13 May 2022
$8.5 million to grow business
The Morrison Government is investing $8.5 million to help businesses in Australia to grow, commercialise new products and create jobs as part of our plan for a strong economy and a stronger future.
Fifteen business across the country will share in $8.5 million as part of the latest Accelerating Commercialisation grants under the Morrison Government’s Entrepreneurs’ Programme.
This investment will support over $17.6 million of projects for innovative businesses to commercialise new products and take them to market so that they can grow and hire more Australians.
Assistant Minister for Industry Development Jonno Duniam said that growing small and medium businesses was a key part of the Morrison Government’s plan for a strong economy.
“Small and family businesses are the backbone of the Australian economy, and our government will always back them in,” Assistant Minister Duniam said.
“The Entrepreneurs’ Programme supports Australian entrepreneurs and small businesses to get off the ground and push on the the next level.
“These Accelerating Commercialisation grants are helping 15 local businesses take that next important step to develop new products and get them to new markets so they can grow and create jobs.
“Projects like these have tremendous potential to support our economic recovery, not just for the businesses receiving direct support, but their customers and partners who rely on the products and capability being developed.
“These investments are only made possible because of our strong economic management.
“Only the Morrison Government has a plan to support Australian businesses to help them to grow and keep our economy strong.”
Some of the businesses being supported through this $8.5 million investment include:
- Seed Terminator will use its $1 million grant to further develop its revolutionary combine harvester attachment, helping cut the costs of weed control for farmers both here at home and in global markets.
- Helitak Fire Fighting Equipment will receive $481,423 to commercialise its expandable water tank that can be attached to Sikorsky S-92 helicopters for use in aerial firefighting.
- Rumin8 will receive $650,000 to commercialise a feedstock additive that reduces methane emissions during livestock production.
- Bioscout will use its $651,000 to take its real-time airborne fungal disease sensor to market, which can help agricultural growers to see potential disease outbreaks before they become symptomatic.
- Navi Medical Technologies will receive $600,000 to commercialise its medical device that will help clinical staff to position catheters in babies to reduce morbidity of critically-ill babies and reduce healthcare costs.
The Accelerating Commercialisation Grant is part of the Morrison Government’s Entrepreneurs’ Programme. Accelerating Commercialisation has supported more than 570 projects with more than $280 million in grant funding since it was established in 2014.
The Entrepreneurs’ Programme has helped over 22,000 business across Australia with tailored services and assitance to grow, innovate and commercialise. On average, these businesses create 3.5 new jobs and generate an additional $1.5 million in turnover each year.
Information on how to join the Entrepreneurs’ Programme and apply for an Accelerating Commercialisation grant is available at www.business.gov.au/ep.