The NSW government has recently announced two new initiatives that open up a range of possibilities for companies in the IoT space.

Firstly, the government has upped its innovation procurement threshold from $250,000 to $1 million. This threshold is designed to encourage the participation of small and medium enterprise in trialling innovative solutions to problems in government.

The $1million threshold applies to proof-of-concept testing or outcome-based trials. After the trial period, the process reverts to the normal tender process. However, Genesys sees this as a positive step for start-ups or companies with innovative technologies that need to get that vital first contract to prove their value.

Genesys CEO Geoff Sizer says this is a welcome return to earlier days when the NSW government would form relationships with companies to develop innovative solutions to solve problems. Genesys benefited from this with the Police and Roads & Traffic Authority.

“However, these arrangements were all squashed during the corruption scandals of the 1990s which resulted in an inflexible tender-based procurement process. Lifting the threshold to $1 million means some serious work can be done to develop new technologies for the benefit of the community.”

More information on the innovation procurement threshold can be found at http://bit.ly/2HyN1DB

Secondly, the office of the NSW Chief Scientist and Engineer recently announced a $5million fund for supporting the development of new technologies. The Physical Sciences Fund will be eminently suitable for companies looking to develop new sensing technologies for use in IoT applications.

Genesys has recently been working with the NSW Smart Sensing Network (NSSW), which similarly welcomed the fund. NSSW facilitates collaboration between industry, government and researchers from leading NSW universities, to commercialise advanced researching into smart sensing.

Genesys encourages companies interested in innovating with the IoT to get connected with the right researchers and tap into this funding opportunity.

Further information is available from the website of the NSW Chief Scientist and Engineer.