A new medical drink to manage dementia and a website security program to protect against automated attacks are among 24 innovative Australian businesses to receive a $11.2 million kick start to commercialise products for Australian and international markets.
The funding, provided under the Entrepreneurs’ Programme’s Accelerating Commercialisation element, will support the businesses to conduct commercialisation activities, proving the viability of their products, processes or services and preparing them for market.
Funded projects include an innovative web security application, welding-free pipe fitting technology for the oil and gas industries, a medical food product to manage early Alzheimer’s dementia, and an intelligent train control system for heavy haul railways, amongst others.
These businesses are based in both regional and metropolitan locations around Australia, showing that innovation is not just confined to the big cities.
This is about helping businesses take smart ideas from the drawing board to products and services for Australian and international markets and creating new job opportunities for Australians.
The Programme’s experienced Commercialisation Advisers will help the recipients to navigate this often challenging stage of product development.
Businesses are required to dollar match the grant funding.
Accelerating Commercialisation Director Larry Lopez said these businesses were among 234 Australian businesses to have benefited from more than $117 million in Entrepreneurs’ Programme funding to date.
“The Entrepreneurs’ Programme, through the Accelerating Commercialisation element, supports entrepreneurs, researchers and businesses to find the right commercialisation solutions for their novel product, process or service as they work towards achieving success in the global marketplace,” Mr Lopez said.
The 24 projects offered support include:
- software enabling blind and vision impaired people to interact with websites and access web-based business and government services
- pipe fitting technology that does not require welding or swaging, reducing down time for businesses in the oil and gas, marine, food and agriculture industries
- an effervescent medical food drink for medically supervised use to manage early memory loss and Alzheimer’s dementia
- a 3D cell tower visualisation and analysis service for the wireless telecommunications industry that reduces costs, improves safety and maximises tower use
- a cloud-enabled, wirelessly charged customer location system for the hospitality sector that saves businesses time and money and improves customer experience
- intelligent, adaptive software for controlling extra-long heavy haul trains that optimises train performance, improves safety and minimises costs
- a website security program that protects against automated attacks and offers greater cost effectiveness, higher security, and simpler implementation for businesses
- an organic waste management solution that produces cost-competitive biological fertiliser for agricultural markets
- sustainable aquaculture techniques that allow fish farming with a smaller footprint and better filtration.
Source: Australian Government