AI tools, quantum imaging and mental health therapeutics are among 22 innovative University of Melbourne research projects to receive a critical federal funding boost.
SkyOwl, a portable AI tool for aviation professionals, Chromos Labs, a quantum voltage imaging platform and Neurala Biosciences (formerly Psychae Therapeutics), nasal spray dispensing therapeutics for mental health disorders, are three of the 22 University projects awarded a collective $8.5m in funding.
The funding, via the first round of the Australia’s Economic Accelerator (AEA) Ignite program, is to help them achieve their next significant research translation and commercialisation milestones.
University of Melbourne Vice-Chancellor Professor Emma Johnston said the University’s outstanding result showcases our researchers’ commitment to making a real difference in the world through entrepreneurship and commercialisation.
“This recognition underscores the crucial role universities play in translating world-class research into real-world impact that drives economic growth,” Professor Johnston said.
“The investment from the Australian Government as part of the Ignite program will be invaluable in supporting more researchers to get their early-stage research projects off the ground.”
Research, Innovation and Commercialisation Managing Director, Ken Jefferd, said the University will continue to invest in its innovation ecosystem, supporting researchers and students to progress their brilliant ideas into commercial reality.
“We are grateful and delighted to see targeted funding at this scale, designed to speed up commercial opportunities based on research discoveries,” Mr Jefferd said.
Full story: Innovative research translation and commercialisation accelerated through funding boost
