Updated: Aug 7
Zelo Pay has passed the govt stress test on what is required to get business back to good corporate citizenship and away from holding onto money that causes stress and concern, especially around cashflow.
11 businesses including in the health, energy and commerce sectors will share in $4.6 million in of Accelerating Commercialisation funding as part of the Entrepreneurs’ Programme.
GenomiQa (QLD) will use its $479,405 of funding to commercialise its diagnostic platform to support oncologists to manage patient care. By mapping whole genomes the technology enables more targeted cancer management, which can improve outcomes for patients.
MGA Thermal has developed technology that stores renewable energy from the sun and wind as heat. The business will use its $495,600 of funding to ensure the technology is feasible on a commercial scale.
To encourage small to medium businesses to pay early, Zelo Trading has developed ZeloPay. The business will use its $282,159 of funding to commercialise its platform that automates, brokers, and incentivises early payments for B2B transactions which, in turn, can help businesses pay their rent and survive in the current environment.
What projects are being funded?
The latest Accelerating Commercialisation grants will also assist:
Capsular Technologies Pty Ltd (VIC) with a grant of $165,000 to commercialise its biopolymer-based vaccines for the agricultural sector and help improve livestock health and productivity.
C & J Lab Pty Ltd (NSW) with a grant of $250,000 to commercialise its Green Feed Additive (GFA) that replaces the use of antibiotics in the livestock and aquaculture feed industries.
Flip Screen Australia Pty Ltd (NSW) with a grant of $824,791 to validate its manufacturing processes for their innovative on-site crushing system for the mining and recycling industries, that achieves high-volume crushing rates with larger ranges of crush sizes for sales in Australian and international markets.
Kynd Pty Ltd (QLD) with a grant of $492,225 to commercialise its disability support data platform and achieve a geographic rollout to deliver national benefits including increased access to disability services, decreased costs through technology efficiency and highly personalised matching of people.
Solar And Storage Modelling Pty Ltd (NSW) with a grant of $580,735 to deploy at scale a global nowcasting offering for the wind and temperature forecasting industry with potential benefits to the energy, transportation and insurance sectors.
University of Melbourne (VIC) with a grant of $200,000 for hardware and software development, user trials, IP protection, establishment of a commercial team and initial business development in Australian and international markets of their imaging tool that can detect tiny organisms such as viruses.
Vapar Innovation Pty Ltd (NSW) with a grant of $490,000 to commercialise its VAPAR web innovation that uses artificial intelligence to automate fault detection directly from the inspection footage of underground water pipes.
Workforce Health Assessors Pty Ltd (TAS) with a grant of $358,292 to commercialise Quescreen, its assessment solution for the employment market.
What are the grants for? The grants help businesses turn good ideas into marketable products through activities such as trials, upscaling and connecting with new markets.
Experienced Commercialisation Advisers work with the businesses through the different stages of their business building process to guide and provide advice. Since the launch of the Accelerating Commercialisation grants in 2014, 467 grants worth almost $224 million have been offered to Australian businesses.