Leaders in their field invited to seek ILF Grants
The Industry Leaders Fund (ILF) has opened applications to its 2023 study grant program.
Aspiring leaders and business owners are invited to apply for up to$50,000 each in funding to develop their professional careers. ILF scholars have previously studied at global institutions including Harvard Business School, INSEAD, Oxford’s Said Business School, IESE Business School and the Australian Institute of Company Directors.
The ILF aims to generate employment opportunities, improve the local economy and “re-establish a head office mentality” in South Australia by improving management at the C-suite level.
A recent survey of ILF members found participating companies had collectively created 3450 jobs since the scheme began in 2010, at an average cost of $650 a job.
ILF chief executive Geoff Vogt said the figures proved the privately-funded program was one of the country’s most efficient job-creating schemes.
He said the ILF was looking for candidates who could demonstrate their business would add to the size of the South Australian economy rather than “shift deckchairs” by taking market share from competitors. “Governments are reputed to use a figure of $30,000 to $40,000 per job when considering economic development grant applications,” Mr Vogt said.
“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.’’
Entering its 14th year, the ILF has awarded 261 grants totalling $3.2m.Awards on offer this year include the Seeley Award for participants who display innovative engineering approaches to a manufacturing business, and the David B. McNeil Award for the participant who shows the most potential to contribute to jobs growth and prosperity. The Colin J. Peters AM Memorial Award is presented each year to the most outstanding applicant.
Past ILF recipients include Dr Brenton Cooper from digital intelligence company Fivecast, Redarc owner Anthony Kittel and Woodside Cheese Wrights director Kris Lloyd AM.
Applications for this year’s program close on May 31.