$14.6 MILLION TO HELP DRIVE INNOVATIVE AUSTRALIAN BUSINESSES

Twenty-four more Australian companies will take their innovative ideas into the global marketplace under the Australian Government’s Entrepreneurs’ Programme.   

Industry and Science Minister Ian Macfarlane today announced a further $14.6 million in commercialisation investments under the programme. 

The Minister said the funding will offer a real boost to business competitiveness and represents a strong investment in Australia’s growth sectors.

“Australia needs to turn our great ideas into commercial products to keep up with the global economy,” Mr Macfarlane said.

“The Government’s Entrepreneurs’ Programme supports innovation in Australian businesses and helps them overcome commercialisation challenges when bringing novel products, processes and services into the marketplace.

“Commercialisation drives business growth and competitiveness while also delivering national economic benefits by helping to ensure that Australia’s wealth of intellectual property is more effectively commercialised.

“This announcement brings the total amount through commercialisation investments in innovative Australian businesses to over $30 million since April this year, with 55 companies benefitting from Australian Government Entrepreneurs’ Programme funding.

“Further investments will be announced as the programme continues to deliver results.”

The twenty-four projects funded for commercialisation in this round include:

·         A world-first explosion and waterproof insulated volt connection system for use in the mining, tunneling, marine, construction and power transmission industries

·         An innovative hospital operating theatre management system for clinicians to improve hospital surgery administration, logistics and procedures

·         A cloud computer platform which provides the IT tools needed for businesses to deliver and store an IT environment anytime, anywhere and on any device, and

·         A world-first UV filter technology to be used in cosmetics, sunscreen, sunglasses, plastics, UV film, paint and wood coating industries to provide consumers with superior UV protection from the sun.