A further $28.7 million has been allocated to successful applicants through the federal Industry Growth Program (IGP), including several developing technologies to support the Australian and global food system. The latest round included two packaging innovators.
Innovative SMEs and startups play a crucial role in the economy, but many have difficulty bringing their ideas to market. The IGP aims to support eligible SMEs in their most challenging development phase through tailored advisory services, followed by an opportunity for matched funding grants.
Launched in November 2023, the IGP program has dispensed almost $112 million of the proposed $392 million, shared amongst 75 companies to date, supporting projects which “align to Australian Government priority areas for the National Reconstruction Fund and help build Australian manufacturing capability for the future.”
From the packaging sector, the latest round included Papyrus Australia and Popit Recycling.
Papyrus Australia has developed technology for the conversion of banana plantation waste into consumable products that replace existing plastic and forest sourced food packaging products with a 100% biodegradable, renewable, circular economy product. Industry Growth Program support will help develop a small-scale prototype plant to take the technology from a lab scale proof of concept to a commercial scale design. (Grant total: $250,000)
Papyrus, which is listed on the ASX (PPY), said this grant will provide funding for the Rapid Prototyping and R&D Facility at the University of South Australia.
In an ASX statement, the company said: "The work from this facility is essential for the transition of PPY's technology from lab-scale proof of concept to commercial scale design. The project's initial focus will be the scaling of the design along with product prototyping and testing once the equipment installation has been completed. Product trials have commenced, with initial samples produced via outsourced facilities. Major equipment procurement is underway to fast-track technical implementation.
"We are grateful for this recognition and funding, which accelerates our journey towards building the banana waste-to-product supply chain. The prototype facility will serve as both a technology showcase and innovation hub, linking growers, manufacturers, and technology stakeholders.
Popit Recycling has developed an innovative recycling machine for the Australian dairy industry. This machine will enable milk processors to take back and recycle HDPE milk bottles in-house for less than the cost of virgin HDPE bottles.
Industry Growth Program support will be used to help Popit Recycling commercialise this recycling machine and achieve a build cost that is 30 times cheaper than currently available recycling systems, with a machine footprint that is five times smaller. (Grant total: $969,514).
