Assistant Minister for Innovation Wyatt Roy announced that the programme’s latest commercialisation grants would provide $8.1 million to help a range of innovative products and services break into multi-national markets.
“More Aussie innovators need to take their rightful place on the world stage, reaping the benefits of international exposure while creating a stronger economy for Australia based on creative thinking and entrepreneurial drive,” said Mr Roy.
“Today’s announcement will put 15 more businesses on the pathway towards commercialising their products and launching them into local and global marketplaces.
“These ideas are providing solutions to real-world problems in key industry areas such as medical technologies, advanced manufacturing and food and agribusiness,” he added.
Minomic will receive almost $600,000 for its new prostate cancer test to reduce burden of unnecessary biopsies, while Clarity Pharmaceuticals will receive $1 million for the further development of its SARTATE as a cancer therapy
The latest commercialisation grants range from $150,000 to $1 million and must be matched dollar-for-dollar by recipients.
So far, the Government has invested $62.1 million in the programme – supporting 117 Australian businesses.