Thirty four Australian inventions, including a drug to treat learning and memory loss, an additive to reduce carbon emissions from cement production and a greener hot water system were awarded Commercialisation Australia grants totalling $13m today.
Commercialisation Australia helps innovative companies take their products to the market, creating opportunities for business and high-tech, high-wage jobs for Australians. As well as vital capital, successful individuals and businesses will receive practical support and guidance from experienced Case Managers and Volunteer Business Mentors. There are 20 Case Managers offering support nation-wide.
The Commercialisation Australia scheme provides repayable grants of between $250,000 and $2 million to assist innovative companies to undertake activities that enable a new product, process or service to be developed to the stage where it can be taken to market. The grants are paid on a dollar for dollar basis. Commercialisation Australia awarded a total of $33.6 million for 88 projects in 2010, the scheme’s first year of operation.
For more information on Commercialisation Australia and the support it provides or for more information on support for research and development, contact Pattens on 1800 PATTENS or email grants@patens.com
