Funding Boost for Local Entrepreneurs
An innovative company in Sturt has been awarded a $485,145 share in the $4.9 million funding for the Coalition Governmentâ€™s Accelerating Commercialisation (AC) grants, as a part of the Entrepreneurâ€™s Programme.
Measurement Engineering Australia Pty Ltd (MEA), based in Magill, has received this funding for their IoT solutions for productive agriculture. MEA has developed a multi communications network that will be able to aid the agriculture sector in making critical decisions, such as those related to irrigation.
Through the Entrepreneursâ€™ Programme â€“ Accelerating Commercialisation, the Government has invested over $171.5 million, offering 347 grants to Australian businesses to get their products off the ground.
The grants help businesses to undertake development and commercialisation activities like product trials, licensing and manufacturing scale-up, therefore aiding these companies with the essential and often challenging steps in taking new products to the market. This means that these grants can help speed up the development of high quality products to ensure that they are able to make use of their strong market potential.
It is great to see the success of an innovative local company like Measurement Engineering Australia. The support to Measurement Engineering Australia sets a fine example for other local businesses in Sturt, as they too can enhance their success, both locally and globally, through partnerships with the government.
The Australian Government delivers many initiatives and programs that help businesses improve their productivity and competitiveness, such as the Industry Growth Centres, the Entrepreneurâ€™s Programme and the Cooperative Research Centres.
Accelerating Commercialisation grant applications can be lodged any time and consist of matched funding of up to $1 million to cover eligible commercialisation costs.
If you would like more information on the Entrepreneurâ€™s Programme - Accelerating Commercialisation grants visit www.business.gov.au/ep.