Australian med-tech manufacturer LBT Innovations has secured a $4 million grant from the South Australia government to create jobs around the development of artificial intelligence (AI).
Based in Adelaide, LBT Innovations has expanded its team in the past year, to focus on maximising its world-first AI platform, which uses machine learning and intelligent imaging in healthcare.
The funding will allow the company to recruit a further 16 full-time staff members in the area of AI, science and software engineering over the next two years.
“We are very grateful for the continued support and $4 million of funding from the South Australian government,” said LBT Innovations CEO and managing director Brent Barnes.
“We have established a highly skilled team who are PhD qualified in the areas of science, statistics and AI technology. This new funding will enable us to continue to engage world-class people in [these areas].”
LBT Innovations has two products in microbiology automatio – MicroStreak, which provides automated culture plate streaking, and the Automated Plate Assessment System (APAS).
“LBT’s expansion in South Australia is a job-delivering win for the state and its life sciences sector,” said South Australian Premier Jay Weatherill.
“Fostering a vibrant digital health ecosystem is an important part of transitioning South Australia’s economy to knowledge-intensive, high-value jobs.”