$10M funding gets distributed across small business sector

$10M funding gets distributed across small business sector

Funding aims to help businesses take their products to market.

Credit: Dreamstime

Consilium Technology, IPdata, LoopLearn, Tactical Research and Predikt-R are just some out of the 16 small businesses across Australia set to receive a share in almost $10 million in funding under the Accelerating Commercialisation grants from the Federal Government.

The latest round of funding aims to help these businesses shift their products to market. The program itself was launched in 2014, and has so far allocated 363 grants worth $181.2 million.

Minister for Industry, Science and Technology Karen Andrews said the grants were designed to accelerate the development of high quality projects which had strong local and export market potential.

Some of the companies that will be receiving the funding include two South Australian businesses - Consilium Technology and IPdata.

Consilium will use the funding to help commercialise its geospatial artificial intelligence for agriculture technology, while IPdata aims to commercialise its appraisal software for the subdivision of residential property.

Two Western Australian businesses are also in the list, including Australian Institute of Robotic Orthopaedics, which aims to commercialise and obtain a globally exclusive distribution license for its intelligent robotic laser system.

While Village Energy Group will implement its hardware and software platform for their first customers in India. Specifically, the platform manages demand and supply of electricity in real time.

Victorian-based company, LoopLearn, seeks to complete trials and commercialise its product which automates the roll marking process in schools.

Five NSW small businesses have also been selected in this round including Dosel Australia, which will be looking to take its radiation compliance platform to the US and achieve export revenues. The platform has applications in the hospital, radiology, nuclear medicine, veterinary and dental markets.

Another NSW-based company, Tactical Research will seek to develop, test and prepare for sales of its personnel screening security system for business facilities, public infrastructure and crowded places.

Quality Trade aims to use its funds to help develop and undertake market testing of its trade certification system and The Blueprint Laboratory is seeking help with commercial trials of its lightweight robotic arm for the unmanned underwater vehicle industry.

Five Queensland businesses will also be taking part in this round. Universal Field Robots is seeking funds for implementation trials of a robot that can complete tasks outdoors in agriculture, construction and mining, which will lead to product sales.

Ecojoule Energy plans to commercialise its power electronics products for the electricity grid. The products improve the voltage and reduce the peak load on electricity networks.

Furthermore, GravityFit will be set to commercialise a range of smart functioning training garments for athletes and astronauts, which aim to stabilise and strengthen spine and joints, reduce the risk of injury and improve performance.

Predikt-R aims to complete trials and commercialise a product that predicts workplace safety outcomes to reduce the risk of injuries in high risk markets such as agriculture, manufacturing, construction, transport and mining.

Accelerating Commercialisation grant applications can be lodged at any time for matched funding of up to $1 million to cover eligible commercialisation costs and help companies take their products to market.

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Tags small businessGovernment fundingKaren Andrews

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