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SMEs receive more than $1.8 million for their good ideas

Tuesday, March 14, 2017

Twenty small and medium businesses will share in more than $1.8 million in initial funding to develop solutions to public sector challenges under the Business Research and Innovation Initiative (BRII).

BRII is a National Innovation and Science Agenda initiative which provides opportunities for SMEs to solve challenges set by different government agencies. The challenges range across biosecurity, child protection, water markets and policy design.

The 20 SMEs have been selected from 180 applications to receive initial funding to conduct feasibility studies of their solution. The SMEs with the most promising ideas and products arising from these grants may be eligible for a further grant of up to $1 million each. This would be to develop a prototype or proof of concept of their solution with government having the option of being the first customer.

To read the media release please visit http://www.minister.industry.gov.au/ministers/sinodinos/media-releases/grants-support-innovative-ideas-small-and-medium-businesses

A list of grant recipients can be found at https://www.business.gov.au/assistance/business-research-and-innovation-initiative/grant-recipients