Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy has announced six Australian businesses as recipients of a total of $3.2 million funding under the government’s Accelerating Commercialisation initiative.
“The grant will support the businesses to prove their products’ viability, and in some cases, take their innovations to the global market,” Minister Laundy said in a statement.
SupraG Energy, a Monash University spinout company which develops high-value graphene products, is among the recipients. The funding will assist SupraG Energy to establish an advanced manufacturing facility in Melbourne to accelerate the development of its high-value graphene products.
Ailytic, an Adelaide-based software company delivering decision analytics to manufacturing, food and beverage, is another recipient. The company will use the fund to further develop its artificial intelligence software platform for the manufacturing sector that analyses manufacturing processes and optimises production scheduling.
The fund will assist Aurtra in Brisbane to launch its transformer condition monitoring system into the international energy market. Loadpro, also in Brisbane, will use the grant to commercialise its Loadpro X60 truck to fill a product gap for off-highway trucks in the mining and construction industries for extended hauls with less fuel burn.
Liftango in Charlestown, NSW will complete the development of its on-demand logistics solution that will revolutionise the transport industry, and Nodapp in Sydney will commercialise its natural language artificial intelligence platform that writes advice documents in real-time for experts in the financial services, legal, education, environmental safety and healthcare industries.
Minister Laundy said the grants were part of the Australian Government’s Entrepreneurs’ Programme, and play a pivotal role in driving innovation.
“The Entrepreneurs’ Programme has a great track record in supporting businesses to develop and commercialise new products and services that will improve business capability, competitiveness and promote economic growth.
“Each of the grants offered by the Australian Government will be matched by industry funding.”