The Morrison Government is continuing to support innovative Australian manufacturing projects – including breakthrough medical technologies – through its latest round of Accelerating Commercialisation grants.
Melbourne-based med-tech start-up Cyban Pty Ltd will use its $350,000 grant to commercialise its non-invasive continuous brain oxygen level monitoring device for use in critically ill patients with traumatic brain injuries – helping to eliminate secondary injuries.
Minister for Industry, Science and Technology Christian Porter said medical products were one of the Government’s six manufacturing priorities and it was exciting to see local companies leading the world with innovations that will help improve health outcomes.
“The matched funding for Cyban will help the company commercialise its brain pulse monitoring device, while also helping it to target the US market which is worth an estimated $800 million a year,” Minister Porter said.
“Projects such as this show why the Government is backing our local manufacturers to scale-up and take on new markets, while also helping to boost our local economy and create jobs.”
The three other successful projects in the latest round of Accelerating Commercialisation are:
- Bader Investments (NSW) with a grant of $897,843 to commercialise its AI-enabled eCommerce platform.
- LifeTech Balance (QLD) with a grant of $671,500 to commercialise its innovative product ScreenCoach to help manage healthy screen time for children.
- Monarc (QLD) with a grant of $487,019 to commercialise its automated transport inventory system helping link supply chain companies.
The Accelerating Commercialisation grant is part of the Government’s Entrepreneurs’ Programme, which has provided 535 grants worth more than $262 million to Australian businesses since it was established in 2014.