The commercialisation of innovative ideas that address impacts of COVID-19 are being supporting by the NSW Government with two new funding streams announced.
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said on 4 August that the two programs would be delivered by Investment NSW and are focused on addressing the impacts of the pandemic across the state.
‚ÄúThe new $6 million R&D Fund will help grow our standout businesses to attract local investment and take their innovation to the world as we look forward to a global economic upsurge.‚Äù
The R&D Fund targets innovative products that have been developed by NSW businesses. Proposals to scale R&D products will be assessed by a panel of judges with expertise in commercialisation, venture capital, academia, government and industry.
The COVID-19 edition of TechVouchers, valued up to $25,000 and $50,000 per business, will enable more businesses to innovate by providing access to expertise and equipment in NSW, through publicly funded research organisations such as universities, CSIRO, National Measurement Institute and ANSTO.
Previous TechVoucher recipient, Dr Martin Fuechsle, Quantum Technology Manager at Archer Materials said their voucher helped to progress early-stage development of its 12CQ quantum processor chip technology using ANFF equipment at the University of Sydney’s Research and Prototype Foundry facility.