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"Industry has welcomed a number of business initiatives to assist South Australian companies in navigating the changing economic environment," said Estha van der Linden, South Australian Head of peak employer association the Australian Industry Group. "Businesses are facing a challenging period with global market uncertainty, and the provision of $5 million to help businesses understand and navigate the international markets is welcomed. "$20 million to support eligible South Australian small and medium businesses and not-for-profit organisations to invest in energy efficient equipment or improvements to reduce and manage energy use and its costs is welcome, with grants ranging from $2,500 to $75,000 providing businesses with the ability to reduce costs on an ongoing basis, rather than a one-off sugar hit. "The $50 million to establish the new South Australian Early-Stage Venture Capital Fund will seek to grow the innovation ecosystem in South Australia. The fund's government backing reduces investment risk and its sector-agnostic approach with deep-tech-friendly provisions creates opportunities for SA companies in emerging technologies like AI, robotics and advanced manufacturing to scale globally while maintaining their local presence. "We are delighted to see the South Australian Government's commitment of $30 million in funding for NCRIS facilities. Given the specialised nature and extended lifecycle of research assets funded under NCRIS, this investment represents a crucial step in maintaining South Australia's research competitiveness. However, significantly more needs to be done to raise awareness among industry of NCRIS capabilities. "We also see as important the $12.1 million over four years for oversight of the Whyalla steelworks' industrial transformation, the divestment of hydrogen-enabled gas turbines acquired as part of the now deferred Hydrogen Jobs Plan, and to explore new investment opportunities in the hydrogen sector. "The $8.3 million for preparations to host COP31 in November 2026 is a worthwhile investment. South Australia's hosting of COP31 will be important to demonstrate our green credentials and to showcase our State and is strongly supported by the Australian Industry Group. "We also welcome the continued support of the South Australian defence industry through a number of initiatives, critical to ensuring local businesses are defence ready. This includes $3.3 million over two years to assist businesses in developing the capability and capacity to enter global supply chains for nuclear-powered submarines and to support the continuation of the Defence Innovation Partnership (DIP). "In the lead up to the State Election in March 2026, the Australian Industry Group encourages the State government to provide a greater focus on initiatives that will change the business environment to deliver a more complex economy rich in R&D, which will in turn develop South Australia's global competitiveness," Ms van der Linden said. |
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