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High performing SME wins national technology award

3 November 2016

Melbourne-based company Independent Products has won a national award for the excellent work it has done to develop technology that is helping to improve the energy efficiency of air conditioners.

The Assistant Minister for Industry, Innovation and Science, Craig Laundy, congratulated Independent Products on its award, which was announced at last night’s Australian Technologies Competition (ATC) final and Gala Awards Dinner in Sydney.

The ATC provides mentoring for innovative Australian SMEs, and awards those who are best positioned to become global success stories.

To deliver industry specific outcomes, the competition has a strong commercial focus.

This year the competition aligned its award categories with the government’s Industry Growth Centres Initiative sectors.

The prestigious competition awarded industry leading innovators in the sectors of energy, advanced manufacturing, food and agribusiness, mining technologies, medical technologies and pharmaceuticals and cyber security. An award was also given for smart cities.

The 146 SMEs that entered this year’s competition have spent a total of $190 million developing their technologies across a range of fields, employing 600 people in the process.

Independent Products was selected as the winner ahead of 37 semi-finalists from across Australia.

“While many of the semi-finalists are already selling their solutions, they are jointly seeking an additional $45 million to bring all the solutions to market,” Mr Laundy said.

“To help make this happen, all have an opportunity to take part in the unique ATC Investor Connect speed-dating sessions with over 20 interested investors.”

Representatives from Growth Centres–Food Innovation Australia Limited, METS Ignited, MTP Connect, National Energy Resources Australia and the Cyber Security Growth Centre–presented the relevant awards on the night.

“This competition demonstrates the vital contribution high-tech SMEs make to the Australian economy,” Mr Laundy said.

“Technological solutions for food, agriculture, energy, mining, cities, medicine and cybersecurity will create new knowledge and grow skills-intensive industries that will be integral to Australia’s future.”

In its six years of operation, the Australian Technologies Competition has identified more than $250 million dollars in contestable project opportunities for Australian SMEs.

Media contact: Mr Laundy's office 02 6277 4345