An innovative joining system for the manufacturing industry and a new design for motorcycle safety helmets to reduce the risk of injury are two of the new ideas to be supported by Commercialisation Australia.
Commercialisation Australia is the Government’s primary source of assistance for businesses transforming their ideas into commercial realities.
Over $2.2 million has already been handed-out in support for eleven new projects, most of which are based in manufacturing. This follows the $9.6 million in funding announced in April.
The funding will support a range of innovations from around Australia, including an innovative joining system for the manufacturing, building materials and construction industries, and light therapy glasses for the treatment of insomnia.
“Increasing our focus on innovation, knowledge-based industries, and new business growth is the key to renewing and growing the Australian economy,” said Innovation Minister, Senator Kim Carr.
“Commercialisation Australia helps bridge the gap between promising ideas and a commercially viable business, which will provide jobs, skills and prosperity.”
In addition to Commonwealth funding, successful applicants will receive the support of a case manager to steer them through the commercialisation process. Case managers will also provide valuable connections to volunteer business mentors, who have direct experience of bringing new ideas to market and will provide helpful input based on specialist knowledge.
Case managers are based across Australia to offer hands-on advice and assistance to participants throughout the whole life of the project.