Two Bennelong based research projects have secured $3 million each in funding to further their research goals.
The successful local small businesses were two of ten successful recipients of a $25 million funding injection from the Morrison Government.
Glytherix are developing a new radioimmunotherapy treatment for hard cancer tumours.
Clearbox Systems are developing a sensor network for integrated Space Traffic Management. It has global sales potential.
Federal Member for Bennelong John Alexander said that support for these local Macquarie Park businesses was critical if Australia is to be a global leader in cutting edge technology and jobs creation.
“It is tremendous to see such ingenuity in our local area, we as a Government are determined to back such collaborative innovation and effort,” Mr Alexander said.
“This funding will help accelerate their projects and ensure we can continue to grow the local economy at such a critical time post-COVID.”
Mr Alexander will be visiting the two successful recipients to better understand their projects and congratulate them on their brilliant work.
Minister for Industry, Science and Technology Karen Andrews said these broad-ranging projects will help save time, money and lives.
“The Morrison Government is committed to supporting innovative ideas and assisting researchers and industry develop real-world solutions to issues facing Australia and the world,” Minister Andrews said.
“Now more than ever it is vital businesses and researchers work together to collaborate on outcomes which will generate opportunities and jobs as the nation continues its economic recovery from the COVID-19 pandemic.”
The $25 million in support from the Morrison Government will unlock a further $58 million of cash and in-kind contributions from 52 project partners.
Since the first round of Cooperative Research Centres Projects in 2016, the Government has committed over $314 million in funding to support 145 projects.