The Minister for Industry, Science and Technology, Karen Andrews MP recently announced the 16 successful companies whose application for matched funding of $9.7m under the competitive Accelerating Commercialisation program has been approved.
The successful companies were:
|Australian Institute of Robotic Orthopaedics Pty Ltd||Aims to commercialise and obtain a globally exclusive distribution license for its intelligent robotic laser system – IRASLAS (Intelligent robotic laser ablation for precision arthroplasty)||$958,146|
|CBG Systems Pty Ltd||To establish a manufacturing facility, production processes, validation trials and an international launch of its fire retardant panels for marine vessels.||$750,000|
|Consilium Technology Pty Ltd||Will nationally and internationally commercialise its Geospatial Artificial Intelligence for Agriculture technology. The technology automatically locates crops and monitors their health, providing data required for precision farming.||$1,000,000|
|Dosel Australia Pty Ltd||To take its radiation compliance platform to the USA and achieve export revenues. The platform has applications in the hospital, radiology, nuclear medicine, veterinary and dental markets.||$748,600|
|Ecojoule Energy Pty Ltd||To commercialise its power electronics products for the electricity grid. The products improve the voltage and reduce the peak load on electricity networks.||$500,000|
|Gravityfit Pty Ltd||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.||$478,950|
|IPdata Pty Ltd||To commercialise in Australia its appraisal software for the subdivision of residential property. The product enables a rapid and precise assessment of land parcels and their subdivision potential.||$386,655|
|Looplearn Pty Ltd||Will complete trials and commercialise its product which automates the roll marking process in schools using machine vision technology with the aim of reducing administrative burden on staff and ensuring the safety of students.||$470,189|
|Lowes TC Pty Limited||To develop a pilot plant to demonstrate its High Health Clonal Plant Propagation process at a commercial scale.||$888,994|
|Precision Pipe Lifter Pty Ltd||To commercialise and develop an intellectual property strategy for a new fitting for the crane and transport sectors. This fitting will allow the safer and more efficient unloading of concrete pipes and culverts from vehicles on-site.||$56,550|
|Predikt-R Pty Ltd||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.||$400,896|
|Quality Trade Pty Ltd||To conduct commercial trials of its lightweight robotic arm for the unmanned underwater vehicle industry.||$537,500|
|Tactical Research Pty Ltd||To develop, test and prepare for sales of its personnel screening security system for business facilities, public infrastructure and crowded places.||$595,600|
|The Blueprint Laboratory Pty Ltd||To conduct commercial trials of its lightweight robotic arm for the unmanned underwater vehicle industry.||$360,286|
|Universal Field Robots Pty Ltd||To conduct implementation trials of a robot that can complete tasks outdoors in agriculture, construction and mining, which will lead to product sales.||$833,118|
|Village Energy Group Pty Ltd||To implement its hardware and software platform for their first customers in India. Specifically, the platform manages demand and supply of electricity in real time.||$750,000|
Accelerating Commercialisation offers matched grants of up to $1 million to eligible small and medium businesses, entrepreneurs, and researchers to address the challenges associated with commercialising novel products, processes and services.
Applicants must meet certain eligibility requirements. If eligible, applications will be assessed through a merit-based competitive process based on:
- Need for funding
- Market opportunity
- Value proposition
- Execution Plan
- Management capability; and
- National benefits.
Applications must meet the following eligibility criteria:
- the applicant must be an eligible applicant; ie a for-profit company registered and operating in Australia
- the applicant must have the ability to fund their share of the project costs;
- the project must aim to produce, establish the commercial viability of, or commercialise a new, clearly identified product, process or service; and it must involve eligible activities;
Successful applicants also receive access to the following services for up to 2 years:
Membership of the Portfolio
The Portfolio brings qualified commercialisation opportunities together in a single place providing visibility and credibility for investors, other entrepreneurs, domain experts, supply chains and strategic corporations.
Guidance from a Commercialisation Adviser
Commercialisation Advisers are independent, professional advisers who can assist by:
- providing access to expertise and specialist advice
- exploring alternative project financing
- aiding in operational matters, as well as project monitoring
- helping develop professional networks.
Access to the Expert Network
The Expert Network will help participants in areas such as management, commercialisation, capital markets and business development. The Network offers knowledge, skills, insights and links to help businesses bring their novel product, process or service to market.
Domestic and International Roadshows
Members of the Portfolio have access to networking and promotion opportunities that are not readily available to other businesses. The activities can include networking events, exposure to international trade missions, or opportunities to join Australian delegations to major global events.
It is advisable to use an experienced grants specialist as the application process is time consuming, taking up to 3 months to complete. Knowing how to present the application to meet all the criteria and rank your project highly is critical. Not all applications are approved so you need to give yourself the best chance to succeed or be advised your project is not suitable, before commencing.
Pattens Group have experience in preparing many successful Accelerating Commercialisation applications. They charge a success fee for application preparation and subsequently managing the approved project
For further information on Accelerating Commercialisation Program
For more information contact Bruce Patten from Pattens Group at email@example.com or on 1800 PATTENS
Written by Bruce Patten: With more than 30 years’ experience claiming government grants, Bruce is regarded as the grants expert. He has a passion for helping new business get off the ground and has a long list of successful clients who have received the government funding they needed for research, development, management, commercialisation, exportation, small business support… and the list goes on.