South Australia offers A$250,000 prize pool and attractive incentives to kickstart innovator ideas

South Australian Government

MEDIA RELEASE, December 10, 2021 – South Australia will reward entrepreneurs with a A$250,000 prize pool and attractive incentives in a global challenge to put the state’s critical minerals sector on the map.

Run by the Government of South Australia and Unearthed, the Thinking Critical South Australia challenge focuses specifically on manufacturing and processing ideas to help build the state’s critical minerals ecosystem.

“The Government of South Australia is investing in the future, helping to grow the state’s critical minerals capabilities,” said Executive Director, Mineral Resources, Department for Energy and Mining, Alex Blood.

“Thinking Critical South Australia is focused on attracting the best, most innovative proposals from individuals and businesses across the globe and supporting them to set up operations here in South Australia to contribute to this growth.”

In addition to the A$250,000 financial prize pool, Thinking Critical South Australia is offering five finalists once-in-a-lifetime incentives such as marketing and promotional assistance, access to professional networks, and business development opportunities.

“In establishing operations in South Australia, finalists have the opportunity to leverage world-class resources and research facilities and have access to a rich network of customers, suppliers and investors,” said Unearthed Innovation Systems Partner Lizzie Brookman.

“The winners will also have the option to relocate to prosperous and beautiful South Australia, with Adelaide recently judged the third most liveable city in the world by the Economic Intelligence Unit.”

Critical minerals are metals, non-metals and resources deemed essential to the world’s economies and whose supply may be disrupted or at risk.

A global critical minerals hotspot, South Australia contains 65 per cent of Australia’s copper, graphite and zircon as well as halloysite, cobalt, rare earths and magnesite.

With global net zero policies and new technology advancements driving unprecedented demand for critical minerals, the Thinking Critical South Australia challenge is a fast-track to economic prosperity.

To be eligible to enter, an entrepreneur or business must be a registered, non-government business or non-for-profit organisation; are, or will be involved in the critical minerals value chain and willing to register their operations in South Australia.

The Thinking Critical South Australia challenge is a two-round challenge. The first round closes 28th February 2022.