A new design for motorcycle safety helmets to reduce the risk of injury and the creation of light therapy glasses for the treatment of insomnia, jet lag and depression are among the bright new ideas to be supported by Commercialisation Australia.
Commercialisation Australia is the Australian Government's primary source of assistance for businesses transforming their ideas into commercial realities.
Innovation Minister, Senator Kim Carr, today announced over $2.2 million in support for eleven new projects. This follows the $9.6 million in funding announced in April.
The funding will support an impressive range of innovations from around Australia, including a new livestock management system, a faster and more accurate sepsis diagnosis test, and an innovative joining system for the manufacturing, building materials and construction industries.
“Increasing our focus on innovation, knowledge-based industries, and new business growth is the key to renewing and growing the Australian economy,” Senator Carr said.
“Commercialisation Australia helps bridge the gap between promising ideas and a commercially viable business, which will provide jobs, skills and prosperity.”
In addition to Commonwealth funding, successful applicants will receive the support of a case manager to steer them through the commercialisation process. Case managers will also provide valuable connections to volunteer business mentors, who have direct experience of bringing new ideas to market and will provide helpful input based on specialist knowledge.
Case managers are based across Australia to offer hands-on advice and assistance to participants throughout the whole life of the project.
Details of all the funding offers are attached.
For more information on Commercialisation Australia visit www.commercialisationaustralia.gov.au.
Media contacts: Aban Contractor, Minister's Office, 0457 989 842
Mr Doron Ben-Meir, CEO, Commercialisation Australia, 0402 000 999