Innovators earn $4.7 million in January Accelerating Commercialisation grant round

Grants totalling $4.7 million and shared among nine companies under the federal Accelerating Commercialisation program have been announced.

Successful projects under the January round include Red Eight Produce’s new meat processing system, Veyor Digital’s material handling, logistics and inventory platform, and Navi Medical Technologies’ NeoNav device. 

NeoNav is a device for catheter placement for premature or sick babies, and has its origins in the University of Melbourne’s Biodesign Innovation Melbourne program. Navi aims to replace methods for catheter placement that have been in use for over 60 years.

“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,” industry minister Karen Andrews said in a statement.

“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 program is for SMEs, entrepreneurs and researchers bringing new technology to market, and assists through providing expert advice and guidance and matched funding of up to $1 million.

A full list of January 2020 Accelerating Commercialisation grants is below (source: https://www.business.gov.au/Grants-and-Programs/Accelerating-Commercialisation/Accelerating-Commercialisation-funding-offers)

Picture: Navi Medical

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