What are the grants for?
+) Medical technologies and pharmaceuticals
+) Advanced manufacturing
+) Food and agribusiness
+) Oil, gas and energy resources
+) Mining equipment, technology and services.
The funding will help each of the 15 businesses push their innovative new products, processes and services out into the marketplace by helping them undertake development and commercialisation activities like product trials, licensing and manufacturing.
The grants are matched dollar-for-dollar by the businesses. So far, 200 businesses have benefited from over $105 million in funding, as well as support from experienced advisers, to get their ideas off the ground.
What projects have been offered support?
+) Innovative visual field analysis, to better diagnose and manage neurological diseases, including diagnosing concussion on the sports field
+) Automation of plant tissue culture production in the nursery, helping industry to improve productivity, reduce planting costs, decrease growing times and produce higher plant quality
+) Ground penetrating radar technology and software for faster, clearer and deeper group location, mapping and imaging of underground utility pipes and cables
+) Pre-fabricated and portable solar arrays for cheaper and faster building of commercial solar systems.
For these benefits, we all hope that business would get profit from the program!