The Morrison Government is supporting Australian companies to commercialise their innovations, including break-through technologies, as part of more than $12 million in funding for local businesses.
As part of the latest Accelerating Commercialisation grants, 22 projects will share in $12.2 million in funding under the Australian Government’s Entrepreneurs’ Programme.
Amongst the recipients are a range of medical start up businesses with innovations that have the potential to improve and save lives.
- SDIP Innovations, which will use its $1,000,000 grant to commercialise its first-of-its-kind bone implant technology giving surgeons the ability to treat complex and unpredictable bone defects using bone fillers to precisely address patient-specific needs;
- ResusRight will receive $419,799 grant to commercialise its ‘Juno’ clinical training and monitoring system to help train clinicians in newborn resuscitation; and
- DetectED-X will further develop and pilot ImagED, which uses artificial intelligence to help train clinicians and radiographers to better diagnose diseases such as breast cancer through its grant of $530,195.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the grants will help home-grown companies grow, commercialise their products and gain further investments to enter new domestic and international markets.
“We are proud to support Australian companies take their innovative technologies and products to the next level through the commercialisation process,” Minister Taylor said.
“These latest projects are all great examples of Australian innovations – many across high-skilled manufacturing priorities – which have remarkable potential to improve the quality of our lives, create new jobs and support our economic recovery.”
Other successful projects include:
- Southern Ocean SubSea Pty Ltd (VIC) with a grant of $988,400 to develop a state of the art remotely operated vehicle capable of repairing aquaculture nets, which has the potential to significantly reduce costs and risks for the industry.
- Endua Pty Ltd (QLD) with a grant of $998,269 to commercialise its clean energy storage solutions for the offgrid diesel generation market, enabling customers to reliably generate electricity on demand without the need for diesel generators.
- Anderson Horticulture Pty Ltd (NSW) with a grant of $403,558 to develop its micropropagation technology to cultivate more productive and efficient avocado farming practices, and contribute to a more profitable and successful global avocado industry.
- BIOCARBON (NSW) with a grant of $293,840 to commercialise its innovative technology which will support green steel and help steelmakers to decrease their carbon footprint.
- Tribe Technology (WA) with a grant of $864,040 to commercialise its world-first automated Reverse Circulation drilling sampling system which will improve safety in the global mining industry.
The Accelerating Commercialisation Grant is part of the Australian Government’s Entrepreneurs’ Programme, which has provided 573 grants worth more than $281 million to Australian businesses since it was established in 2014.