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$7.6 million to help Australian businesses bring new products to market

$7.6 million to help Australian businesses bring new products to market

Posted by ajaxmac in on 18 November, 2016

The Minister for Industry, Innovation and Science, Greg Hunt announced that 22 Australian businesses have been offered commercialisation grants under the Entrepreneurs’ Programme.

The Entrepreneurs’ Programme is the Australian Government’s flagship initiative for business competitiveness and productivity at the firm level.

The $7.6 million has been offered to assist the 22 Australian companies across key industries undertake development and commercialisation activities to bring their new products and services to market.

The products and services supported by this funding include:

  • 3D ‘laser eyes’ for self-driving cars that helps them navigate complex urban environments. This technology is small, cheap, ultra-reliable and immune to interference, making it ideal for driverless cars.
  • A personal safety monitor for the heavy industrial, oil and gas, and mining sectors that will alert a remote operator to potential hazard locations for workers and provide emergency communications to them.
  • Software and technology to enable doctors and biomedical engineers to plan patient specific orthopaedic surgeries using customer orthopaedic devices, cutting costs and improving patient outcomes.
  • A peer-to-peer mobile-based marketplace for selling pre-loved goods that allows sellers to donate portions of their proceeds to charity, club, and school fundraising.
  • New marine safety equipment that will help save lives at sea in the event of an emergency.
  • Solar powered refrigeration equipment designed for use in remote areas, with potential applications including for produce, food, medicine, emergency services and defence.
  • The Entrepreneurs’ Programme commercialisation grants help Australian entrepreneurs, researchers and small and medium businesses find commercialisation solutions.

It aims to:

  • accelerate the commercialisation of novel intellectual property in the form of new products, processes and services;
  • support new businesses based on novel intellectual property with high growth potential; and
  • generate greater commercial and economic returns from both public and private sector research and facilitate investment to drive business growth and competitiveness.

Further information on the Entrepreneurs’ Programme and the grant recipients is available on business.gov.au or call 13 28 46.