Funding to help small businesses pursue advanced manufacturing projects has been awarded in Round 4 of the Global Connections Fund (GCF) Bridging Grants.
The 34 projects, 14 led by small businesses and 20 conducted by researchers, share in $1.6 million in funding, distributed in grants between $25,000 and $50,000. The program aims to connect Australian innovation with global sources of funding, as Minister for Industry, Science and Technology, Karen Andrews said.
“These grants provide a critical pathway for Australian businesses and researchers to not only build capacity and skills, but grow in scale to attract potential investment,” said Andrews.
Projects that have received funding in this round span advanced manufacturing, food and agribusiness, medical technologies, and pharmaceuticals. Examples include a safer cochlear implant survey and machine learning for diabetes management.
“Through this fund we are supporting Australian businesses and researchers to engage with international partners and undertake product development, market testing and commercialisation activities,” said Andrews.
Previous funding recipients have gone on to find global capital sources that have seen projects through to commercialisation.
“Past Bridging Grants have helped recipients collaborate with partners from 31 different economies, raising working capital of almost $9.5 million – meaning every government dollar has been leveraged more than twofold,” said Andrews.