An Australian Government grant of $1.4 million will support local industry partners as they work to bring commercial ideas to life, Member for Corangamite, Libby Coker said.
FormFlow and Speedpanels will use the funding to join with Deakin University to develop a fire rated wall panel system for commercial and residential construction.
The project will introduce computer and test platforms to enable a first systematic approach to building product and manufacturing process design that is needed to rapidly develop and commercialise the new wall concept.
The industry partners told Ms Coker, that in combining the computer support with new technologies for in-line shape monitoring, as established by FormFlow, the partners will put in place a scalable high volume manufacturing cell to expand manufacturing operation and access a $340M market opportunity in Australia`s $60B high-rise building industry.
The project is one of 24 announced by Minister for Industry and Science Ed Husic, under round 14 of the Government’s Cooperative Research Centres Projects (CRC-P) initiative.
These grants will support high value, industry-led research projects and leverage a further $72 million of cash and in-kind contributions and involve 100 partners working across nearly all states and territories.
Round 14 supported projects with a focus on circular economy principles, as well as priorities areas under the Government’s landmark $15 billion National Reconstruction Fund (NRF).
Many successful projects also have the potential to become investments under the NRF once they have reached the commercialisation stage.
The CRC-P grants are awarded through a competitive, merit-based selection process, assessed by an independent committee of industry experts.
The CRC-P grants support industry-led research projects, offering matched funding of between $100,000 and $3 million. Grants are for a period of up to 3 years.
Round 15 of the CRC-P scheme is currently open to all industry sectors, with a focus on the Circular Economy, National Reconstruction Fund and Science and Research priorities.
Since the CRC-P scheme was introduced in 2016, $502 million has been awarded to 232 collaborations across Australia.
Applications for CRC-P Round 15 close on 14 September 2023. For more information or to apply, visit www.business.gov.au/crc-p
Quotes attributable to the Hon Ed Husic, Minister for Industry and Science:
“I’m pleased to announce a further $50 million through the highly successful CRC-P initiative to support industry-led researchers to bring their innovative ideas to life and transform Australian industries.
“Many of these projects are in National Reconstruction Fund priority areas, ensuring there is a steady pipeline of investment ready projects to consider in coming years.
“This initiative is just one of the ways this government is securing Australia’s future prosperity, driving economic growth and creating jobs.
Quotes attributable to Libby Coker MP:
“I congratulate Formflow, SpeedPanels and Deakin University and wish them all the best as they further develop and test their innovative technology and work towards bringing it to market in collaboration with its research and business partners.”
“Through innovative design, research and manufacturing projects like this one, our region will continue to lead the nation when it comes to advanced manufacturing.”
“The project has the potential to grow jobs in our electorate and build the local economy.”
“And as Round 15 of the CRC-P is currently open, I encourage local businesses to access these grants to develop and commercialise new products and services through brainstorming and collaboration with research organisations.”
“We have a great number of talented and innovative business minds in our region, and with the right partnership and support through these grants, businesses have a great opportunity to reach their full potential.”
A full list of successful projects is available on business.gov.au.
