More than 400 participants have received assistance from Commercialisation Australia, the Government’s initiative for helping bridge the gap between innovation and commercial success.
Thirty new projects are also in line to receive support this month, according to a media release from the office of Innovation Minister Greg Combet.
“Commercialisation Australia’s combination of financial and hands-on support is making a demonstrable difference in turning good ideas into successful businesses and jobs,” Mr Combet said.
“This transition is well known in the innovation community as the ‘Valley of Death’ and Commercialisation Australia is a welcome bridge for our innovators and entrepreneurs.”
Commercialisation Australia is a merit-based assistance program that provides a wide range of funding options, opportunities and resources to help Australian companies move forward in their business building process. It also assists researchers and inventors who are looking to commercialize innovative intellectual property.
Successful applicants are assigned case managers that will help them throughout the commercialization process. They are also linked to an expert network composed of members who are willing to impart their skills and experience.
Successful applicants which are part of the latest funding offer include OEM Viridi of Fremantle, WA, and Boss Engineering Pty Ltd of Inverell, NSW, which will receive $1.8 million and $414,000 respectively.
OEM Viridi will establish a state-of-the-art manufacturing facility in Ballarat, Victoria, to commercialise an innovative powder coating process that is more efficient and better for the environment. The innovation will allow a wider range of heat sensitive substrates to be coated more efficiently.
Meanwhile, Boss Engineering will use the funding to commercialize an air seeder technology that will offer major advantages to Australia’s 14,000 large-scale crop growers. Earlier this week we featured Boss Engineering on the news, via sourced information from ABC News.
Boss Engineering manufactures agricultural equipment including rippers, strippers, tillers, planting equipment, large broad acre planters and other accessories. Now they also have a transport division and is looking into diversifying into other markets.
“The Boss air seeder’s innovative design improves on imported models by addressing the common issues of over-sowing and over-fertilising, reducing costs and increasing yields,” according to the media release.
The other successful applicants are Livac Pty Ltd ($250,000), of Warrnambool, Victoria, and Mainstream Aquaculture Pty Ltd ($1.7 million) of Werribee, Victoria.
Minister Combet also announced the appointment of Mr. Tony Surtees, a well-known cloud-based content management expert and entrepreneur, to the board of Commercialisation Australia.