Industry Minister Ian Macfarlane has announced $23.4 million in commercialisation grants for companies and researchers.
The grants are to support translation of ideas under the Australian Government’s Accelerating Commercialisation programme.
“These Accelerating Commercialisation investments will help eighteen innovative Australian businesses get their ideas to market. Importantly, the $10.6 million of Government funding is more than matched by investment from businesses themselves, leading to a total value for the projects of $23.4 million,” Mr Macfarlane said.
“Australia needs to turn great ideas into commercial products to keep up with global markets, and this investment will assist with that process across a range of sectors.”
The grants include $1 million for MyHealthTest to back commercialisation of their emerging dry blood spot pathology testing, $987,500 for Maverick Biomaterials to invest in advanced manufactured materials for percutaneous valvular devices in pilot plant, $391,800 to Dr Greg Szto for the validation of an oral disintegrating tablet platform technology, and $375,783 to Biosensis for a new blood and saliva biomarker assays of disease
“Accelerating Commercialisation will drive business growth and competitiveness and deliver nationwide economic benefits by helping to ensure that more of Australia’s wealth of intellectual property is effectively commercialised,” Mr Macfarlane said.
“Commercialisation Advisers guide businesses through the commercialisation process. Eligible businesses may also receive financial assistance in the form of a matching grant of up to $1 million.”