Funding of AU$10 million for the commercialisation of 23 inventions was announced by Kim Carr, Australia’s innovation minister, on 5 December
The money is provided through the government’s Commercialisation Australia programme. Five of the projects are focused on health and medical areas, including the treatment of chronic stress, the production of healthier foods, and combatting hearing loss. Others include an invention to increase the payload of trains and seven in the ICT area.
“We need more Australian inventions making it out of the laboratory and into the marketplace,” said Carr. “The Australian Government is committed to backing Australian inventors who push the envelope and strive to create new and better products,” he added.
Commercialisation Australia was launched two years ago and has supported 177 inventions with AU$71.7m in funding.