International waste leadership and innovation funding for Innovyz

Adelaide is hosting the Seventh United Nations Regional 3R Forum in Asia and the Pacific — the world’s largest waste and recycling sector forum — with more than 350 ministers, government officials and business leaders from 40 countries meeting to guide policy and strengthen international co-operation in the 3Rs: waste reduction, recycling and reuse.

The State Government has today also announced $750,000 for South Australian company Innovyz to help them develop up to 10 new companies to become leading innovators within the waste and recycling sector.

Since 2012, Innovyz has helped new companies raise more than $30 million to bring new ideas to market — companies which now have a combined estimated capital value of $214 million, and growing.

From the funding announced for Innovyz today, significant benefits will include local jobs in each of the companies created, and export revenues.

South Australia leads Australia and the world in the $1 billion waste sector that employs almost 5000 South Australians, with a recycling rate of almost 80%.

“Our state is recognised globally for its leadership in waste management, including our 1977 container-deposit legislation, action on plastic shopping bags, and landfill bans on e-waste and globes,” said South Australia Premier Jay Weatherill.

“Our leadership continues as we transition the State’s economy, and companies like Innovyz — which commercialises research and innovation through mentoring and business development — are a great example of local business backing innovative thinking.”