The Regulatory Technology round of the Business Research and Innovation Initiative (BRII) has granted a share of nearly $5 million to five Australian companies to develop new digital technologies aimed at simplifying compliance and service delivery.
The selected firms, will, as part of their remit to help solve “challenges faced by Australian businesses”, further develop their solutions. Among these solutions include a system to monitor the health and welfare of export livestock and a new handheld device which could “revolutionise” asbestos testing.
During the proof of concept stage, the companies will share a total grant pool of $4,999,340 to develop a prototype of their novel technologies. If successful, these businesses will then have the next 15 months to complete their prototype or proof of concept to consider how their application can be scaled up.
At the conclusion of this proof of concept stage, government agencies may consider purchasing the solution, and the businesses involved will be able to pursue further commercial opportunities for their products.
The successful projects include:
- Round Pixel (Victoria), awarded $1 million to further develop the project ‘Smart Technology Delivering Animal Welfare and Supply Chain Efficiency’ for remote and automated monitoring of export livestock health and welfare.
- Eastern Analytica (Victoria), awarded $999,650 to further develop the project ‘Disclosure Anomaly Detection With Bayesian Networks, QA and NLP’ to help identify and assess poor market disclosure by listed companies.
- Flawless Photonics (South Australia), awarded $999,690 to further develop the project ‘Hand Portable, Non-contact, Real-time Fluorescence-based Asbestos Sensor’, an asbestos detection technology.
- Pag R&D (Victoria), awarded $1 million to further develop the project ‘Handheld Microwave Device for Real-Time Asbestos Detection’, another asbestos detection technology.
- Thaum (ACT), awarded $1 million to further develop the project ‘Slipway: A toolchain for the risk assessment of autonomous marine vessels’.