The federal government has given $1 million to a world-first company cultivating seaweed for reducing livestock emissions to scale up production.
Agricultural science company Sea Forest will use its matched funding to increase supplies of its seaweed additive for livestock feed, which both reduces livestock methane emissions and improves herd health.
Over the last five years, Sea Forest has worked closely with the CSIRO, which developed the innovative Future Feed technology to test and refine its product.
It’s among seven businesses sharing in $4.2 million in matched funding in the latest round of the Accelerating Commercialisation grants.
Minister for Industry, Science and Technology Karen Andrews said Australian businesses are among the most innovative in the world and the Government was pleased to help scale-up their ideas.
“The Accelerating Commercialisation grants are all about investing in the growth of great Australian business ideas that will ultimately change our lives for the better,” Minister Andrews said.
“Through this latest funding, we’re backing projects that will improve agricultural processes and reduce greenhouse emissions, all while growing a developing industry that will create jobs.
Some of the other recipients include Real Thing Entertainment (VIC), with a grant of $1 million to commercialise its artificial intelligence platform. The business gives people who are blind or have little vision the ability to search for audio books from a variety of libraries, talking newspaper collections, podcasts, talking magazines and radio stations using a voice activated portable smartphone.
Agscent (NSW) was awarded a grant of $600,000 to commercialise its agtech solution for improved livestock breeding that uses an animal’s breath to test for pregnancy.
Monsoon Aquatics (QLD) was awarded a grant of $304,058 to commercialise its coral reproduction processes to help rebuild the world’s reefs and sustainably supply aquarium retailers across the world.
Accelerating Commercialisation is part of the Australian Government’s Entrepreneurs’ Programme, which has provided 519 grants worth $251 million to Australian businesses since its establishment in 2014.