16 April 2009

Peter Garrett AM
Federal Member for Kingsford Smith
Minister for the Environment, Heritage and the Arts

Local company NewSouth Seven Pty Ltd will share in $2.1 million in grants through the Australian Government’s AusIndustry Commercialising Emerging Technologies (COMET) program, Member for Kingsford Smith, Peter Garrett said today.

Mr Garrett said the $64,000 grant to NewSouth Seven – an entity of the University of NSW – would be used to commercialise a software application it has developed which generates and analyses ground displacement maps using satellite-gathered data. (Detailed project description on page two.)

"I'm delighted to announce that NewSouth Seven Pty Ltd has received a $64,000 grant to help bring this very exciting and innovative locally grown product to the marketplace," Mr Garrett said.

“These funds will allow the company to get advice from COMET Business Adviser on a business plan, market research and intellectual property strategies to ensure that they continue to grow and build this product,” Mr Garrett said.

"The Rudd Government will continue to assist Australia's innovative businesses during these difficult economic times.

"I urge local companies to contact AusIndustry – the Government's business program delivery division – to see if they are eligible to apply for a COMET or any other grant.

"AusIndustry is responsible for more than 30 programs to help Australian businesses, including innovation grants, tax and duty concessions, small business development, industry support and venture capital.

"So give them a call, and see how they might be able to help your company become more innovative and competitive;" Mr Garrett said.

More information on AusIndustry grants at www.ausindustry.gov.au or call the hotline on 13 28 46.