The federal government has offered 11 businesses a share of $6.6 million in funding to help launch innovative products, processes and services locally and abroad.
The commercialisation grants are available to successful recipients through the Accelerating Commercialisation element of the Entrepreneurs’ programme, which is delivered by the AusIndustry division of the Department of Industry, Innovation and Science.
Accelerating Commercialisation provides businesses with access to expert advice and matched funding of up to $1 million to cover eligible commercialisation costs to help them to take novel products, processes and services to market.
Recipients will use the funding to conduct commercialisation activities to help bring their innovative idea to market. Commercialisation Advisers from the Programme will help navigate through the challenging stage of product development.
To date 253 Australian businesses have benefited from the commercialisation funding provided under the Entrepreneurs’ Programme.
According to the federal Government, the latest round of funding will assist:
- A world-first, fully recyclable suite of packaging containers for transporting temperature-sensitive perishable products.
- An automated motor vehicle crash alert device, to help save lives around the world.
- A chilled baby food range for Australian retail and export markets.
For more information, click here
See also: “Previously, the government wouldn’t have engaged SMEs in this way”: Jobs for NSW CEO