$478,950 grant helps GravityFit bounce into worldwide success
A Peregian Beach company is set to reshape the sports performance industry and help astronauts maintain musculoskeletal health, with help from a $478,950 Accelerating Commercialisation grant.
Federal Member for Wide Bay Llew O’Brien announced today that GravityFit has been offered the grant to commercialise production of its range of smart functional training garments for athletes and astronauts, as part of a grant round worth almost $10 million.
“This Accelerating Commercialisation grant will be used to help GravityFit commercialise these garments and reshape the sports performance and rehab industry worldwide,” Mr O’Brien said.
“GravityFit’s success is an inspiration to other Wide Bay businesses, and shows that local companies can compete at a high level and provide job opportunities for local people.
“The grant also shows that Wide Bay businesses can enhance their success, both locally and globally through partnerships with government.”
Minister for Industry, Science and Technology Karen Andrews said the funding helps businesses take their products to market, growing the Australian economy and creating more jobs.
“The Liberal National Government is committed to supporting Australian businesses with great ideas like these,” Minister Andrews said.
“The funding will help improve the capability and competitiveness of these businesses, while at the same time promoting economic growth and creating Australian jobs.”
Since the program launch in 2014, 363 grants worth $181.2 million have been offered to Australian businesses to commercialise their ground breaking technologies.
The grants are part of the Liberal National Government’s Entrepreneurs’ Programme. Each of the grants will be matched by industry funding from the businesses.
Accelerating Commercialisation grant applications can be lodged at any time for access to expert advice and matched funding grants of up to $1 million to cover commercialisation costs and help companies take their products to market.
More information on the grant recipients is available at www.business.gov.au/ac-funding-offers.
You can apply for an Entrepreneurs’ Programme Accelerating Commercialisation grant at www.business.gov.au/ep