Last week, the Labor Government renewed its commitment for Commercialisation Australia, allocating $278 million over five years to the program. Commercialisation Australia will receive $82 million annually thereafter. Since it opened for business, Commercialisation Australia has invested $45 million in 115 projects. Twenty-nine companies, entrepreneurs and inventors have recently been awarded funding totaling $13 million through the Commercialisation Australia program.
Twenty-nine companies, entrepreneurs and inventors will share the funding, being provided through the Government’s Commercialisation Australia program. The Government is investing over $13 million in new Australian inventions — including an influenza test kit for pandemics, a bioherbicide to counter an invasive weed and a livestock pest control system — to help turn them into the commercial success stories of the future.
Getting a product into the marketplace requires a complex mix of technical understanding, market insight and financial resources. Through Commercialisation Australia entrepreneurs and inventors navigate these processes and take-up opportunities.