$10 million for SME manufacturers to pursue innovation projects

A diagnostic tool to fight cancer and technology to protect businesses from flood losses are among a series of projects backed by the federal government to commercialise and grow.

Minister for Industry, Science and Technology Karen Andrews said the 21 projects sharing more than $10 million are examples of the dynamic business thinking we need to drive Australia’s COVID-19 economic recovery.

“This is Aussie ingenuity at its best – solving real world problems, while driving economic growth and creating jobs,” Minister Andrews said.

“In the post-COVID world, there will be no shortage of opportunity for solutions- focused business minds. The Morrison Government is proud to invest in Australia’s problem solvers, so they can commercialise ideas, take on disrupted world markets and drive our economic recovery.”

GenomiQa will use its $479,405 of funding to commercialise its diagnostic platform to support oncologists to manage patient care. By mapping whole genomes the technology enables more targeted cancer management, which can improve outcomes for patients.

Codestream Solutions will receive $770,396 to commercialise its FloodMapp technology in Australia and the US. The technology can help protect business from losses through its flood forecasting and early warning solution.

Since launching the Accelerating Commercialisation grants in 2014, 477 grants worth, almost $230 million have been offered to Australian businesses.