3 businesses share $1.7 m to support innovative ideas

3 businesses share $1.7 m to support innovative ideas

The grants will help commercialise their innovative products.

Three businesses specialising in the medical and energy sectors will share $1.7 million in funding. The grants have been provided the through the Accelerating Commercialisation element of the Entrepreneurs’ Programme.

What projects are being funded?

The latest funding offers will assist:

  • LineSoft in Redfern, NSW to commercialise their digital twin technology which aims to improve safety and efficiency for electrical utility companies.
  • Gyder Surgical in Mulgrave, VIC to commercialise their surgical navigation system that allows for more accurate hip replacement surgery. The device will help reduce the potential need for revision surgery.
  • Vernx Biotechnology in Southbank, VIC to commercialise their soft gel capsule containing naturally sourced branched chain fatty acids, which aims to improve gut health.

What are the grants for?

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

Experienced Commercialisation Advisers work with the businesses through the different stages of developing their business to provide guidance and advice.

So far 400 Australian businesses have benefited from commercialisation funding through the Entrepreneurs’ Programme.

What to do:

Original article appeared first at Business.gov.au >

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