Funding for a stronger economy
23 July 2019
The Morrison Government is backing the manufacturing, cyber security and food and ag-tech sectors, with funding for projects which help start-ups get off the ground.
Three businesses will share in more than $1 million under the Incubator Support initiative to help entrepreneurs turn their ideas into reality.
Minister for Industry, Science and Technology Karen Andrews said supporting these ideas was vital to growing the nation’s economy and creating jobs for Australians.
“Being innovative and embracing technology is essential for industry to continue to flourish and to create new jobs,” Minister Andrews said.
“These start-ups will be able to prototype, pilot and produce products, which can strengthen traditional industry in Australia, as well as be sold around the globe.
“Their work will also strengthen our cyber security capabilities, which presents many economic opportunities.”
The latest funding offers will assist:
- Melt Accelerator’s (NSW) growing and scaling hardware start-ups project, which will revolutionise the way hardware start-ups prove, prototype, pilot and produce globally scalable products and companies.
- Canobolas Ventures’ (NSW) Sparklabs Cultiv8 Stretch project: a program to support start-ups with crucial connections and networks, including access to leading investors, researchers and customers.
- Cyrise Accelerator’s (VIC) world-class cyber bootcamps for aspiring start-up founders project to develop the skills needed to build and grow a global start-up.
Since 2016, $19.5 million has been invested under the Incubator Support initiative, which is part of the Coalition’s Entrepreneurs’ Programme.
This latest round of funding builds on the Morrison Government’s commitment to strengthening Australian industry, with a plan to create 1.25 million jobs over the next five years.
For more information on the Incubator Support grant recipients go to www.business.gov.au/incubator-recipients
Media contact: Minister Andrews' office 02 6277 7070