The Industry Leaders Fund (ILF) has opened applications to its 2023 study grant program for executives who can demonstrate their business will add to the size of South Australia’s economy.
Aspiring leaders and business owners are invited to apply for up to $50,000 each in funding to develop their professional careers with the proviso they return to the State to grow their businesses, spread their knowledge, and generate employment.
A survey of the ILF 261-member network shows companies have collectively created 3450 jobs since the scheme began in 2010, up from 2954 last year, at an average cost of $650 per job, down from $700 last year.
“The survey results prove that ILF Scholars are growing their businesses, fast-tracking employment in their sectors and generating wealth at the same time at a rate that well exceeds initial expectations.’’
The privately funded initiative has helped generate more than 3000 jobs in South Australia since 2010, emerging as one of the nation’s most efficient job-creating schemes.
ILF’s founders hoped the Fund would generate employment opportunities, create more wealth and re-establish a head office mentality in South Australia by improving management at the C‑suite level of businesses.
Now in its 14th year, the ILF has awarded 261 grants totalling $3.2m including innovative engineering approaches to a manufacturing business (Seeley Award), the greatest potential to contribute to jobs growth and prosperity (David B McNeil Award) and using technology to solve problems that improve everyday practices (Lumination Award). The Colin J Peters AM Memorial Award is presented to the most outstanding applicant in any year.
Scholars have studied at a wide range of institutions including Harvard Business School, INSEAD, Oxford’s Said Business School, IESE, The University of Adelaide, The University of South Australia, the Australian Institute of Company Directors and Melbourne Business School.
Applications for this year’s program close on May 31.
