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NEWS AMAZON DRIVES INNOVATION WITH SMB GRANTS New research from Amazon Launchpad reveals 92 per cent of surveyed Australian small and medium sized businesses (SMBs) feel optimistic for the future, despite challenging times. Commissioned by Amazon Australia, the ‘Amazon Launchpad Innovation Report’ explores current sentiment among Australian SMB owners, how they evolved their businesses while in lockdown, and their plans as Australia travels the road to recovery. The research reveals that Australian SMBs have been innovating in times of uncertainty, with SMBs surveyed noting isolation helped them innovate for the future (28 per cent), refresh their business plan (35 per cent) or focus on creativity (38 per cent). During this time, around a quarter of SMBs surveyed also said they were able to innovate by exploring new revenue streams or launching online. Further, around one in six said they innovated by creating new products or transforming their products, while one in five planned for or built a new business or product strategy to move forward. To help propel this “swell of innovation”, Amazon Australia has launched Amazon Launchpad Innovation Grants, an initiative to recognise innovation by Australian start-ups, entrepreneurs and SMBs. Five grant packages will be awarded, each valued at more than $80,000. “More than a quarter of SMBs (29 per cent) said the lack of available funding is the biggest barrier to innovating or growing the business for the remainder of 2020 and more than half (55 per cent) lacked guidance or mentorship during this time,” Amazon Australia Head of Launchpad Chadd Ciccarelli said. “We hope that the new Amazon Launchpad Innovation Grants will catapult a new wave of small businesses who have evolved during this time to continue creating and transforming products.” Each Amazon Launchpad Innovation Grants package is worth more than $80,000 and includes a $20,000 cash grant, plus Amazon marketing support, AWS Activate credits and exclusive access to mentors such as Amazon leadership and entrepreneur experts from Australia and Amazon headquarters in Seattle, US, time with successful “ecommerce savvy” Australian SMBs, and insights from angel investors in the venture capital community. To help select the grant recipients, Amazon Launchpad has recruited “SMB experts” Carl Hartmann, “serial entrepreneur” and co-founder of non-alcoholic company Lyre’s Non-Alcoholic Spirts, and Renae Smith of “healthy” baking goods brand Bake Mixes. The Amazon Launchpad Innovation Grants entry period closes 24 August 2020. The five grant recipients will be publicly announced in September. BUY AUSSIE NOW WITH NEW ONLINE PLATFORM Buy Aussie Now, claimed to be Australia’s first marketplace for Australian made goods by Australian owned businesses, launched in mid-July. Starting as an Instagram page in mid-March as the nation prepared for the pandemic shutdown, Buy Aussie Now is “expected to be the online destination for Australians to shop Australian”. To date, it’s said that more than 2,000 small and medium-sized businesses have already registered through the Buy Aussie Now website across eight launch categories: home and living, toys and education, apparel and footwear, jewellery and accessories, food and beverage, pets, skin care and beauty, and gifts, while additional categories will be unveiled in coming months. Founder and Managing Director Mitch Catlin says he is thrilled to be bringing this “Australian first” concept to market. “My business, like many other Aussies, was hit badly in late March when the marketing sector pretty much came to a standstill,” he said. “I turned to creating a community of other businesses that were stressed and anxious, and I was just so overwhelmed with the number of Aussies who needed help and mateship during a tough time. Thousands of people were, and still are, worried for their livelihoods. This is how Buy Aussie Now was born. “I think the thing that surprised me most over the past few months is just how much wonderful product is made at home, but many of us simply don’t know about it. They do now! Buy Aussie Now will be the one- stop shop that Aussies can trust to buy Australian.” The Buy Aussie Now platform is free for businesses to upload and promote their products to a wider Australian (and potentially overseas) audience. Australian businesses that list are charged only when they make a sale, with a transaction fee of up to eight per cent, plus payment processing. However, all non-for-profits in Australia, along with any indigenous owned businesses, will not be charged. 6 CONVENIENCE WORLD JUL/AUG, 2020