Commercialisation Australia dishes out $3.7 million to nine start-ups
Monday, November 7, 2011/
A sports exchange platform and grey water recycling equipment are among the nine innovations that will share in $3.7 million under the latest funding round from Commercialisation Australia.
A government-funded program, Commercialisation Australia helps researchers, entrepreneurs and innovative companies convert their ideas into successful commercial ventures.
Since its launch less than two years ago, the program has distributed more than $61 million to some 154 recipients, in addition to expert advice from its national case manager network.
The latest round of recipients include three clean tech projects, including a low-cost grey water treatment and a technology that could increase fuel efficiency in cars.
Green Distillation Technologies, based in NSW, has received $438,440 to produce oil, carbon and recover steel from old tyres, which in turn will reduce oil imports to Australia.
Proof-of-concept funding will allow construction of a commercial production module, following a successful pilot plant trial proving the technology.
Meanwhile, Aerofloat – also based in NSW – has received $310,957 to provide a treatment solution for houseboat grey water on Australian inland waters.
The project will develop and commercialise a larger model to penetrate new markets, namely the residential water reuse and industrial wastewater markets, both nationally and internationally.
There is significant interest in India to use the product to treat grey water for reuse in toilet flushing.
Five ICT inventions will also share in the funding, including a web platform that helps sporting organisations and networking software enhance online games.
Victoria-based business Learning Frameworks offers web-based services to improve the outcomes of self-directed and mentored learning in an online environment.
The project aims to integrate learning, and knowledge capture and sharing, to improve learning outcomes and grow the capacity of club-based sporting organisations.
Using a $127,877 grant, Learning Frameworks will complete its software platform for the beta release of the world’s first global knowledge exchange for sport.
But it was fellow Victorian company Whispir that received the largest grant, walking away with $2 million to develop and commercialise its cloud-based engagement platform.
The final recipient was South Australian company Ceridia, which has developed a drug reformulation system used to improve the performance of new and existing medications.
A $48,800 grant will be used by the company to support planning in preparation for clinical development and equity investment.
According to Innovation Minister Kim Carr, too many Australian inventions never make it to market, so Commercialisation Australia aims to change this.
“This funding will help enterprising companies commercialise their products so they can really make a difference where it counts,” he says.