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Federal grant funding provided for two industry innovation hubs

A new innovation hub helping start-ups fast track new products to the global market and another that works in the clean energy sector have received federal government funding.

ManuFutures, an innovation hub based in Geelong’s Deakin University, and Sydney-based The Energy Laboratory have each received a $500,000 grant as part of the government’s Incubator Support initiative.

ManuFutures supports emerging advanced manufacturing and cutting edge technology enterprises, creating new-to-market products.

“The Incubator Support funding will help Deakin develop a unique program that will accelerate its resident start-ups into targeted export growth markets,” industry, science and technology minister, Karen Andrews, said.

The Energy Laboratory’s project involves expanding its clean energy Acceleration Program to Melbourne, Hobart, Canberra and Lismore, and includes teaching modules, connection with international mentors and the support of four new start-ups in each of these four new markets.

Andrews said ManuFutures and The Energy Laboratory are existing incubators with a proven track record.

“The start-ups assisted by these two incubators will be able to test their prototypes and learn important business skills such as driving sales growth and how to go global,” she said.

“The Coalition recognises the crucial role incubators and innovative start-ups play across the Australian economy in creating high-value jobs, contributing to increased productivity and bringing new products and services to market, that’s why we’re providing this support.”

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