Aussie tech start-ups get $11.2m in govt funding

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Aussie tech start-ups get $11.2m in govt funding

To drive commercialisation.

The federal Department of Industry, Innovation and Science has awarded $11.2 million in grants to kick start the commercialisation activities of 24 innovative Australian businesses.

Among the projects to receive funding are a threat mitigation security application and a digital identity platform.

It is the latest round of funds to be granted to projects under the 'accelerating commercialisation' element of the entrepreneurs' program, which aims to help regional and metropolitan businesses prove the viability of their projects and prepare them for market.

“This is about helping businesses take smart ideas from the drawing board to products and services for Australian and international markets and creating new job opportunities for Australians," Industry minister Arthur Sinodinos said in a statement.

The accelerating commercialisation initiative provides up to $1 million of matched funding to get projects off the ground, as well as a range of portfolio serivces such as guidance from commercialisation advisors. Businesses are required to dollar match any grant funding.

A total of 234 Australian business have received more than $117 million through the grant program since April 2015.

Twenty-four businesses received funding in the latest round. They include:

  • Alkira Software, which develops web accessibility software for blind and vision impaired people
  • Luscan Capital’s Lumen climate risk analytics solution
  • The SiteSee cell tower analysis service for telcos
  •  BronTech’s digital identity and data sharing platform
  • Thedocyard’s cloud-based deal management platform for managing corporate transactions
  • Almos Technologies’ IoT-based smart table number system Table Locate, and
  • Kasada’s Polyform automated threat mitigation security software.
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