Forde based business Smart Steel Systems Pty Ltd at Yatala will receive a $1 million grant to propel their bright ideas from the drawing board into the marketplace under the Australian Government’s Accelerating Commercialisation program.
Member for Forde, Bert van Manen MP announced the grant as part of a $10.6 million Accelerated Commercialisation element of the Australian Government’s $484.2 million Entrepreneurs’ Infrastructure Program.
“These Accelerating Commercialisation investments will help 18 innovative Australian businesses including Smart Steel Systems, get their ideas to the market,” Mr van Manen said.
“Importantly, the $10.6 million in Government funding is more than matched by investment from businesses themselves, leading to a total value for the projects of $23.4 million.”
Mr van Manen said the $1 million in Government funding would help Smart Steel Systems develop a fully automated steel fabrication system, which has the potential to generate major productivity benefits for the industry.
“This project will prove to potential customers and strategic partners the commercial viability of this unique manufacturing system,” Mr van Manen said.
“Accelerating Commercialisation support will be used to complete the final pre-production development and trial phase, with the outcome being a fully operational state-of-the-art commercial production facility.”
Mr van Manen said this program would drive business growth and competitiveness and achieve nationwide economic benefits.
“Accelerating Commercialiastion will ensure that more of Australia’s wealth of intellectual property is effectively commercialised, including our brightest ideas from businesses based here in Forde.”
More information on the projects can be found at: http://www.business.gov.au/advice-and-support/EIP/Accelerating-Commercialisation/Pages/AC-Announcements.aspx.