Turning Great Ideas Into Great Business

17 Aug 11

Australian inventors are helping improve hospital bedside care, generate zero emissions electricity and keep senior Australians connected with their families and the community, by partnering with the Gillard Labor Government to get their innovative products into the marketplace.

Announcing almost $8 million in funding for 19 innovative Australian companies under the Government’s Commercialisation Australia program, Innovation Minister Senator Kim Carr said the Government was working with innovators to turn research into reality and create a richer, greener and fairer country.

“This funding will help smart companies commercialise their products, delivering a wealth of benefits for Australians,” Senator Carr said.

“For example, Signostics Limited will use the funding to commercialise its new hand-held ultrasound device with the hope of getting it into medical centres around the country. This device could alleviate the need for patients to travel long distances to hospitals for this type of procedure.

“The funding will also help Metis Technologies commercialise its pollution control system for power generation and other industrial processes. This new technology will help industries transform to meet the needs of a clean energy future.”

Since it opened to applications in early 2010, Commercialisation Australia has awarded almost $58 million to 145 Australian companies, researchers and inventors. Funding offers range from $50,000 to $2 million.

Program participants can access a national network of 22 Case Managers, many of whom have built their own businesses and operated at senior levels in start-up and early stage companies across all industry sectors.

“The rich source of market intelligence, networks and business experience grant recipients can access under Commercialisation Australia gives them a better chance of commercial success.”

For more information on Commercialisation Australia, visit www.commercialisationaustralia.gov.au or phone 13 22 56.