantum of the loan and the number of businesses receiving it will grow.
“As the years go by, this growth could prove to be exponential and will have a massive impact on driving innovation and growth in Casey.”
Cr Aziz said that innovation was defined as doing something in a new, create or novel way.
“It may involve improving an existing service or product in an original way that increases its utility to the consumer or opens up new markets,” he said.
“It may mean that an idea is radically different or equally it may mean that an idea addresses an everyday process in a revolutionary manner.”
Cr Aziz hosted business leaders in the first of what he hopes will be regular catch-ups over dinner.
“I have called you all together for the first time as key business figures in our city to share your wealth of experience across the municipality and to explore possibilities for the future,” he said.
Jan Vydra from Clyde-based Australian Fresh Herbs explained to the crowd how his company had gone ahead through innovative processes.
He explained how his team employed cloud technology, hydroponic methods and innovative practices to increase crop yield and improve customer experience.
Mr Vydra then joined Ron Weinzierl from APT, Neville Waterman from the Waterman Group and Ray Keefe from Successful Endeavours on stage for a Q&A session.
