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Taking products to market with $3.5 million in Government funding

30 July 2018

Eleven businesses across Victoria, New South Wales, Queensland and South Australia have been offered $3.5 million of Accelerating Commercialisation (AC) funding, bringing them closer to launching their innovations in local and international markets.

The AC grants enable businesses to undertake important commercialisation steps like product trials and market testing to developing sales and export plans.

Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said the latest offers of AC grants was very encouraging as it demonstrated how entrepreneurial Australians play a pivotal role in driving innovation in Australia.

“The Australian Government’s commercialisation support helps businesses prove product or service viability, and in some cases, take their innovations to the global market.

“The grants are part of the Government’s Entrepreneurs’ Programme, and to date, 328 grants worth more than $163 million have been provided to Australian businesses to commercialise their ground breaking technologies.

“The Programme has a proven track record in supporting businesses to develop and commercialise new products, processes and services that will improve business capability, competitiveness and promote economic growth in Australia,” said Minister Laundy.

The latest AC funding offers will assist:

  • Three Queensland businesses – Unattended Technologies in Noosaville; Provectus Algae in Peregian Springs and Champion Life Education in Sunshine Beach
  • Four NSW businesses – Lumi Co in Kiama; Scalamed in Bondi Beach; Hygenie in Wagga Wagga and Preventure in Pyrmont
  • Three South Australian businesses – Innoveco in Ingle Farm; Shadepower Group in Lonsdale and Designer Shakes in Plympton
  • One Victorian business – Buymestuff in Melbourne.

Each of the grants offered by the Australian Government will be matched by industry funding.

More information on the grant recipients is available at www.business.gov.au/ac-funding-offers.

For more information about how to apply for an Entrepreneurs’ Programme commercialisation grant go to www.business.gov.au/ep

Media contact: Minister Laundy's office 02 6277 7610