Announcing the new funding the Minister for Industry, Science and Technology Karen Andrews said the accelerating commercialisation grants are also designed to make businesses more globally competitive and resilient – and in turn grow the Australian economy and create new jobs.

“The Morrison Government is committed to supporting Australian businesses to innovate because we know that will see us build on our record 28 years of economic growth and will push us toward the creation of 1.25 million new jobs over the next five years,” Minister Andrews said.

“We are backing Australian businesses that have what it takes to make a mark at home and around the world.

“This is the kind of innovation that makes Australia a strong player in the global innovation ecosystem. It has the potential to change lives and make our industries stronger than ever.”

The Government established the ‘Accelerating Commercialisation’ grants in 2014 and since then more than 410 grants worth $200 million have been offered to Australian businesses.

The Government says the latest funding offers will assist:

• Terra15 Technologies Pty Ltd (WA) with a grant of $947,412 to commercialise their vibration and acoustic sensing platform technology for the resources sector
• Hermetia Biosystems Pty Ltd (HATCH) (VIC) with a $500,000 grant to commercialise their sustainably produced protein-rich livestock feed – made from food waste using insects
• MicroTau Pty Ltd (NSW) with a $484,847 grant to commercialise their technology to print microscopic patterns found in nature, with potential applications in aviation to reduce fuel consumption and furniture manufacturing for matte or antibacterial finishes
• Lachesis Biosciences (VIC) with a $438,000 grant to commercialise their nasal spray for the treatment of dementia associated with Alzheimer’s and Parkinson’s disease
• Blenktech Pty Ltd trading as Hyra iQ (QLD) with a $253,410 grant to commercialise their high-volume contract negotiation software using artificial intelligence for the legal and commercial real estate industries
• Mugenuni Research Pty Ltd (SA) with a grant of $249,997 to commercialise their innovative process for sustainably farming sea urchin without wild catch inputs
• Additive Assurance (VIC) with a $205,000 grant to commercialise their novel quality assurance process for metal 3D printing
• Cardiovascular Technology Services Pty Ltd (SA) with a $101,481 grant to commercialise a device to enable doctors to implant permanent pacemakers more safely and accurately.