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Turnbull Government announces $7.6m in grants to help Australian businesses launch new products to market

November 16, 2016 • Grants

The Turnbull Government has announced a $7.6 million funding boost for businesses that have developed innovative new products but need financial support and expert advice to commercialise their ideas.  

Image credit: http://www.business.gov.au/

Image credit: http://www.business.gov.au/

The grants, which are provided as part of the Australian Government’s Entrepreneurs’ Programme on a dollar-for-dollar matching basis, will help twenty-two Australian entrepreneurs, researchers and businesses address key challenges on the pathway to commercialisation.

One of the products that will get a funding boost on its way to market is a device called 3D ‘laser eyes’ for self-driving cars.

This technology is small, cheap, ultra-reliable and immune to interference, allowing driverless cars to navigate complex urban environments.

Another product earmarked for financial assistance is 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.

Some of the other products and services selected to receive a funding boost include:

  • 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.

A total of 168 organisations have thus far benefited from over $85.7 million in commercialisation funding, as well as support from experienced commercialisation advisers.

Australian entrepreneurs, researchers and businesses looking to apply for an Entrepreneurs’ Programme commercialisation grant may do so at: business.gov.au/ep.

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