Twenty-two Australian businesses will turbocharge their bright ideas and take them to market sooner with a $7.6 million boost from the Turnbull Government.
The businesses have all developed innovative new products but need financial support and expert advice to commercialise their ideas.
The grants are provided as part of the Australian Government’s Entrepreneurs’ Programme and each business is matching their grant dollar-for-dollar.
The Entrepreneurs’ Programme offers support to help entrepreneurs, researchers and businesses address key challenges on the pathway to commercialisation.
Some of the products and services that will get a boost on their journey to market include:
• 3D ‘laser eyes’ for self-driving cars that helps them navigate complex urban environments. This technology is small, cheap, ultra-reliable and immune to interference, making it ideal for driverless cars.
• A personal safety monitor for the heavy industrial, oil and gas and mining sectors that will alert a remote operator to potential hazard locations for workers and provide emergency communication to them.
• Software and technology to enable doctors and biomedical engineers to plan patient specific orthopaedic surgeries using customised orthopaedic devices, cutting costs and improving patient outcomes.
• A peer-to-peer mobile-based marketplace for selling pre-loved goods that allows sellers to donate portions of their proceeds to charity, club, and school fundraising.
• New marine safety equipment that will help save lives at sea in the event of an emergency.
• Solar powered refrigeration equipment designed for use in remote areas, with potential applications including for produce, food, medicine, emergency services and defence.
So far 168 organisations have benefited from over $85.7 million in commercialisation funding, as well as support from experienced commercialisation advisers.
For more information on how to apply for an Entrepreneurs’ Programme commercialisation grant go to business.gov.au/ep.
Further information on the grants recipients can be found at business.gov.au/ac-grant-recipients