20 Mar, 2018
IMR today was informed of the successful awarding of a matched funding commercialization grant from the Australian government. An excerpt from the government announcement is contained below where IMR were specially mentioned out of the 14 business that are to receive a share in the $7.4 million being awarded. IMR was awarded a significant portion of the $7.4 million dollars.
We would like to take this opportunity to thank the Australian government for their forward thinking vision and support of Australian technology and business.
14 businesses to get $7.4 million to innovate for the future
The Minister for Jobs and Innovation, Senator the Hon Michaelia Cash and the Minister for Small and Family Business, the Workplace and Deregulation, The Hon Craig Laundy MP today jointly announced that 14 Australian businesses have been offered commercialisation grants under the Entrepreneurs’ Programme.
The Entrepreneurs’ Programme is the Australian Government’s initiative to improve business competitiveness and productivity. It uses experienced Advisers and Facilitators, drawn from industry, to ensure businesses get the advice and support needed to improve their competitiveness, productivity and to seek growth opportunities.
Grants worth more than $7.4 million have been offered to assist the 14 Australian businesses undertake commercialisation activities to bring their new products, processes and services to market.
Some of the products, processes and services offered support through this funding include:
· Commercialising a smart solar lighting modular system for public places. This technology provides brighter, longer lasting solar lighting at competitive prices for government, councils and mining.
· Developing an ultrafast video compression software (Codec) that will transmit virtual reality and augmented reality data over 60GHz, Wi-Fi, 5G or the internet.
· Developing an online artificial intelligence assistant for school teachers worldwide. This technology will provide teachers with a curriculum mapped personal teaching program.
· Developing prototype technology to forecast rain and storm days ahead of time. This technology offers significant benefits to transport, insurance energy and natural resources industries.
The Entrepreneurs’ Programme commercialisation grants help Australian entrepreneurs, researchers and small and medium businesses find commercialisation solutions.
It aims to:
· accelerate the commercialisation of novel intellectual property in the form of new products, processes and services;
· support new businesses based on novel intellectual property with high growth potential; and
· generate greater commercial and economic returns from both public and private sector research and facilitate investment to drive business growth and competitiveness.