Fast tracking innovative ideas from ACT businesses



 

Two ACT businesses will receive Australian Government support to fast-track their innovative idea to new markets.

 

InterfereX Communications Pty Ltd and Liquid Instruments Pty Ltd are amongst twenty businesses across Australia to be offered a total of $11.3 million in Entrepreneurs’ Programme funding to help them commercialise their products and services.

 

Minister for Industry, Innovation and Science Greg Hunt said the commercialisation grants would help businesses develop new processes, products and services.

“Product trials, licensing, and manufacturing scale-up are essential and often challenging steps in taking new products to market,” Mr Hunt said.

“This initiative is part of the Australian Government’s ongoing investment in ensuring businesses can use their innovative ideas to grow and succeed, regardless of their size or location.”

Senator Zed Seselja welcomed the announcement, noting the benefits of the project to the Canberra region. 

“Successfully commercialising more Australian innovations will in turn help to boost industry competitiveness and create growth for our region and for Australia,” Senator Zed Seselja said.

The latest grants offered range from $213,000 to $1 million and are matched dollar-for-dollar by recipients.

So far, the Government has invested $78.1 million since commencement of this initiative – helping 146 Australian businesses to get their products off the ground.   A full list of recipients can be found at business.gov.au/ac funding offers.

 

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