An innovative medtech solution that helps doctors administer medicine to critically ill newborns will receive funding from the Morrison Government.
Minister for Industry, Science and Technology Karen Andrews said Victorian based Navi Medical Technologies is one of nine businesses that will share in more than $4.7 million in Accelerating Commercialisation grants to help get their products to market.
“The grants help Australian entrepreneurs, researchers, inventors and start-ups reach their potential sooner, which in turn creates jobs and drives economic growth,” Minister Andrews said.
Navi will receive $396,452 in funding to commercialise its neoNAV product that helps medical staff with accurate placement of catheters in critically ill newborns. If a newborn needs a central line, the neoNAV accurately tracks its location in real time using electrocardiogram (ECG) signals.
“The neoNAV innovation eliminates the need for confirmation X-rays and lowers the risk of complications to improve the health outcomes of critically ill newborns,” Minister Andrews said.
“This product is a great example of innovative technology that can improve lives as well as present a growth opportunity for Australia’s medical technology sector.”
The latest Accelerating Commercialisation grants will also assist:
- Red Eight Produce Pty Ltd (NSW) with a grant of $712,500 to complete development and a commercial trial of its modular mobile abattoir system that is able to process multiple animal species on any farm.
- Dynamic Crowd Measurement Pty Ltd (NSW) with a grant of $640,000 for commercial trials of their crowd management software solution that mimics human decision-making in real-time, to help police, security staff, event organisers and emergency responders.
- Farmbot Australia Pty Ltd (NSW) with a grant of $597,650 to broaden the application of its innovative water monitoring technology.
- Veyor Digital Pty Ltd (NSW) with a grant of $516,885 to help market test and validate its digitised integrated materials handling and logistics management platform to improve productivity on construction projects.
- Dinggo Au Pty Ltd (NSW) with a grant of $248,262 to commercialise its online automated vehicle fleet repair management platform.
- Albion Sports Technology Pty Ltd (VIC) with a grant of $245,966 to commercialise its light weight, high impact, gender and sport code specific protection apparel, AlbionX.
- Smileyscope Pty Ltd (VIC) with a grant of $740,000 to commercialise its virtual reality experience for faster, safer and less expensive medical procedures for children in Australian and overseas medical markets.
- Matchbox Exchange Pty Ltd (VIC) with a grant of $658,479 to commercialise the world’s first online platform enabling container transport companies to exchange shipping containers without transiting through ports, with an aim for broad adoption in Thailand, Malaysia and Singapore.
Since the launch of the Accelerating Commercialisation grants in 2014, 427 grants worth $208.1 million have been offered to Australian businesses. It’s part of the Coalition’s strategic investment in innovation, as part of our broader plan to create 1.25 million new jobs over the next five years.
More information on the grant recipients is available at www.business.gov.au/ac-funding-offers.