The $10m funding will support 23 companies through Commercialisation Australia.
Switch Automation is the largest beneficiary securing $2 million dollars of funding over two years to assist in the commercialisation of the cloud based Switch Sustainability Platform, for automation and energy management in apartments, commercial buildings and homes.
The platform provides a cost effective and web-enabled solution for the flourishing GreenBuilding market, ensuring that building owners, managers, tenants and residents can monitor, measure and control their energy consumption at the touch of a button.
The platform used by switch automation relies on a single backbone cable that controls various aspects of the home, ranging from security surveillance to climate control. Since Switch is a cloud based automation solution, owners can jump onto the internetâ€”wherever they areâ€”and remotely manage various aspects of their home.
Cloud-based automation systems don’t suffer from obsolete hardware and benefit from over-the-air updates as they become available. The move to invest a fifth of the available funds into Switch Automation indicates its cloud-based system harbours future potential.
Other awardees include Sydney-based Ai-Media, who received $1.7 million for technology claimed to stream speech as text to iPads, tablets or laptops, assisting people with hearing difficulties; while LeapIn was granted $50,000 to fund an iPhone-Android application which would allow hotel guests to bypass the reception check-in desk.
Other inventions include five health-related projects that Carr said could provide a real-time test for stress and create drugs with fewer side effects.
Commercialisation Australia is a government initiative that evaluates companies, entrepreneurs, researchers and inventors and upon merit, awards them with financial support. The program converts ideas into commercial ventures, and is claimed to have provided $71.7 million to 177 innovators since its launch less than two years ago.