Business Research and Innovation funding cuts regulatory burdens

regulatory

The latest round of the federal government’s Business Research and Innovation Initiative (BRII) will benefit 17 businesses with over $1.6 million in support for the early-stage development of technologies that reduce regulatory processes. 

BRII funding will enable start-ups and small to medium businesses to carry out feasibility studies, with the most successful projects eligible to apply for an additional grant of up to $1 million to develop a prototype or proof of concept. 

“We are backing the great ideas of Australian industry. These BRII grants give businesses the opportunity to work with government to test ideas – which can solve challenges faced by governments but also support the growth of innovative start-ups,” minister for Industry, Energy and Emissions Reduction Angus Taylor said. 

Through the Deregulation Agenda, the government is committed to ensuring regulations are well-designed and fit-for-purpose, minister assisting the prime minister and Cabinet Ben Morton said. 

“This round of BRII is focused on making compliance with regulation as simple as possible, and technology has great potential to reduce the regulatory burden for businesses,” he said. 

It will also provide opportunities for capability development and growth in private industry, assistant minister for Industry Development Jonno Duniam said. 

“When it comes to problem-solving, Australian businesses are amongst the best in the world; and this funding will harness and grow that capacity while solving challenges of national and indeed international significance,” Duniam said.  

The challenges in this BRII round include:  

  • Using technology for remote and automated monitoring of export livestock health and welfare
    • Five projects have been funded under this challenge with grants totalling $499,804. They include 3 Aim Solutions Pty Ltd who will use the funding to develop a new monitoring system that uses sensors, combined with digital and remote data algorithms, to monitor the health of export livestock.  
  • Using technology for real-time and accurate asbestos testing 
    • Five projects have been funded under this challenge with grants totalling $487,573. They include Flawless Photonics who will use the grant to develop a hand-held portable real-time, asbestos sensor using a novel fluorescence-based sensing technology. 
  • Using technology to help identify and assess poor market disclosure by listed companies 
    • Five projects have been funded under this challenge with grants totalling $482,734. They include Bedrock AI who will use the grant to further its language processing technology to analyse disclosures in real-time.  
  • Using technology for a streamlined path to marine autonomous systems assurance 
    • Two projects have been funded under this challenge with grants totalling $199,125. They include Thaum who will use the funding to develop its simulator technology which tests AI generated scenarios that will protect against collisions and harm to marine wildlife. 

Further information on the BRII program and a full list of grant recipients can be found here