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22 July 2011
Australians may soon benefit from a natural treatment for osteoarthritis, the improved management of Parkinson’s disease and a baby bottle that eliminates the need to carry separate formula containers, thanks to the Australian Government’s Commercialisation Australia program.
Thirteen companies will share $5 million under the program and get help from highly-skilled case managers and volunteer business mentors, who will guide them through the various stages of commercialisation and build their business.
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Announcing the successful projects, Innovation Minister Senator Kim Carr said the Gillard Labor Government was partnering with Australian innovators through Commercialisation Australia because today’s great ideas will help deliver a richer, greener and healthier tomorrow.
“The Government understands that the commercialisation process can be difficult and our talented researchers, inventors and entrepreneurs can lack the skills and networks needed to navigate through it. This investment aims to help our inventors get their products into the Australian and global marketplace,” Senator Carr said.
Details of the new ideas being funded are attached.
“I launched Commercialisation Australia in January 2010 and since then the program has helped more than 120 innovators and awarded them almost $50 million,” Senator Carr said.
“Some of the success stories so far include Biotech company Immune System Therapeutics, who received $1.86 million in 2010 and has now successfully trialled a breakthrough antibody treatment for blood cancer.
“Biotech start up company NeuClone received $748,655 in 2010 and recently signed a licensing agreement with a major pharmaceuticals company in India.
“Service company Vitural Ark received $250,000 in 2010 and has been named a ‘Cool Vendor’ by leading IT research and advisory company, Gartner, for its management platform, which allows business applications to run on public and private cloud computing infrastructure.”
For more information on Commercialisation Australia, visit www.commercialisationaustralia.gov.au. For more information on the Government’s support for research and development, visit www.innovation.gov.au.
