Local business, Maverick Biomaterials Pty Limited, will receive a grant to propel their bright ideas into the marketplace under the Australian Government’s Accelerating Commercialisation programme.
Federal Member for Parkes, Mark Coulton announced the grant as part of the $10.6 million Accelerating Commercialisation element of the Australian Government’s $484.2 million Entrepreneurs’ Infrastructure Programme.
“These Accelerating Commercialisation investments will help eighteen innovative Australian businesses, including Maverick Biomaterials, to get their ideas out into the market. Importantly, the $10.6 million of Government funding is more than matched by investment from the businesses themselves, leading to a total value of $23.4 million for the projects,” Mr Coulton said.
“Australia needs to turn great ideas into commercial products to keep up with global markets, and this targeted investment, combined with an investment from Maverick Biomaterials itself, contributes to a significant local investment and commitment to the future of the Dubbo area.”
“Accelerating Commercialisation will drive business growth and competitiveness and achieve nationwide economic benefits by helping to ensure that more of Australia’s wealth of intellectual property is effectively commercialised, including our brightest ideas from businesses based here in Dubbo.”
“Commercialisation Advisers guide businesses through the commercialisation process. Eligible businesses may also receive financial assistance in the form of a matching grant of up to $1 million.”
Maverick Biomaterial’s Business Development Manager, Cameron Crowley, said the Government funding would help Maverick Biomaterials with their development of innovative materials used in the manufacture of percutaneous cardiovascular devices.
“These percutaneous cardiovascular devices reduce patient’s time in intensive care facilities (therefore reducing hospital costs) and allow the device to be implanted into frail patients,” Mr Crowley said.
“Maverick Biomaterials aims to commission a certifiable pilot plant enabling the production of materials, in such a manner so as to support client’s potential on market approval. The Pilot Plant will also inform Maverick Biomaterials of the requirements of a commercial scale facility.”
More information on the projects can be found at this website http://www.business.gov.au/advice-and-support/EIP/Accelerating-Commercialisation/Pages/AC-Announcements.aspx.
More information on the Entrepreneurs’ Infrastructure Programme can be found at www.business.gov.au/entrepreneurs-infrastructure-programme or by phoning 13 28 46.