The federal government's commercialisation assistance initiative today injected $8.5 million into the start-up sector, helping 10 Australian businesses take their ideas to market.
The successful applicants to the Entrepreneurs' Programme received between $250,000 and $1 million each in assistance for innovations in areas including robotics, agriculture, medicine, tourism, advertising and the environment.
"This support will help the recipients commercialise their ideas so they can take advantage of market opportunities and ensure their intellectual property is protected," said Assistant Minister for Innovation Wyatt Roy.
Almost $1 million will go to a farming company chaired by former Queensland Premier Campbell Newman called Advanced Agricultural Systems, which is developing a robotic farming system called SwarmFarm.
It comprises "small, lightweight robots that traverse fields 24 hours per day, seven days per week, plucking individual weeds out of the ground without using herbicide; or killing them, using microwave and laser technology", according to the company's website.
The innovation is designed to take some of the hard labour out of farming, giving the jobs of planting, weed control, insect control, fertiliser application, irrigation and harvesting to robots.
Another company benefiting from the fund is Eyes Decide, a not entirely uncreepy piece of technology for use in marketing, advertising and social media which tracks eye movements as users stare at their screens. Data about where on the screen people dominate their attention is sold to advertisers in order to better "customise" their content delivery strategies.
Advanced Agricultural Systems has received $999,712 in commercialisation assistance, while Eyes Decide has received $357,403.
Other companies receiving funds from the grant include the developers of the world's first modular hearing aid ($985,330); a web-based CT Image Analysis system that diagnoses and monitors bone health ($1 million); a holographic entertainment centre ($1 million) and a device that uses the Internet of Things to boost yields for oyster farmers ($957,000).
"Innovation is at the heart of the government's agenda, and these are great examples of some of the great ideas coming out of Australian companies," Mr Roy said.
"These innovations provide real-world solutions to problems in agriculture, tourism, health and environmental spheres, among others."
The federal government announced the Entrepreneurs' Programme in late October as the final measure in its $482.2 million Entrepreneurs' Infrastructure Program, which was established in late 2014.
It replaces Commercialisation Australia, a $213 million grant scheme and Labor initiative which was axed in the Coalition government's inaugural 2014 budget.
The Entrepreneurs' Programme has provided 85 commercialisation grants worth more than $46 million since April.
Start-ups applying to the grant are eligible for up to $1 million worth of matching grants, as well as expert advice and networking.
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