Latest Industry Growth Program round awards $28.7 million

The Australian Government has announced $28.7 million in support of startups and small and medium enterprises (SMEs) through the Industry Growth Program.

The Department of Industry, Science and Resources (DISR) says that the Advisory Service has recently reached a milestone in delivering its 1000th report.

Applications to the Industry Growth Program Advisory Service are open to eligible businesses on an ongoing basis. Projects must align to Australian Government priority areas for the National Reconstruction Fund and help build Australian manufacturing capability for the future.

DISR says that innovative SMEs and startups play a crucial role in the economy, but many have difficulty bringing their ideas to market. The Industry Growth Program supports eligible SMEs in their most challenging development phase through tailored advisory services, followed by an opportunity for matched funding grants.

Successful projects in this latest grant allocation include:

• SDIP Innovations: developing an implant system that manufactures bone fillers for use in orthopaedic surgeries.
• Iondrive Technologies: creating a more effective and greener battery recycling process that can recover the separate minerals from Li-ion batteries.
• Caulmar (trading as Hart Marine): developing a specialised hydrofoil boat to transport pilots that will be designed, built and launched in Australia.
   

A full list of Industry Growth Program grant recipients can be found here.

Image credit: iStock.com/Olivier Le Moal