Australian Business

14 Aussie businesses get $7.4m to innovate for the future

14 Aussie businesses get $7.4m to innovate for the future

The funding will help get their innovations into domestic and international markets.

Grants worth more than $7.4 million will support 14 businesses to conduct commercialisation activities, prove the viability of their products, processes or services and prepare them for the marketplace. The funding has been provided from the Accelerating Commercialisation part of the Entrepreneurs’ Programme.

What are the grants for?

The grants will help businesses turn good ideas into marketable products through activities such as trials, upscaling and connecting with new markets.

Commercialisation Advisers from the Programme work with the businesses through the different stages of their business building process to guide and assist and provide advice that is right for their situation.

So far 298 Australian businesses have benefitted from commercialisation funding u through the Entrepreneurs’ Programme.

What projects are being funded?

The latest funding offers will assist a:

  • South Australian company to commercialise their smart solar lighting modular system for public places. This technology provides brighter, longer lasting solar lighting at competitive prices for government, councils and mining companies.
  • Queensland company to develop an ultrafast video compression software (Codec) that will transmit virtual reality and augmented reality data over 60GHz, Wi-Fi, 5G or the internet.
  • New South Wales company to develop an online artificial intelligence assistant for school teachers worldwide. This technology will provide teachers with a curriculum mapped personal teaching program.
  • Canberra company to develop prototype technology to forecast rain and storm days ahead of time. This technology offers significant benefits to transport, insurance energy and natural resources industries.

What to do:

Original article appeared first at Business.gov.au >

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