Mackay business gets an innovation boost
MAY 21, 2018: Mackay business, Vayeron Pty Ltd, has been successful in winning Australian Government funding to help it develop and grow.Vayeron Pty Ltd is one of 13 Australian businesses sharing in $6.7 million worth of grants under the latest round of a program helping innovators and entrepreneurs achieve commercial success by taking steps like trials and market testing, bringing them closer to launching in local and international markets.Vayeron’s Smart-Idler, which has been developed by Ryan Norris, is a wireless, energy-harvesting, condition-monitoring device for use inside conveyor rollers.The Smart-Idler senses and transmits key indicators of roller failure to operation-control, enabling intelligent, pre-emptive maintenance to be safely undertaken and eliminate unplanned conveyor downtime due to failure.Understandably there are huge benefits for such a device in terms of saving time and money.Ryan Norris is one of just 13 entrepreneurs across the country who has been awarded a Entrepreneurs’ Programme Accelerating Innovation grant of $286,000 for their $572,000 project to conduct a series of large scale commercial trials at mines and ports.Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said the program was one of many ways the Turnbull Government was supporting innovation to help businesses grow and provide more jobs.“There are a number of big steps to take between coming up with a great idea and actually launching a business based on it. These grants help make it easier and speed up that process so our economy can benefit from innovation much sooner,” Minister Laundy said.I hope the lead taken by Mr Norris with the Vayeron Smart-Idler will encourage other innovators in Mackay to take their ideas a step further.I look forward to seeing the outcomes of the project and urge other local businesses with great ideas take advantage of this program to help enhance their success.For more information about how to apply for an Entrepreneurs’ Programme commercialisation grant go to www.business.gov.au/ep