$5 million to push Australian innovations towards commercial reality
7 August 2017
A process to convert waste plastics into fuel and chemicals, a fashion fitting solution for online shoppers and a new energy storage system are among eight Australian innovations to share in $5 million to help them become commercial reality.
The assistance under the Entrepreneurs’ Programme Accelerating Commercialisation element will help turn the business’ good ideas into marketable products through market trials, upscaling, proving new technology, and connecting with markets.
The innovations offered commercialisation assistance include a solution to the bane of online fashion buyers and sellers, poorly fitting clothing. Style Atlas is a fashion fitting solution that allows customers to know if the clothing they want to buy online will fit.
1414 Degrees will develop a commercial-scale demonstration system for a low cost and highly scalable energy storage system that can be sited anywhere on an electricity grid, including small industrial sites.
Once again, the successful applicants include a pleasing mix of businesses based in regional and metropolitan areas around Australia.
This funding is offered on a dollar-matched basis to help Australian businesses turn their great ideas into commercial realities in Australian and international markets, growing businesses and jobs for Australians.
Entrepreneurs’ Programme Commercialisation Advisers will work with the successful applicants at each step of what can at times be a challenging path to commercialisation.
Other successful applications include:
- Technology with the potential to divert end of life waste plastics from landfill to conversion into a Plasticrude which can be distilled into valuable fuels and chemicals,
- Commercialisation of a blockchain-enabled commodity management and finance solution creating efficiencies for those in the agricultural supply chain including managing contracts, deliveries and inventory, and
- An electromechanical load management system that replaces human-held rope taglines making crane operations safer in construction and logistics industries.
Accelerating Commercialisation Director Larry Lopez said 242 Australian innovators have accessed more than $122 million in assistance from the Entrepreneurs’ Programme.
“This funding helps entrepreneurs, researchers and businesses take good ideas that have been developed into working prototypes of novel products, processes or services, along the commercialisation pathway to market and generating revenue,” Mr Lopez said.
Information on how to apply for commercialisation assistance through the Entrepreneurs’ Programme is available from business.gov.au/ep and for information on the grant recipients: business.gov.au/ac funding offers
Media contact: Minister Sinodinos' office 02 6277 7070