news In a bid to see more Australian products in the global marketplace, the last month has seen a number of startups receiving funding from the Australian Government’s Entrepreneurs’ Programme.
In late October, 20 Australian companies benefited from $7.3 million in commercialisation grants assistance under the programme and, on 19 November, a further 10 firms received a share of $8.5m.
Speaking of the latest round of grants, Assistant Minister for Innovation Wyatt Roy welcomed the funding and said: “Innovation is at the heart of the government’s agenda, and these are great examples of some of the great ideas coming out of Australian companies. These innovations provide real-world solutions to problems in agriculture, tourism, health and environmental spheres, amongst others.”
“This support will help the recipients commercialise their ideas so they can take advantage of market opportunities and ensure their intellectual property is protected.”
To date, the programme has provided 85 commercialisation grants worth more than $46 million to support Australian startups.
The projects supported in the 19 November announcement include:
- A “world first” kinetic manufacturing 3D printer for industrial markets
- The development of an award-winning wave energy converter system
- The world’s “smallest and toughest” reusable arm splint to stabilise and support broken limbs
- A technology platform to link approved pre‐gestational care guidelines with an individual’s health information to help deliver “the best standard of care” in real time.
The creators of robotic farm machines and holographic entertainment systems were also included in the funding.
The October round saw the following products receiving a financial boost:
- Autonomous, robotic machines for use in agriculture
- An Internet-enabled device for assisting movement and control of livestock
- The world’s first modular hearing aid
- 3D holographic room technology for the leisure and tourism market
- More environmentally friendly and cheaper hull-cleaning technology for marine vessels
- State-of-the-art bone scan analysis software for bone health diagnosis and monitoring.
Roy said at the time: “The projects featured in this announcement are brilliant examples of Australia’s innovative ideas, and include the world’s first kinetic manufacturing 3D printer and an award‐winning wave energy converter system.
“The commercialisation of these products will advance our industries and create new opportunities, as well as ensuring Australia’s intellectual property is protected.”
Aside from grants, the government’s Entrpreneurs’ Programme uses facilitators and advisers, drawn from industry, to ensure businesses get the advice and support they need to improve competitiveness and productivity. The main focus is on providing access to the best advice and networks to solve startups’ problems.
Practical support for businesses includes: advice from people with relevant private sector experience, co-funded grants to commercialise new products, processes and services, funding to take advantage of growth opportunities, and connection and collaboration opportunities.
Image credit: Parliamentary Broadcasting