Ministers for the Department of Industry, Science and Resources
A business incubator helping start-ups fast track new products to the global market and another that works in the clean energy sector are the latest to receive funding from the Liberal National Government’s Incubator Support initiative.
Minister for Industry, Science and Technology Karen Andrews today announced ManuFutures, an innovation hub based in Geelong’s Deakin University, and Sydney-based The Energy Laboratory had each received a $500,000 grant.
“ManuFutures supports emerging advanced manufacturing and cutting edge technology enterprises, creating new-to-market products,” Minister Andrews said.
“The Incubator Support funding will help Deakin develop a unique program that will accelerate its resident start-ups into targeted export growth markets.”
The Energy Laboratory’s project involves expanding its clean energy Acceleration Program to Melbourne, Hobart, Canberra and Lismore, and includes teaching modules, connection with international mentors and the support of four new start-ups in each of these four new markets.
Minister Andrews said ManuFutures and The Energy Laboratory are existing incubators with a proven track record.
“The Liberal National Government is building on industrial strengths, not only for the benefit of the companies but their broader communities.”
“The start-ups assisted by these two incubators will be able to test their prototypes and learn important business skills such as driving sales growth and how to go global.”
“The Coalition recognises the crucial role incubators and innovative start-ups play across the Australian economy in creating high-value jobs, contributing to increased productivity and bringing new products and services to market, that’s why we’re providing this support.”
The $23 million Incubator Support initiative is part of the Coalition’s Entrepreneurs’ Programme.
For more information on the Incubator Support grant recipients go to www.business.gov.au/incubator-recipients
For Incubator Support grant application information, visit www.business.gov.au/assistance/incubator-support
Media contact: Minister Andrews' office 02 6277 7070