ACT grants support 8 emerging innovative businesses

Posted 21 Jun 2019

Story by CBR Innovation Network

The second round of the Innovation Connect (ICON) Grants closed on 29th March 2019. These 8 emerging Canberra startups will receive a total of $220,000 to support their market testing, prototyping, patenting and commercial feasibility of their concept.

The Innovation Connect (ICON) Grant is a competitive grant program that provides matched funding from $10,000-$30,000 to help early-stage entrepreneurs get investor- or market ready. The grant, which has an annual funding pool of $500,000, is available for Canberra based businesses that have an annual turnover of less than $2million.

“This early-stage funding support is essential for innovators who need to test whether or not their product idea can be built and create value for customers.

The grant also provides a foundation for early-stage startups to be exposed to other innovation programs, mentors and support services.” said Petr Adamek, CEO Canberra Innovation Network.

This round’s grant recipients:

  • Altina Drinks: Zero proof craft cocktails that are tasty and low in sugar, a social enterprise starting a movement that is taking on Australia’s drinking culture.
  • PsychNEXUS: An e-Health platform that facilitates the delivery of a secure and HIPAA compliant web-conferencing system.
  • PentaQuest: offers expert gamification design services for meaningful engagement of teams, businesses and citizens.
  • RecoveryVR: a stroke rehabilitation program that uses virtual reality to allow for patients to start therapy from their hospital bed.
  • Report Hero: a mobile application for teachers that helps them compile student end-of-year reports by making it easy to capture vocal and written notes daily over the course of the year.
  • Buoy Fishing: a modular fishing lure system that allows an angler to change the colour and action of a lure without needing to untie and tie a new lure.
  • Evalue8 Sustainability: a system that links carbon accounting and financial accounting software to provide businesses with clear visibility of their emissions and potential energy saving opportunities.
  • Pitch Ready: a precise validated testing system that uses meta-data and statistical algorithms to reduce known risk factors for ACL injury of the knee as well as other lower limb injuries.

In October 2018 The ACT Government partnered with the Canberra Innovation Network to deliver the grant program, a move which helps early-stage entrepreneurs connect with the innovation ecosystem and provides support and community for emerging startups.

“The ACT Government has delivered the Innovation Connect (ICON) Grant over 10 years and this recent program partnership is an exciting opportunity to evolve the program by getting it closer to entrepreneurs,” said Petr Adamek, CEO Canberra Innovation Network.

The next round of the Innovation Connect (ICON) Grant is open and closes on 30 July 2019 – to learn more book an appointment.

Have you got a Canberra story to share? Send it through for a chance to be featured!

Submit