Five Australian companies will share in almost $5 million to develop new digital technologies which will help make compliance and service delivery easier.
The Regulatory Technology round of the Business Research and Innovation Initiative (BRII) is providing grants in a bid to solve challenges faced by Australian businesses.
Among these promising technologies are potential solutions to monitor the health and welfare of export livestock and a new handheld device which could revolutionise asbestos testing.
Under the Proof-of-Concept stage the companies will share in a total of $4,999,340 to develop a prototype of their novel technologies.
Minister for Industry and Science Ed Husic said his initiative is a great example of how the Australian Government is helping turn great research into tangible improvements for small businesses.
The successful businesses now have the next 15 months to complete their prototype or proof of concept and consider how they could scale up and broaden their application.
At the conclusion of this Proof-of-Concept stage, government agencies may consider purchasing the solution, and the businesses will be able to pursue further commercial opportunities for their products.
Successful projects:
Round Pixel Pty Ltd (Victoria) has been awarded $1 million to further develop the project 'Smart Technology Delivering Animal Welfare and Supply Chain Efficiency', for remote and automated monitoring of export livestock health and welfare.
Eastern Analytica Pty Ltd (DHI-AI PTY LTD) (Victoria) has been awarded $999,650 to further develop the project 'Disclosure Anomaly Detection With Bayesian Networks, QA and NLP' to help identify and assess poor market disclosure by listed companies.
Flawless Photonics Pty Ltd (South Australia) has been awarded $999,690 to further develop the project 'Hand Portable, Non-contact, Real-time Fluorescence-based Asbestos Sensor' asbestos testing technology.
Pag R&D Pty Ltd (Victoria) has been awarded $1 million to further develop the project 'Handheld Microwave Device for Real-Time Asbestos Detection' asbestos testing technology.
Thaum Pty Ltd (ACT) has been awarded $1 million to further develop the project 'Slipway: A toolchain for the risk assessment of autonomous marine vessels'.
