Innovative projects from 14 Australian businesses have been granted government funding, adding to $7.4 million, to assist them through the commercialisation process.
Intelligent virtual technologies to improve workplace safety, smart city solar lighting system and satellite-enabled weather forecasting technology are among the innovations.
The grants are part of the Accelerating Commercialisation element of the Australian Government’s Entrepreneurs’ Programme, which supports businesses on the pathway to commercialisation.
The Accelerating Commercialisation Grant provides projects up to 50% of the expenditure to a maximum of $250,000 for commercialisation offices and eligible partner entities and a maximum of $1 million for all other applicants.
Each government grant is matched by industry funding, allowing each recipient to take full advantage of government and industry expertise. The grant recipients will also receive portfolio services for the duration of the project.
Minister for Jobs and Innovation, Michaelia Cash said, in a media release, the Entrepreneurs Programme had a strong record of supporting innovation and delivering benefits to industry.
“Since 2014, almost 300 Accelerating Commercialisation grants have been awarded to businesses across the country, injecting almost $150 million into our economy,” Minister Cash said.
“The funding has enabled small and medium businesses all over Australia to commercialise their novel products, processes and services, and to grow and create jobs as a result.”
Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said the Entrepreneurs’ Programme works with businesses to ensure their future success.
“The Programme has a network of independent industry advisers and facilitators that provide expert advice and assistance to businesses on their specific requirements,” Minister Laundy said.
“This ensures businesses get the advice and support they need to improve their competitiveness and productivity.”