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commercialisation

Commercialisation boost for businesses

The Turnbull Government has announced that twenty businesses across Australia will be offered $11.3 million in Entrepreneurs’ Programme grants to help boost commercialisation and break into new international markets.

A 3-D printed jaw joint replacement, termite-proof building materials and a safer way to store grain outdoors are amongst the diverse products and services that will be fast-tracked.

The grants range from $213,000 to $1 million and are matched dollar-for-dollar by recipients.

So far, the Government has invested $78.1 million since commencement of this initiative – helping 146 Australian businesses to get their products off the ground.

The grants help businesses to undertake development and commercialisation activities like product trials, licensing, and manufacturing scale-up—essential and often challenging steps in taking new products to market.

Projects supported by today’s grant offers will address problems and meet needs in key industries including food and agribusiness, mining, advanced manufacturing and medical technologies.

The 20 projects to receive commercialisation support include:

  • a safer, cheaper and more efficient outdoor grain storage solution for the agricultural industry
  • recycling technology for fats, oils and greases from restaurants that will save money and reduce pollution
  • a lighter, stronger and more flexible concrete product
  • an anti-theft automated security system for the retail fuel industry
  • a cheaper, faster and safer decontamination process for mine drainage
  • smaller, cheaper and more patient-friendly MRI technology used for medical diagnostics
  • a 3-D printed medical device for jaw joint replacements that reduces surgery risk and improves patient quality-of-life
  • insect and termite-proof expansion joint foam for the building industry, combining a two-step process into a single product.

The Entrepreneurs’ Programme commercialisation grants help Australian entrepreneurs, researchers and small and medium businesses find commercialisation solutions.

It aims to:

• accelerate the commercialisation of novel intellectual property in the form of new products, processes and services;
• support new businesses based on novel intellectual property with high growth potential; and
• generate greater commercial and economic returns from both public and private sector research and facilitate investment to drive business growth and competitiveness.

This information was first shared by the Minister for Industry, Innovation and Science on 17 August 2016.