The Innovation and Advisory Board Program is a Gold Coast Innovation Hub created program supported by the Federal Government.
The program has been designed to support 5 Gold Coast based businesses to develop and grow sustainable international businesses. The 5 successful business owners will participate in a formalised, highly targeted Advisory Board and mentoring program to accelerate scalability.
What is an advisory board?
An advisory board is a group of professionals that provides strategic advice to organisations to help them with internal decision making and strategic vision.
Advisory Boards are a proven model to support business owners and their management teams to access independent Chair’s and industry leading strategic advisors and experts. Advisory Boards generate significantly enhanced economic outcomes. Research shows that businesses utilising an advisory board generated 24% annual sales growth; 18% productivity increase, and 80% would use an Advisory Board again.
Overview of the Program
The successful applicants will receive tailored 1:1 mentoring with the GC Hubs executive/chair in residence, Samantha Kennedy and formal Advisory Board meetings with Board members / Advisors selected specifically to support each business.
To qualify to participate in the Program the business must have evidence that they are Gold Coast based, and either have:
- An annual turnover greater than $220,000, or
- Have raised capital of $500,000 or more, or
- Employ at least 5 people
It is a competitive process for successful companies with high growth opportunities and companies with $millions of investment or revenue / companies of all sizes above the minimum are encouraged to apply.
To be one of the 5 successful companies, we look for evidence of:
- Demonstrated personal leadership from founder(s) who have an interest in engaging with advisors to maximise their growth potential
- Strong signs of high revenue growth potential, competitiveness and innovation
- Evidence of potential to expand into global markets
- Local job creation
The most recent application process closed at 5pm on Monday 4 March 2019.
The next intake will be announced in October after assessment of the potential extension of the program in to a Scale-Up accelerator (a more intensive version of this program). We are interested in hearing from organisations that would like to enter a scale up accelerator – please email firstname.lastname@example.org