Four Australian companies will receive funding through the latest round of the Government’s Accelerating Commercialisation grants program to scale-up their business and bring their products to market.
Melbourne-based med-tech start-up Cyban Pty Ltd will use its $350,000 grant to commercialise its non-invasive continuous brain oxygen level monitoring device for use in critically ill patients with traumatic brain injuries – helping to eliminate secondary injuries.
Minister for Industry, Science and Technology Christian Porter said the Government is continuing to support innovative Australian manufacturing projects – including breakthrough medical technologies.
“The matched funding for Cyban will help the company commercialise its brain pulse monitoring device, while also helping it to target the US market which is worth an estimated $800 million a year,” Minister Porter said.
“Projects such as this show why the Government is backing our local manufacturers to scale-up and take on new markets, while also helping to boost our local economy and create jobs.”
Bader Investments (NSW), LifeTech Balance (QLD) and Monarc (QLD) are the other three grant recipients.
Bader Investments ($897,843) will use the funding to commercialise its AI-enabled eCommerce platform, LifeTech Balance ($671,500) will commercialise its innovative product ScreenCoach to help manage healthy screen time for children, and Monarc ($487,019) will bring to market its automated transport inventory system helping link supply chain companies.
Information on how to join the Entrepreneurs’ Programme is available at www.business.gov.au/ep