Sydney-based industrial technology developer CEC Systems has received a AUD$282,000 grant from the Australian Government to explore the commercial benefit of their collapsible shipping container, COLLAPSECON®, to the shipping and logistics industries compared to traditional shipping containers.
The grant has been awarded by AusIndustry as part of the Accelerating Commercialisation programme. Grants provided under the programme are designed to help commercialise more of Australia’s wealth of intellectual property by nurturing the brightest business ideas around the nation. Through these grants, the Federal government seeks to advance Australian industries, create new opportunities and ensure Australia’s intellectual property is protected.
CEC Systems’ focus is on pioneering solutions to the complex global challenges facing the shipping and logistics industries, with the COLLAPSECON® at the forefront of their innovations.
CEO, Nicholas Press, is excited by the opportunities the Accelerating Commercialisation Grant will give to his burgeoning technology company. “We’ve calculated the benefits of the COLLAPSECON® through the entire supply chain, however, a targeted commercial demonstration is required to confirm that these calculated improvements can be achieved”.
The grants are matched dollar for dollar by investment by the recipient companies. To date, the programme has provided 75 successful grants worth more than $37 million in Australian Government commercialisation assistance to bring Australian innovation to market.
Advisers also guide businesses through the commercialisation process and eligible groups may also receive financial assistance in the form of a matching grant of up to $1 million.